Following on, geeze they’re setting the bar low.
In the “Transformational Partnership” announcement (21 May 2025), they clearly stated a minimum of 500 million dry metric tonnes of limestone for offtake.
Now in today’s GM notice, they’ve slid in a soft milestone for management’s performance rights:
“500Mt limestone at a minimum 30% CaCO₃.”
What was pitched as a minimum commercial JORC offtake amount, has now been reframed as a JORC resource target — but with a surprisingly low-grade threshold.
Did anyone else catch this?
They were banging on about ultra high-grade limestone — 90–95% CaCO₃ — just weeks ago. And now they set the performance bar at 30%? That’s agricultural filler, not premium export-grade product.
Yes, I get the angle from management: make it easy to hit the milestone. But 30% as a starting point? Come on.
Surely REM, under this so-called “master agreement,” would require much higher purity to even begin addressing Indonesia’s nickel nitrate problem.
Cheeky stuff, really.
FyI
Low-purity < 85% CaCO₃ Construction base, roadstone, basic fill
Am i misinterpreting this?
(20min delay)