Yes the current resource is big enough to be a company maker in...

Yes the current resource is big enough to be a company maker in its own right. Just a quick calculation on average seam length and width is around 800mltn once converted from volume to tonnage. Then basket and Mets extraction. I used 60% and around $100 basket. I'll be conservative at 500mltn depending on cutoff.

The deposit is classified as at surface meaning very low strip and the course light clay loam is soft to medium through the seam hence easy mining. Couple this with low CAPEX (Screen plant) and throw in economics of scale makes the soft deposit extremely viable and a good starting point for a company for many many years just on Jupiter alone.

If the flowsheet returns similar flows to Iluka and Lynas we should see a massive re-rate on the cards. It would come down to our basket. Is the particular elements we have are what our customers are after. I was told yes

Now Iluka funded Northern Minerals for the PFS for outsourcing alone with a bank guarantee. This could be an option for VMS. Just on Jupiter's soft deposit we could be in a position with a signed MOU mid to late next year. The beauty of Jupiter is the intrusion and hard deposit. Another game change if this zone come up trumps.

All depends on management hitting timely benchmarks and Phillippa expected upcoming business model moving forward. Don't be surprised if we need to infill to define the resources. It will come down to accuracy in the 3D. Fingers xed we have enough data to define now. Defined means bankable...boom!!!

GL @ Goergep3438