accurate statement here.
average thickness of 1-2m but maybe on average 10m deep.
that's a 5:1 or worse strip ratio.
AR3 is like 2:1
an economical project needs to have mineralisation as thick or thicker than the overburden.
so unfortunately as you point out. even if they had 200mT imho it's not economical viable to mine. ar3 is not quite there either imo as the acid consumption in their leach was higher and strip worse compared to economically viable deposits.
It's a tiny mc and I stated publicly after reviewing ancient host mineralogy reports that rbx would likely find REO and be ionic and that the RvR is better than others hitting the same but non ionic. unfortunately like ar3 it's very thin, but rbx looks like the strip is worse and thus the MC far less.
is 6-7m fair value? maybe not on a peer comparison but unfortunately unless they start hitting consistent mineralisation that is thicker than it is deep... no dice.
SF2TH
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accurate statement here.average thickness of 1-2m but maybe on...
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