Funny how the old MRE was 45Mt, now it's 45Mt of eudialyte. But...

Funny how the old MRE was 45Mt, now it's 45Mt of eudialyte.

But look at the met flow sheet.



This matches the tonnages of the 2016 resource, and the grade, and the drilling data grade averages released 13th march.

So today, EUR would have you believe that they have 45Mt of Eudialyte, where previously they had 45mt of ore. Magic. But that then means they have >250Mt of ore.

But they'll be treating 2.5mtpa of ore, as per the above, producing 430kt of eudialyte. The maths ain't mathsing up.

Funny thing is, Maynard's resource in 2016 was 45mt. This was within 100m of the drilling. There's no more drilling, the estimation parameters are exactly the same. Maynard didn't estimate eudialyte, he estimated the ore. So the same tonnage of ore exists. Except, EUR needs to justify its production targets out for 25+ years so its solution is...just say there's more ore.

Not how this works.