Right o, let's get on the REE thread.
What i managed to take from the Webinar:
- Claudio has pretty extensive experience working with REE from his days at NTU's Brown's Deposit - the deposit which TNR's looks most like so far. He took it from a 6 man operation there to a 60 man camp. Left because management had different ideas to his about exploration.
- Kenny has extensive experience working internationally and in Australia with REE deposits. We really couldn't be in better hands to move forwards and discover what is there. Kenny did a lot of explaining about HREE and LREE and the fact that HREE are worth way more $ than LREE.
- Currently they believe there is a regolith REE deposit which is sitting above the hard rock, so there will be two parts to this discovery.
- The regolith (a region of loose unconsolidated rock and dust that sits atop a layer of bedrock is approximately 1km x 1km by 20m deep. It is basically soft top soil sitting on top of rock which is very easy to define, mine and work with (and therefore easy to monetise in a short period of time). It could go wider than that, Claudio said we know it's 1.5km at one stage but then settled on 1 km x 1km
. They plan to AV drill this whole area. This whole area up to 20m deep can be quickly and cheaply defined using AV drilling.
- They have not touched the hard rock underneath yet, this will come from the next phase of drilling using RC. It's not known how big, what's in it, but it is expected to have plenty in it as the regolith deposit had to come from underneath (that's what i understood anyway).
- The whole REE deposit is an anomaly. There is nothing else like it in the area. It's completely different to Mt Weld's deposit as Lynas's deposit there is Light REE while while TNR's is HREE - which is more lucrative and has the 5 most critical elements represented.
- Based on current basket price prediction per kg of extraction, they think the basket may be approx $90 per kg from what they have seen so far. This compares with NTU's Brown's Deposit and sits well above other examples discussed in the 20s and 30s which are still economic to mine.
- It is not an ionic clay deposit as chatted about on these threads. Doesn't matter at $90, the HREE components within more than make up for it and are still quite extractable. There is also the credits from the other metals mentioned and the Scandium presence is quite lucrative also.
- A little light research of NTU and their market cap is $257 million, TNR's is $35 million and TNR probably have a JORC of 300,000 oz of Gold on top of that, with a fair bit of it 'indicated'. This will be updated next month. I'll need to do some more research on NTU to compare.
- REE plant being constructed by LYC in Kalgoorlie. TNR may be able to leech the regolith REE onsite and then transport to LYC plant to process as they will likely have plenty of capacity.
- Offtakes are not going to be a problem, the whole world wants these minerals - The US, South Korea, Japan - you name them.
- TNR have more than $5 million in the bank to move forward with more gold and more rare earths.
- Claudio said near the end, with the continued exploration they are doing, they are more than likely to turn up more Gold targets on their tenements. Could also be more REE, they have not covered it all yet and the current footprint could yet grow quite significantly.
I'm sure i missed things, please feel free to add on below and fill in the gaps.
I forgot to ask them, who has the white tenements on their maps? Might be something worth looking to get a hold of before we discover too much???
This would have to be the most bullish webinar i have ever witnessed in my investment career!!! I wonder when the market will wake up? Meanwhile, some people are selling. Based on the information provided in the webinar and through the announcements, you'd have to be mad or have no idea what is going on here.
(20min delay)