You did well. A lot got burnt. ADN was a clay deposit of REEs wasn't it? And like many clays the REEs at Andromeda are absorbed into the clay particles and cant be got out except by use of conc. strong acid. Only adsorbed clay deposits are economic (where the REE ions are losely attached to the surface of the clay)
The REEs at Sandy Mitchel are bound in the original monazite mineral - that still requires acid to break it, but you concentrate the feed (gravity tables etc) so the acid usage is much much lower than when applied to low grades of REE in clay.
The two deposits are not comparable.
Sandy Mitchel also contains heavy mineral sands (rutile etc) their value is down a bit (see Iluka news or Q report)- the PFS which we are waiting for will tell the story - including off-take values. Then the grant of a ML, which IMO could be soon with new State Govt., will move this show quickly.
AHK Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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