Ann: Phase 1 Metallurgy Gravity Test-work Delivers 60% REO Grade, page-54

Here’s a relevant discussion thread about similar deposits.
Take note of;

“…metallurgy is critical to the valuation of carbonatite related Re deposits as I keep banging on about. HAS can only get Yangi mon-con up to 27% TREO grade, requiring max capacity of 37ktpa hydromet plant. Oxide carb-plug supergene deposits are stuck around 15% TREO in mon-con, so 40% TREO for YIN if it's achievable in representative composites across the deposit is bloody fantastic.”

“…a plan to "produce a Yin concentrate on site" while avoiding any mention of hydromet. Drop the capex and opex right down to just a bene plant and sell a mon-con to third party for probably a higher NPV and much lower equity funding hurdle. I've posted detailed explanations as to why ILU and LYC might not have room to process ~30ktpa of Yin concentrate locally, so off-take is the issue with a concentrate only plan. The prospect of U&Th in the hydomet tails is problematic for many countries taking a mon-con (eg Malaysia and LYC)”




https://hotcopper.com.au/threads/ann-carbonatites-deliver-thick-near-surface-ree-results.7313095/page-153?post_id=67213710