no worries
a mineral resource has an "in-ground" (in-situ) value which defines its worth
the "in-ground" value is the market price which a buyer in a takeover may buy the resource for
so iron ore, which currently sells for $150+ per tonne after mining & processing, may sell for $8 to $10 per tonne when in the ground
it may cost a takeover party $8 per tonne to buy the resource
so the $4 per tonne i have used is a very conservative (cheap) valuation
if NXR discover a high quality high grade resource they may be able to sell it for $8 per tonne
regards
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is it time to unleash the hounds, page-18
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