Just some clarification to my previous post on the TREO it is...

Just some clarification to my previous post on the TREO it is 21% of 0.6% as pointed out by torzahav.

Which made me look at the numbers as to what value per tonne these early results would look like. As $ value just gives me a pitcure as to the discovery potential value but these are really early results and anything can be found in future drilling (good; bad; or fantastic). But the emphasis here is to show the support that Nd+Pr could give if the grades stay consistent (fingers crossed) - If my calculations are wrong let me know

	Element	Grade
1	Nb	1.00%
2	Nd + Pr	0.6% at 21% Nd + Pr
3	Nd + Pr grade	0.126%

	Prices		Tonne
1	Nb	$45 kg	$45,000
2	Nd	$126 kg	$126,000
3	Pr	$250 kg	$250,000

To obtain a value of a mined resource I assumed to mine 1 tonne of Nb you need to mine 100 tonnes of ore (grade1% Nb); assume the Nd+Pr grade is consistent at 0.126%. Plus value of Nd + Pr is at the lower value of $126,000 per tonne.
The end result from the below calculation is $608 per tonne

	Element	Formula	Value
1	Nb	100*1%*$45000	$45,000
2	Nd +Pr	100*0.126%*126000	$15,876
3
4	Total		$60,876
5
6	Per tonne	$60876/100	$608.76

But then you need to take into account the recovery rate, where the recovery rate is the quantity of metal available for sale after the refining process.
I referred to NioCorp for their recovery rate as they are developing a Nb mine in Nebrasaka (Elk Creek project, where the Nb2O5 grade on indicated mineral resource is 0.51% (reference:NioCorp presentation)) and they received publicity for their latest recovery rate of Nb of 90.7% on the 25 May 2023. More importantly their past recovery test rates were 82.4% and 86.8%. But because recovery rates are not always hit see CXO's latest quarterly where they received 49% I have shown recovery rates from 50 to 90% in the below table:

	Recovery rate	Value per tonne
1	50.00%	$304.38
2	60.00%	$365.26
3	70.00%	$426.13
4	80.00%	$487.01
5	90.00%	$547.88

But then deduct all other costs: production costs; royalties; depreciation; interest expense; tax; plus any other costs to find potential net revenue. But I have reviewed the NioCorp 40 page presentation to see if a low grade Nb mine is feasible. Just type in "NioCorp presentation" in your search bar if you are curious.

In the end each individual will need to make up their own minds to invest for the long or short term in ENR, or not invest at all.

All the best to those who take the risk.