correct and it’s basically a giant volcanic plug so the strip...

correct and it’s basically a giant volcanic plug so the strip ratio was always going to be very low as the hill is basically a giant deposit with its head sticking out of the surrounding terrain .

Grade plus low strip ratio means very low asic and pre strip capex so anyone with a basic understanding of geology and especially since it’s also non radioactive , also lowering aisc so it’s a no brainer when you compare it to a myriad of other Australian ree plays . The only issue is jurisdiction here but Malawi is probably one of the better African jurisdictions . Rio wouldn’t invest in Malawi if they were worried about country risk here.

The other thing to note here is what they thought would be waste non mineralised Rock turns out to be more of that mixed breccia which is also mineralised , hence deposit just got a hundred metres wider and as we know it’s pretty well mineralised all the way down , very likely this adds a bit to this mre and future updates when they add the deeper drilling onto it .

As an investor the real question here is what scale do you mine this monster at ? I am thinking even if they scale to 3.0 Mtpa , the life of mine here is still likely to be well over 100 years ( maybe heading to 200 +) which doesn’t make a lot of sense from an Roi perspective . The key for investors is finding offtakes outside of the China supply chain . They are going to need that too as when this comes online at scale you are going you materially move the world supply curve , so you don’t want to charge into too much production too soon but they need to be thinking strategically here long term on a global market level , it’s a nice problem to have .