Ann: Maiden JORC Mineral Resource - Noombenberry Project, page-286

Not exactly.

Hammerhead resource is 27mt at 12,3% halloysite at 75% ownership.

Lrs 27mt at 8% halloysite at 100%.

If you reduce the halloysite by 25% ( due to the 75% ownership ) the hammerhead deposit is nearly exactly the same.

That would be 27,1mt at 8,6% halloysite.

You will think i am crazy for saying the following but you will see that Adn will dwarf Lrs later in the year.


The names changed since then but Tomney ( bronze whaler and tiger now )has an exploration target of up to 500mt.

Its 10 times bigger ( possibly ) than hammerhead. Names changed to tiger, bronze whaler and manta.

It's drilled sufficient but management are busy with the dfs so the jorcs will drop as an left field announcement after that.

But something to mind...Adn has a mine life of over 100 years now. Lrs also. The competition who has more is interesting but in all honesty it's irrelevant for the economics. Both players has gigantic deposits that will make money even when we are all long gone...