I won't speak for Tuke, but I don't like EUR's deposit at all. Info below from various sources.
'The spodumene-bearing pegmatites have been traced over a length of 1.5 km along strike and to about 450 m down dip. Their average thickness is 2 m, with a maximum of 5.5 m.'
Note that the resources above (from the company's website) are compliant with JORC (2004); for JORC (2012) the Measured becomes Inferred and the remainder constitutes an Exploration Target.
Type Million Tonnes Grade Li2O(%) 1 Measured*[/B] 3.7 1.5 2 Indicated 3.2 1.2 3 Inferred 10.0 1.2
Compared with other deposits the host pegmatites are narrow and impersistent, hence low tonnage. From an investor perspective, the cross section below is pretty scary.
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All of the guff on their website suggests underground extraction. If the product was tech-grade (low iron for glass/ceramics industry, commands a substantially higher price) they might be able to get away with it, but:
'Spodumene contains 7.4% Li2O and 0.45% FeO...'
Good luck to EUR investors, but it aint for me.
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