MTM - Niobium Grades of up to 36% at recently acquired project, page-40

Imagine you have a big box of dirt. Inside that dirt, there are some rare earths, and we measure them using something called TREO (Total Rare Earth Oxides).

Now, let's say in every big box of dirt, there are 4000 tiny parts of rare earths for every million parts of dirt. That's 0.4% of the dirt.

Inside that 0.4%, let's keep things simple and say there are two types of rare earths. We talk about the "weight," which is just the percentage of each of these rare earths in that 0.4%.

So, out of those 4000 parts, if one of the rare earths, like Niobium, weighs 36%, it means 1440 parts are Niobium, and the other 74% (2560 parts) is the other rare earth.

Now, when we talk about "grade," it's like a special way of looking at things. If you take those 1440 parts of Niobium and compare them to the whole big box of dirt (which is 1 million parts), the grade of Niobium is 0.14%.

The tricky part is when someone says "grade" in the title, but the article talks about "weight." This can be confusing and might mislead people. So, when you hear about stories like "WA1," it's essential to understand if they are talking about the percentage of a specific rare earth (grade) or the percentage within the total rare earths (weight). This helps avoid confusion and makes sure people don't get fooled when they're hoping for a quick profit. Always check the PPM of TREO to get the real picture - for example, if it's 100 PPM with 36% Nb205 weight, then the Niobium grade is just 0.0036%.