Ann: First Mixed Rare Earth Carbonate produced at Makuutu, page-35

Hello. I am trying to understanding this data myself therefore i cannot answer your question. However, groping with superficial numbers, the MEI product distribution after recoveries was announced as follows:


The MEI recoveries are different to IXR, as follows:

Therefore, if I plug the IXR grades into a spreadsheet and multiply it by the recoveries and REE prices I get the the following table. Note: I don't know if the numbers are meaningful because I am just clutching at straws.


MEI calculation below. It can be noted how the IXR basket has 6.1% Terbium and Dysprosium compared to MEI's 1.0%. MEI has 30.6% Pr/Nd vs IXR's 23.6%. Therefore, the IXR basket value is far superior however the MEI mining grades of a possible 4,000ppm for the life of mine are far superior to IXR's 848ppm.