Ive been doing more research on the DSO side of things and the minimum cut off for Phosphate rock for DSO shipment is 27%. We have 76M tonnes (currently) that is suitable for DSO. At our forecast goal of 600,000 T per annum well over 100 years of resource.
There is a lot of interesting old information regarding how little drilling had actually been done. Most of the resource data is from RIO Tinto which didnt really do a lot of drilling back then due to Phosphate rock value bouncing between $45-$80T. Rio need a sustained price of $150T to make it viable 15 years ago, hence why they moved on.
Pretty clear to me why this project has been in limbo for so long until now.
I did find a independent resource valuation at $75M based on the ore price at the time of $45/T.
Ann: Intent to grant Mineral Leases received from NT Govt, page-137
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