General discussion, page-12598

CBMM do want more supply from around the world, which is why they tolerate and co-operate with the other existing miners of much lower grade and higher cost. They are no so stupid to go into competition with WA1, the only other deposit in the world that could be competitive with them. Working in co-operation like with the others is far more likely.

In terms of what ENR currently have, after going through the surrounding holes of the good grade headline holes, it's very disappointing for them (I sold my shares in them on open). Any talk of any type of deal is extremely too early, they might not yet have anything worth digging up, but plan to drill further to define what they have.

Given that we have over 50M tonnes of 2%+ grade, which is likely to go up with infill drilling, plus assume we work with CBMM, then any plant is likely to be in the range of 10,000-30,000 tonnes of Niobium per year. Even taking the high end of that number, means we have a couple of decades of mining, before needing any other ore, as it would only require a 1-2Mt/a plant. ENR might have a couple of million tonnes at best of higher grade material that we could use, between Crean, Green and Emily, as in 3 different areas with the mineralisation spread out.

I'm not sure how it could be in our (WA1) interest to accommodate their ore to the detriment of using our own for over 20 years and likely over 30 years. The best thing for ENR assuming they just find continuations of existing, which means a little bit more here and there, would be to sell their tenements to WA1, and keep exploring all their other tenements. Of course they should check thoroughly their tenements first, so this would not be on the radar for another year or 2.

All WA1 would do with their tenements, is nothing much, for a couple of decades at least unless they were needed for some aspect of the plant where no mineralisation exists...

What seems to be forgotten is that LUNI showed continuation straight away, in both length and width. What ENR have found has some length along strike, but width is missing, though they have a chance with Emily, which seems to be an extension of Luni anyway...