Ann: EQR Identifies 5 Exploration Targets for Wolfram Camp, page-4

Hi All,

A few quick calculations based on this announcement.

Resource as it stands 2.95Mt @ 0.279% WO3

Also there is the LGS of 5Mt assuming on the low side its .005%.

Wo3 resource
2,950,000 tones @.00278 = 820100 MTUs contained
Given last quarters sale price of $338 AUD per MTU contained at Mt Carbine gives it an in ground value of $277m AUD.
70% extraction gives $194m AUD

Wo3 LGS
5,000,000 tones @.0005 = 250000 MTUs contained.
Given last quarters sale price of $338 AUD per MTU contained at Mt Carbine gives it an in ground value of $84.5m AUD.
70% extraction gives $59m AUD


Looking over old articles it would appear that this resource has a Molybdenum content of about 0.07 of a percent.

Mo
2,950,000 tones @.0007 = 206500 MTUs contained.

price to revenue ratio for the Mt Carbine Wo3 when applied to Moly gets around $600 AUD per MTU contained which gives a ground value of $124m AUD.
70% extraction gives $86.5m AUD

Does anyone know how Moly is handled by XRT sorters? Seems like a worthwhile pursuit to take it during processing if costs allow.