Just did a quick dirty calculation of the equivalent of our new...

Just did a quick dirty calculation of the equivalent of our new assays to gold explorer assay...

Gold at 1gm/t has a value of $A108 as of today. So how much are our assays 'worth' per tonne?

Simple at 34m of 4.79% niobium is 'worth' at current $US50,000/t =

49.7kg X $US50/kg = $US2,395 = $A3,684 in a tonne of dirt with 9,300ppm of TREO and 20% P2O5.

All up a bit over $4,000/t, so Gold equivalent of 37G/t, in other words exceptional!!

What about the 'ordinary' longer lower grade stuff like LL23024 63.2m @ 1.64% Nb2O5??
That comes out around 8g/t, again an exceptional high value find for a small explorer.

These sorts of equivalent grades for a gold explorer would send the SP into the stratosphere. Speculators don't understand niobium, but are use to gold grades. If we ended up with 200,000,000 tonnes of ore at an equivalent grade of just 1% Nb2O5 including the TREO and the P2O5 (assuming it's mineable), then that is 2B kgs of Nb2O5 at a 'price' of $US50/kg.

The actual 'equivalent' grades I have worked out above are assuming a very low TREO price, as I used a very low concentrate price, so my numbers above should have a couple of g/t added, but I can't be bothered to work it again...

The Lynas mine at current value of $US13.50/kg for TREO in concentrate (rough) is about 10.8g/t equivalent for their reserve at 8.8% TREO.

WA1 has at least 5-10 years of higher grade ore (~2%) at a 1Mt/a rate of mining, producing something in the order of 16,000-18,000 tonnes of Nb2O5 equivalent or $1.3B in revenue per annum. This is also extremely conservative!!

There is no way the really big miners are NOT watching this very carefully!!