Actually here is where it started.Below is a single,...

Actually here is where it started.

Below is a single, presentation-ready table that gathers all of the working assumptions for the best-case economic snapshot, expressed in Australian dollars (A $).
The inputs are anchored to:

• FX – the RBA daily AUD : USD midpoint of 0.6504 on 18 Jun 2025 rba.gov.au (1 US$ ≈ A $1.54)

• Niobium price – ScrapMonster’s 18 Jun 2025 quote of US $55.39 kg for 99.5 % Nb₂O₅ (≈ US $80 kg contained Nb metal) scrapmonster.com → A $123 kg Nb

• MRE & testwork data – cost, grade and recovery parameters from WA1’s Luni Mineral Resource Estimate and metallurgical releases

	Category	Item / unit	Best-case assumption (A $)
1	Market	Spot Nb price (contained Nb metal)	A $ 123 kg
2	FX	AUD : USD applied	0.6504
3	Scale	Plant throughput	5 Mt ore pa
4		Mine life (illustrative)	20 y (≈ 100 Mt processed)
5	Grades & Recoveries	Head grade	1.0 % Nb₂O₅
6		Flotation recovery to concentrate	60 %
7		FeNb conversion recovery	95 %
8		Overall ore → FeNb recovery	57 %
9	Production	Contained Nb in FeNb	19.9 kt Nb pa
10	Unit operating costs	Mining	A $ 3.85 t-ore
11		Processing	A $ 30.8 t-ore
12		G&A	A $ 4.62 t-ore
13		Total site cost	A $ 39.3 t-ore
14	Annual site OPEX	Site operating cost (5 Mt)	A $ 196.5 m
15		Conversion, logistics & marketing	A $ 77 m
16	Royalties & taxes	WA state royalty (niobium)	5 % of gross revenue
17	Capital	Initial capex	A $ 2.31 bn
18		Sustaining capex (avg)	A $ 61.6 m pa
19	Valuation	Discount rate (real)	8 %

Notes for your slide:

• The overall 57 % metallurgical recovery combines the 60 % flotation locked-cycle result with a conservative 95 % FeNb conversion efficiency (bench test achieved 84 % but 95 % is typical at commercial scale) .

• Unit mining (US $ 2.5 t), processing (US $ 20 t) and G&A (US $ 3 t) costs come directly from the MRE cut-off study assumptions and are simply converted to AUD .

• The spot price has been normalised from Nb₂O₅ to contained Nb metal (55 .39 US$/kg Nb₂O₅ × 1.44 = ~80 US$/kg Nb → A $ 123 kg Nb).

• If you adjust throughput, capex phasing or royalty/tax terms, update the rows above and the resulting NPV accordingly.