@adzconan; I totally agree:
It is not only deceptive but totally meaningless ~ As I asked in an earlier Post: Which is better Lihir Gold mine with a Basket Value of US$1,800/oz or Hamersley Iron with a basket Value of US$100/ton ? What is unquestionably important is the Recoverable In-Situ value of an Ore Body, So long as it exceeds the OPEX your probably in business, but if does not then you can forget it, no matter how high they tell you their BV is.
ASIC/JORC and AIMM are also not impressed; VTM have been made to retract their use of 'Basket Pricing' in their Nov 15th Announcement.
My apologies for falling for the latest obfuscation, A totally irrelevant argument anyway as nobody will ever achieve 100% recovery
Ann: Acquisition of Potential World Class Ionic Clay REE Project, page-184
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