program update, page-13

Hi DDzx

I stand by my figures for Mt Weld CLD at
14,949,000 t x 9.7%

Visit TMR

http://www.techmetalsresearch.com/metrics-indices/tmr-advanced-rare-earth-projects-index/

you maybe including Mt Weld Duncan Deposit which has a different mineralogy and will require a separate flowsheet

I am not displeased with Lynas' opex or recoveries and as for Molycorps' $3 kg we will wait and see. Maybe it is cheaper to process all those light rare earths. Strange that they ever went out of business in the first place :)

I won't speculate whether or not Peak will put Lynas out of business. I just hope Peak is around going by Jack Lifton
"Between 90–95% of the remaining junior miners will be wiped out."

http://www.mining.com/2012/06/19/the-only-five-rare-earth-elements-that-matter-jack-lifton/

Peak is working to quarantee they will be around by concentrating on the 40 Mt x 4.07%

There is no way that I can see that Peak will concentrate and separate at Ngualla. So your opex will have to include like Lynas transport to another country

I hope that Peak does choose to separate judging by its huge resource and grades as concentrate may only achieve about 25% of the basket price

Reo prices are depress now but that was also an issue when Lynas started. With the massive developement costs involved Peak will most likely have to find a suitable partner and the terms may not be as favourable as what Lynas has achieved

You know what they say, First in Best dressed :)


Tonio