Guys, I would like to remove the confusion with the HM content of the resources using ILUKA as the reference.
In previous announcements IMA have indicated that the HM content of some results was 80% and ilmenite was 67%, Zircon 7% and Rutile 6% (65+7%+6%=80%).
Iluka in their annual report quote the following assemblages:
ILUKA Reserve – HM Grade &
Assemblages
Assemblage
HM Grade Ilm Zirc Rut
% % % %
6.7 52 13 7
9.2 79 7 1
0.9 47 11 14
AS YOU CAN SEE ABOVE, 1-14% RUT is the proportion of the low 0.9%. In real terms this is less then 1%.
Lets compare apples with apples.
confusion on hm assemblage
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