Ann: Strong Results for Tanzanian Mineral Sands P, page-12

re: Ann: Strong Results for Tanzanian Mineral... Supporting what Cdchi1 has said, it's worth pointing out that the strong points made by Mason Graphite don't tell all the story.

A closer look at their report shows that they need to do a lot of digging to get at the graphite ore. Unlike SYR at Balama, where large amounts of rich ore outcrop at the surface, and virtually no waste material will be mined for many years, Mason Graphite, at Lac Gruet, must remove 76 tonnes of waste for each 100 tonnes of ore they access.

In addition, the amount of graphite in the Mason deposit is a little over one percent of that at Balama West alone. This has to offer the opportunity for major economies of scale.

Mason don't even have an advantage in terms of infrastructure. There is no electricity - the whole operation has to be supported by diesel-powered generators - and transport distance to a port is similar to that for Balama.

And, as Cdchi1 stated, the vanadium at Balama is probably sufficient to make it economic to mine for that alone - and certainly enough to cover the mining costs.

The dominant market share will go to the lowest-cost producer, and, right now, that mantle belongs to SYR. Nobody else comes close.

Cheers, Prime1