If anyone thinks this is a good announcement they are dreaming.. Firstly the 3 high grade samples are from 1 metre intercepts!!
Do you think anyone is going to fund anything based on 1 metre intercepts??
Then of course one of the holes is in the Eastern tenement where the company itself has stated they wont be doing any of the exploratory work or mining because of the old tailings dam!!
So which is it JP, collect stuff from where you are not going to mine, or has the company changed it's mind again after raising funds?? Good luck getting permits to mine under an old tailings dam in Brazil....
Could people invested here please go and look up the PEA done by Itafos for all the information they could possibly want.. The metallurgicals have been done, the processing plant to obtain all possible minerals devised, it's already all there, yet Itafos decided to sell instead of even developing a feasibility study, which was recommended in the PEA to add value to the project.
The real problem is that capital costs for constructing a processing plant have gone through the roof in the last 13 years while the revenue received for selling REEs and Niobium has fallen in the general commodity downturn...
https://itafos.com/site/assets/files/1773/itafos-araxa_technical_report_final-.pdf
(20min delay)