Hello. On face value, this is a brilliant announcement. What is brilliant about it?
1. Good grades of HM (heavy metals) of 7% to 12%.
2. More importantly, 21% rutile. Rutile is 95%+ titanium and a product in itself, selling for around US$1,800/t.
3. Low iron content in proportion to the titanium. Pseudorutile appears to be a intermediate between ilmenite and rutile. Ilmenite is titanium fused (inseparable) with iron. However, the quality of the ilmenite is higher when the iron content is lower. So if 21% of the titanium is rutile (thus no iron), I guess the 22% iron content is around 1/3 of the 69% pseudorutile/ilmenite content. I guess this is super high grade ilmenite, worth around US$350/t or more.
As I said, on face value, due to what appears to be the novel nature of this deposit, this announcement appears brilliant.
The tonnage is also potentially massive. 8km x 2km x 30m x 1.65 density = 800 million tonnes.
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