RDM

4.55%

11.5¢ red metal limited

Sounds great looking forward to the next updateImpurity removal...

First 15 Last

Share
Profile

Follow
Sharetrader78

13,192 Posts.

1905

03/06/24

11:46

Post #: 74135070
Share

Originally posted by Big Poppa Pump: ↑

Agree with that take. It looks like the project is shaping up to be a high tonnage 20 mtpa+ coarse crush heap leach. Similar parameters to the Morenci and Escondida examples, but going after REE.

Big wins:
1. The granite is leachable with coarse crushing to 10mm and 15mm. My cost modelling has asssumed 4mm with HPGR so this is a reduction in OPEX and CAPEX by avoiding using HPGR fine crushing. They could also get away with coarser crush sizes, as Morenci being granite hosted achieved >80% Cu extraction with a whopping 40 mm crush.
2. The granite is very soft and soft = low crushing and mining OPEX compared to peers (e.g. Apollo Hill as a cost basis)
3. Very surprisingly, the rare earths leach at pH 3! Need to find out the maximum REO extraction at pH 3.
4. Weathered material achieves very high Nd/Pr and Dy/Tb extractions with modest acid useage. Better parameters achieved in the 0-20m section than I have used in my modelling. Note that the average acid consumption rate in the phase 1 work was 37 kg/t, whilst this interim Phase 2 work now has that at 20 kg/t with slightly higher REO extractions by trimming the acid concentration down by half and giving it more time.

Next big items to check off IMO are:
- Can a saleable MREC be produced with minimal REO losses? This will answer the question around whether the impurities in the weathered with the pH 1-2 leaching setpoints are tolerable.
- Prove up the scale and continuity of the resource to support modelling a 20 mtpa+ throughput case. Hopefully we get step out drill results back shortly.

Using a coarse crush heap leach, this project will easily have the lowest capital intensity per unit NdPr produced of any rare earths project. I think the Apollo Hill estimate of $300m for 10 mtpa is probably looking conservative now given we are avoiding HPGR and proximity to Mt Isa (no FIFO camp, power generation). Then scale up to 20 mtpa and use a 0.7 scale up factor and the CAPEX will be circa $500m AUD. If you assume they recover 300 g/t NdPr equivalent, that is around 6k tpa NdPr equivalent in MREC. For comparison, ARU has a capital intensity of $1,400m AUD to produce 4,400 tpa NdPr, or 3x higher capital intensity (allowing for the MREC discount for Sybella).

Expand

Sounds great looking forward to the next update

Impurity removal trials are progressing with early indications showing residual contaminants fromthe Pregnant Leach Solution may be successfully removed, potentially resulting in a premium mix rare earth carbonate (MREC) product. Results from these tests are expected shortly.

RDM Price at posting: 17.0¢ Sentiment: Buy Disclosure: Held
7 Upvote

0 Great analysis

Reply

Top Stories

Week 39 Wrap: What HotCopper’s watching; China’s new stimmy moves boost metals; Oz CPI drop

The market's shrugged at China's stimulus measures all year. Why is this one different?

ESR

Estrella first foreign entity to win tenements in Timor-Leste under new laws ahead of 2025 tenders

KAL

KalGold rolls out detailed aeromagnetic survey across Pinjin project

ACW

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

STK

5.6g/t gold intercept at Serbia's Rogozna supports Strickland's hopes for high-grade core

COD

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

NAM

ACCC seeks Olam divestments before it can buy Namoi Cotton

DEG

HotCopper users muse on De Grey's denial of Agnico Eagle takeover bid – but who are Agnico?

The winners & losers on market if negative gearing were gone

There are more pages in this discussion • 8 more messages in this thread...

First 15 Last

Add RDM (ASX) to my watchlist

(20min delay)
Last 11.5¢		Change 0.005(4.55%)		Mkt cap ! $34.46M

Open	High	Low	Value	Volume
11.0¢	11.5¢	11.0¢	$41.92K	380.9K

Buyers (Bids)

No.	Vol.	Price($)
3	128022	11.0¢

Sellers (Offers)

Price($)	Vol.	No.
11.5¢	356781	2

View Market Depth

No.	Vol.	Price($)
2	28022	0.110
6	342766	0.105
12	507740	0.100
1	100000	0.099
2	35000	0.098

Price($)	Vol.	No.
0.115	356781	2
0.120	145200	2
0.125	41666	1
0.130	11284	1
0.135	157518	4

Last trade - 16.10pm 27/09/2024 (20 minute delay)

RDM (ASX) Chart

Sounds great looking forward to the next updateImpurity removal...

Week 39 Wrap: What HotCopper’s watching; China’s new stimmy moves boost metals; Oz CPI drop

The market's shrugged at China's stimulus measures all year. Why is this one different?

Estrella first foreign entity to win tenements in Timor-Leste under new laws ahead of 2025 tenders

KalGold rolls out detailed aeromagnetic survey across Pinjin project

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

5.6g/t gold intercept at Serbia's Rogozna supports Strickland's hopes for high-grade core

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

ACCC seeks Olam divestments before it can buy Namoi Cotton

HotCopper users muse on De Grey's denial of Agnico Eagle takeover bid – but who are Agnico?

The winners & losers on market if negative gearing were gone

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Sounds great looking forward to the next updateImpurity removal...

Top Stories

Week 39 Wrap: What HotCopper’s watching; China’s new stimmy moves boost metals; Oz CPI drop

The market's shrugged at China's stimulus measures all year. Why is this one different?

Estrella first foreign entity to win tenements in Timor-Leste under new laws ahead of 2025 tenders

KalGold rolls out detailed aeromagnetic survey across Pinjin project

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

5.6g/t gold intercept at Serbia's Rogozna supports Strickland's hopes for high-grade core

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

ACCC seeks Olam divestments before it can buy Namoi Cotton

HotCopper users muse on De Grey's denial of Agnico Eagle takeover bid – but who are Agnico?

The winners & losers on market if negative gearing were gone

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News