However, it gets even crazier when we try to work out an inground value which my schoolgirl maths tells me is US$0.035/ton
Now of course, in ground value can be fraught, but 4 cents per ton for REE and Bauxite! Seriously....?
Let's allow a 50% discount for current low RE prices.
And a 25% Sovereign Risk Discount.
So now, maybe we're at 10 cents/ton? Which is still crazy.
That leaves management risk at ?,???,???%
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