Not so much a very large 'deposit' as a regional play comprising...

Not so much a very large 'deposit' as a regional play comprising many large thicker/thinner, higher/lower grade areas. Much material will be under villages, infra etc, or too thin Hg rutile to justify developing. Obviously number of areas that do, especially if they go deeper chasing HG graphite at depth, which reduces footprint overheads of large shallow pits etc.

project comes with a range of technical and sovereign risks of course, especially at SS stage. Personally, considering industry demand-supply balance and thus pricing risk for rutile and graphite. Mine process, capex and opex will get narrowed down with higher confidence over time but product pricing is a huge variable without much control over. Certainly one of the more interesting and potentially strategic assets around, but also a binary value proposition depending on how the rutile and graphite industry pan out...

Good luck