explanation of today's positive ann

For those that aren’t sure what the figures meant in TODAY’s Announcements, here’s a quick sum up.

Today’s Ann suggested an Ore Reserve estimate of “1.64 Mt @ 0.42% WO3” for Stage 1.
The last estimate of THR’s “Ore Reserve” was announced back in 2007 & 2011
- 30/10/07 Ann suggested 2.15Mt @ 0.49% WO3 “OVERALL”
- 13/10/11 Ann gave a better idea of the Ore Reserve for different stages. “Stage 1” was suggested to have an “Ore Reserve” of 1.4Mt @ 0.6% WO3.

If you compare today’s announcement to previous estimates, the reserve size has INCREASED with minimal decrease in grades (%). Even at 0.49%, THR’s Tungsten grade is considered quite high.

- WLF has a proposed Ore Reserve grading of 0.19%
- CNQ has a proposed Ore Reserve grading of 0.10% (Stage 1), 0.075% (Stage 2) & 0.14% (Stage 3)
Stage 1 Ore Reserve of 2Mt @ 0.1% (2 yrs project life)
Stage 2 Ore Reserve of 3Mt @ 0.075%
Stage 3 Inferred resource (NOT Reserve) 39Mt @ 0.14%

Today’s Ann also suggested an INITIAL (Stage 1) Mine Life of 4 years. The DFS will be based around the 4 years suggested BUT keep in mind that the resource remains open at depth & only 35% of resource tonnage (4.7Mt) is included in this initial reserve/stage 1. These are TWO main factors that can potentially extend the project life. And as mentioned in today’s announcement…”Pit optimization studies by Runge, reveal that a relatively modest 7% improvement in economic factors have the potential to increase the reserve and mining life by OVER 50%.”

"4 years" mine life has NOT been over/under-stated by management IMO. The figure was mentioned several times in past announcements (it was previously estimated at between 4-5.7 years). 4 years is only a conservative number. The Project life/Mine life can potentially prolong as long as Tungsten prices maintain a steady rise.

NB: If you don’t understand the difference between “Ore Reserve” (i.e. Proven & Probable) & “Ore Resource” (i.e. Measured, Indicated, and inferred). Go look up wiki or other sites if you want an explanation. But generally speaking, “Ore Reserve” is defined as resources known to be economically feasible for extraction & is divided into Probable & Proven. Ore Resource is more accurate than Ore Reserve.

Please DYOR
Good Luck to All & Well done to those that held through the delay!
June is just the beginning of several more positive news anticipated!
DFS will be completed in June (as mentioned in today’s Ann)!

Kiddo