IR1 iris metals limited

Lets be a bit optimistic and expansive - say those intersections...

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    Lets be a bit optimistic and expansive - say those intersections link up and the pegmatite is 50m x50m in cross section @ 1.5% Li2O

    And that the peg runs 200m in length ~ the distance between sections AA and BB in the diagrams. (huge assumption there)

    That's equivalent to 200x50x50/4 cu. m. of spod 6 concentrate (I divide by 4 to up grade the concentration from 1.5% to 6%)

    Now spod has a density of 3.15 tonnes/m3 and a value of ~~ $1000/tonne of spod6 (hopefully a lot more by time its being sold by IR1)
    So the value of the spod6 concentrate obtained from that section of pegmatite is

    200x50x50/4x3.15x1000 $$$ = $394,000,000.

    So that's just a teaser, because obviously there is a lot more in the ground at Beecher, but of course the Company can't say that, and neither should I.
    But I will because I am putting in a disclaimer - Not advice, DYOR, and don't listen to me because I'm a mug.

    And anyway there is always the Tin Mountain to throw in it's two bobs worth.

    EXTRA - Beecher is on a granted ML, with easy local permissions being just a quarry. Existing processing plant within a few kms. In USA so govt funds are possible. Li is critical metal. Uncle Sam wants his own lithium - a bit nervous. M.Cap AUD 31 mill


 
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