Ann: Massive Maiden Mineral Resource for Ema Project, page-46

Where did you get 4-5 times from? 2626 / 793 = 3.3

You need to compare grade-tonnage curves, recoveries (the high grade/high recovery portion will drive the economics), metallurgy, geometallurgy, etc.

MEI's processing might be more costly on a per tonne basis if they need to remove radioactive elements for example.


One big difference is BCM's resource is soft saprolitic IAC only as mentioned in the ANN. MEI and others are including the higher grades from non-IAC or fresh rock in their resource which will not be mined using super cheap ionic extraction methods.

It would be good to compare all of the companies on a saprolite/IAC only basis. I did that with BRE which dropped the grade substantially (1513ppm --> 1,071ppm IAC only, 50% lower than the headline grade).

Could be the same for MEI.