Yep, that is great resource, and SGQ only drilled 50m and 10% of...

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stockbluesky

409 Posts.

78

07/08/24

12:17

Post #: 75107212
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Originally posted by ozblue: ↑

@stockbluesky ... So why don't you quote the MRE that Itafos came up with??

"An independent mineral resource has been estimated for the Araxá Project comprising a combined measured and indicated mineral resource of 6.34 Mt at 5.01% TREO (using a 2% TREO cut-off), 8.40% P2O5 and 1.02% Nb2O5"

That's the high grade bit, most of which is either under the massive tailings dam wall or just in from of it!! Pg64.

The only conclusion I can come to with the people not quoting the PEA already prepared for this project, warts and all, is that they are shills for the company, or perhaps just larger holders desperately trying to unload their shares before it all collapses.

Shareholders should be voting against this deal as it is not worth the money and will never be developed.

Perhaps some here should ask JP if any structural engineer has written a report that states the resource under the tailings dam wall and for the first 200 metres in front of it can be mined at all, without moving the contents of the tailings dam to another location. Plus how much such a task would cost, when it has to be moved.

The tailings dam and it's contents are the elephant in the room here, not the resource. After the Samarco disaster of the iron ore tailings dam failure of a couple of years ago, anything near a large tailings dam holding radioactive waste, no less, is the top consideration. Drill results are meaningless without this being sorted first.

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Yep, that is great resource, and SGQ only drilled 50m and 10% of the project area and they have such great resource which is very big, what will the resource be if we drill until 800m deep? what is LYC's updated JORC resource?

SGQ Price at posting: 4.0¢ Sentiment: Buy Disclosure: Held
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