JORC Mineral Resource Estimate work done quickly, which is a great result for holders - now for the PEA to see what it is worth in the LT.
The incredible news though is that it is still only $7 mil M.Cap. with cash on hand (and the other projects waiting in the wings)
Its very difficult to estimate a PEA - but with
Current prices of rare earths
| Commodity | Specification | Price in USD |
|---|
| PrNd mixed metal | Pr 25%, Nd 75% FOB China | 64.0-65.0 |
And the resource table anned today saying 9100 tonnes LREO -- you get a mined and processed value estimate of those metals alone of USD580 mil.
Account it at in ground value of 5% gives a value of $US 29,000,000. For the LREO which I assume is mainly Pr and Nd.
Other REOs and heavy mineral sands adds value - but very importantly
the area represented in this resource is only 2.1 % of the anomaly. Hence the importance of phase 2 drilling results due soon. (and further expansion)
Keen to hear other's take on this matter - I have to insist on IMO and e&oe.
Cheers.
(20min delay)