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lightbulbnz

1,158 Posts.

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29/05/24

15:30

Post #: 74066412
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Originally posted by T2CupAndHandle: ↑

I can probably answer point 6 quite definitively. If pH 0, the project is worthless based on how the market is valuing peers. A REE clay developer based in WA released an updated JORC today, indicated resource 120 Mt @ 1632 ppm TREO. They use pH 0 and get "good" recoveries of 60% average. Strip ratio is decent at <1 so that isn't a factor in valuation. Market them valued at $0.7 m project EV.

Based on this, and VMS average drill grades being comparable at ~1550 ppm TREO, if their mets rely on pH 0 then the market would value the project close to nil. There's a few other peer examples using pH 0 to draw on to support this argument, but I won't list any as I am not advertising a bunch of dog stocks here.

Now, AR mentioned "ionic" many many times with Samso. That has a widely accepted definition of pH 3 to pH 4 leaching with a salt (like ammonium sulphate). AR would not be throwing around "ionic" with such abandon if he didn't have some met work in his back pocket at pH 3-4 right?

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thanks

and,leaving aside AR's samso ionic comments, how likely do you think it will be to extract the rees at ph 3 or 4 based on the other information that is now available?

VMS Price at posting: 2.8¢ Sentiment: Buy Disclosure: Held
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Last 1.2¢		Change 0.000(0.00%)		Mkt cap ! $32.04M

Open	High	Low	Value	Volume
1.3¢	1.3¢	1.2¢	$13.76K	1.064M

Buyers (Bids)

No.	Vol.	Price($)
14	6481237	1.2¢

Sellers (Offers)

Price($)	Vol.	No.
1.3¢	1896277	6

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No.	Vol.	Price($)
14	6481237	0.012
31	10589725	0.011
16	6299595	0.010
6	3690635	0.009
4	3163750	0.008

Price($)	Vol.	No.
0.013	1896277	6
0.014	2340000	5
0.015	600000	3
0.016	1750000	3
0.017	1296699	6

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