General discussion, page-12882

Cheers @ozblue. Some other thoughts:

1. “Recoverable in-ground value” is a particularly meaningless intermediate metric, correctly punishing Luni for its lower recovery rates, but not rewarding its high projected margins, which also factor in a meaningful NPV calculation.

2. Realistically, given the geology of other enriched carbonatite plugs (Araxa, Niobec, etc.), and DD results so far, Luni seems likely to extend in depth at reasonable grade by several multiples relative to the ~30m weathered shell included in the initial MRE. The resource size will grow dramatically.

3. Like you, I expect all-in recovery to reach 60%, which would be a nice multiplier.

4. Hopefully the phosphates can be monetized too…