Ann: First Mixed Rare Earth Carbonate (MREC) Produced at Caldeira, page-22

Hello. There was talk on Twitter this would be around 5000ppm but I would guess this is the maximum and maybe the best case scenario at an average thickness of 25 metres deep.

The MEI JORC was based on average thickness of 6.9 metres (however my calcs which could be wrong got 9.9 metres average thickness). Therefore, MEI probably have 1 billion tonnes with probably 150 million tonnes at Capão do Mel.

The MEI JORC had 72Mt at 4,588ppm (3500ppm cut off) therefore the real amount would be say around 150Mt at an average of 20 metres thick/deep.

Looking at the first diagram below, Capão do Mel might have 33% of the 4,588ppm (red & purple) JORC quantum therefore 24Mt at 4,588ppm at the JORC thickness.

In the second diagram i tried to guess some JORCs at 20 metres thick and it comes to around 23Mt tonnes at maybe at least 5000ppm. Average 25 metre thickness would bring this to 30mt at at least 5000ppm. Therefore, this is the six year operation at 5mtpa ROM at 5000ppm.

However, the talk of a 50Mt deposit at 25 metres thick would require an area of 1,200m x 1,200m which would bring in lots of the yellow coloured ground therefore maybe 3,800ppm for a 10 year operation.

Only guessing.