From EPM announcement 29th March announcement.
Let said the average quartz tonnage is 5,820,000MT at 92.5% which gives us 5,383,500MT.
The prices range EPM announcement stated of:
Powder US$ 1,000 – US$ 1,500 with ASP US$ 1,276
Grade I US$ 3,500 – US$ 5,500 with ASP US$ 4,460
Grade II US$ 7,500 – US$ 11,500 with ASP US$ 8,975
Grade III US$ 12,500 – US$ 19,000 with ASP US$ 15,126
Let just take the lowest price of Powder which is (1276 * 5,383,500) US$6.87 billions.
The market is yet to get excited is likely to have to do with a few reasons:
Not many are aware of EPM but GGG & Tanbreez with political and environment issues
The value of quartz & cryolite are not well known or easily to understand unlike the prices of copper, gold or iron ore but soon the market will understand the US$6.87 billions asset when an off take agreement is signed and this is just for their quartz only and yet to include the cryolite of few hundred millions and potential of others REE on their tenement as well.
It is certainly going to be a very exciting 2021 for EPM
(20min delay)