ASR (ASX) Ann: New Wishbone Yttrium Discovery at Mt Stirling Project

Originally posted by setfire2thehive: ↑

A miner.

I've just recently commissioned and now operating a new project in the northern goldfields (very close location to this). Something you'll find more info on if one was to sleuth through here but try to keep a level of anonymity. I've got a team of geologists and mining engineers reporting to me but this opinion is direct from me.

outside of that I'm consulted and been paid to review and do value assessment for projects for mergers/acquisitions. For the last 3-4 years I've focused on rare earth projects and have spoken to minimum 10 managing directors of asx listed companies. most of which still call me now. Sometimes to query sometimes to get advice. It is only an opinion, but a reasonably qualified one.

Ask management if they believe or know of 1000ppm xenotime deposit which is currently proven to be economical viable via a feasibility study. besides it will be 18-24months before any feasibility is actually done as they need a resource, net work and then time to complete it's a long way down to road and it's how companies often end up changing optic after progressing it to the point it probably doesn't or does worth pursuing. Irrespectively a lot of now profitable REO projects are only reflecting their NPVs as the prevailing pricing of oxides has went up. so what is unviable now might not be in 5 years time, especially those with heavy biased baskets.

And btw geologists (generally) make horrible investors. they're great are telling you what's there and get excited like a dog with a bone anytime something interesting pops up. What they won't tell you (with any implicit understanding usually) is how it can be processed, how it can be extracted and if it's remotely mineable. rare earths are more chemical/met than they are mining. it's not just about getting it out the ground that's the easy part. it's WTF do we do now?

Ken is and educated professor and I've read several of his writings. He is now being consulted on a suite of Rare earth project. ask him to go on record stating which one is the best risk verse reward for an investor? Won't do it - and logically so. it's not his role to state what will and will not make good investments. nor is it his role to talk about whether it's viable or not.

Sometimes when you're consulted it's under the proviso of, "we're paying you tell us what to do when we ask" when I've been engaged in that circumstance it's not in my remit to say it's my advice you're 90% chance of wasting your time here. it's to say, this is where I'd recommend drilling, this is where you probably find better grades this is the type of met work I would recommend etc etc.

Every single listed asx has a board of directors and educated people running them. When I see people stating "I think I'll take so and so's word" well sure do so. like every other listed company take their word. but 95% of exploration never make it into production. Statisically investing in the space you're more likely to back loses than winner (I myself have definitely done so as well)

directors are very apt with their words that they state things quite particular such that it remains accurate statements. You need to pin them in.

Q; "in your honest opinion is 1000ppm economically mineable as a xenotime deposit given it's got a basket value lower than NTU and 1/6th the grade"

typical A) "we've currently got met testwork program underway which will provide us better indication as to how the rare earth will liberate and preliminary results look very positive. we've only just started the exploration here as well, and the deposit is open at depth and we're seeing increased grades and depths. there's a high probably we can extend the size of the deposit. Our HREO to LREO is extremely favourable and rivals NTU. our deposit is also close to the surface so we'll have a reduced mining cost"

I will stop posting and if my opinions are not desired then I'd ask people to not tag as I re-iterate not here to ruffle feathers. I post on just as many stock I don't hold as I do. you generally don't get 10,000 lightbulbs if doing so vacuously.

"why are we still talking about ionic clay" because the company themselves is/has privately messaged people making direct comparisons to an ionic clay project. doesn't that reasonably skew the optics for a lot of the common punters.

in terms of basket and HREO/LREO it's factual, it terms of economics not in the same postcode.

in all likelihood and supporting data would suggest it's a xenotime hosted deposit. If they want to compare then Nolan Bore is almost definitely the better yard. the basket is lower and the grade is 1/6th the amount.

other xenotime deposits are pvw, ntu, rmx, even Iluka has a portion but mostly monazite, VML has some at north T, TAS was mucking around with Norra karr back in the day. recall it had 5400ppm or so with some zirconium credit.

Of course I'm making generalisations and assumptions where data is lacking. until they actually perform met testing you don't have any idea how it beneficiates to what extend and what the implicit costs of that method may be then there's a multitude of the other mining factors which also weigh in. grade, depth, strip. just going in precedence and similar style deposits 5000-6000ppm has been the grade of these deposit.

time and data will tell whether it's viable or not. It's all a game of risk and reward.

SF2TH

Expand

time and data will tell whether it's viable or not. It's all a game of risk and reward.
i think you nailed it right there brother focks,
Enough said

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Ann: New Wishbone Yttrium Discovery at Mt Stirling Project, page-116

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