Where are you getting 2% from? 2000ppm? 20kg of what? Are you saying they have 20kg MREO per ton of ore? 2000ppm is 0.2% not 2%. Per tonne they'd be getting $50 minus 40% recoveries, minus 30% playability.
How do you get $110/kg? Looking at the distribution of rare earths in the samples I don't think $110 is right.
This is what I am using: Here's a similar-ish ppm and distribution of elements, at prices from a while ago (gone down now). Recoveries are unknown but if you assume 60% then its kinda similar on the revenue side (my guess is VMS costs will be waaaaaay higher with all the roasting and acid etc and this doesn't show costs only revenue).
Ann: 8m @ 5,716ppm TREO- Jupiter Drilling Continues to Outperform, page-68
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