In the UK RNS dated 22/11/2010 there was a mention of Rare Earth...

In the UK RNS dated 22/11/2010 there was a mention of Rare Earth Element (REE). Did anyone comment on this at the time. Well I notified posters on the ADVFN.com REE thread and received a response based on the REE values supplied in the RNS.

I do not endorse the following info and do not have the knowledge to confirm any of the information. If anyone on this thread could help clarify the information? it would be very helpful.

The suggestion is we could have REE's valued at US$17bn at current selling price in our Firawa uranium project in Guinea!!!!!!!!!! This is obviously in addition to the the Uranium!

Quote from REE thread http://www.advfn.com/cmn/fbb/thread.php3?id=21497186&from=596

"Hyper Al, Using the numbers in your post and using the Nov. 30, 2010 pricing of the various rare earths per kilogram I come up with a value of $900.00 per ton of ore mined. Which as a by-product would be beneficial to the overall uranium operation.
I will post the summarization of the data at Other Information on http://www.pmem.ws/OTHERINFORMATION
"

From post on FTE thread at ADVFN.com
http://www.advfn.com/cmn/fbb/thread.php3?id=20018874&from=876

"The answer you got was very, very, interesting!! Have I got this right? 17.7mt of ore x US$900 per ton of ore mined = circa US$17bn as current selling price!! 11.6m lbs of U3O8 x US$60 per lb = US$700m as current selling price. Of course we don't know the likely extraction costs and CAPEX required.

If that is correct the REE's could be a much better find than the uranium."

Calculation used for REE value quoted from REE thread on ADVFN.com quoted from http://www.advfn.com/cmn/fbb/thread.php3?id=21497186&from=619

"The formula for calculating % distribution of rare earths in a deposit and the percentage of TREO's per ton is done the following method.

ppm defines exactly what the abbreviation indicates 1,000,000 parts of something
therefore ore containing 5330(PPM)of cerium, the percentage of cerium content in the deposit is calculated by multiplying 0.0001 by 5330 which gives you .5330%.
How did I get 0.0001 as a factor to be used in calculating ore concentration. Once again 100% would equal 1,000,000 parts, therefore (1) one part is equivalent to 0.0001%, 100/1000000. Simple math which some of us hated. I loved it, graduated in High School with Honors in math back in my days in the mid 50's.

Once you have calculated the percentage of rare earths in the deposit you now have to calculate the percentage of distribution and value content of each rare earth and that is done by first determining the total of (ppm) of all rare earths in the deposit and then dividing the (ppm) of each of the individual rare earths by the total (ppms).
When I added all the (ppms) of what Hyper Al provided I came up with 13,043 (ppm) of rare earth or 1.3043% multiplied 13043 by 0.0001.
Now the the deposit contains 5330 (ppm) of cerium, therefore the percentage of distribution of cerium in the rare earth content is 5330 divided by 13043 which comes to 40.865% of cerium in the TREO distribution."

If anyone knows some REE experts could you get them to have a look, it would be good to have their opinions on the above?

Have a good day.