From todays announcement the resource of 98MT reprsents 21,560T...

From todays announcement the resource of 98MT reprsents 21,560T of REE mineral . Hope I read the content properly to come to my understanding of this announcement . A percentage of the REE resource 25% of that mineral represents Neodymium that is used in magnets . Neodymium is currently priced at $146.80 a kilo . So 21560t @ 25% = 5390t NdPrConvert to kilos 5390 t x 1000k = 5,390,000k @ $146.80 per kilo = $791,252,000The draw back about processing REE is that it is rather complicated and is very labour cost effective as well as being very environment unfriendly during the process. Even so even if the cost of production was 75% your looking at a mighty amount of cash not including the other 75% of assorted minerals in the process . So I agree with you that was a pretty good report with a very poor response to the market capital of MEK . Could someone check my calculations and understanding of that report as I believe figjam2708 is right in his assumptions . My theory is that todays resource figure could be much higher if someone wanted our resource.