Ann: Major Increase in Mine Life for the Nolans Project, page-6

A super result koro! I express my sincere gratitude to the ASX for putting ARU into a TH which bought them time to disclose the "material assumptions" including the financial metrics.

It's worth investigating this a little further, particularly their base case NdPr pricing which is the basis for the financial analysis. ARU has now re-published its DFS (Roskill) price deck, thanks again to the ASX. Last December HAS released an NdPr pricing forecast in an investor presentation, check it out. I believe the CRU price forecast was used by HAS in its Reserves financial analysis (BTW all of HAS's Reserves are Probable, none is Proved, I wonder why that is?). It's clear that CRU's forecast is way more aggressive than the one used by ARU for the DFS and the Updated Mining Inventory.

How believable HAS's CRU price forecast is, I'm not qualified to say. I'd be interested in others views on this. I can only imagine how much ARU's NPV and IRR would increase by if they could apply CRU's NdPr price forecast