So back in October 2004 Lynas released
A New Niobium Rich Rare Metals Resource at Mt Weld, WA
HIGHLIGHTS
- A globally significant niobium rich rare metals resource has been defined. This resource is separate and in addition to the Mt Weld Rare Earths Project
- The new 37.7 million tonne resource derives over 50% of its value from a mine grade of 1.07% Nb2O5 (niobium oxide). After by-product credits the equivalent niobium oxide mine grade is 2.1%.
- The scoping study economics indicate at 1 million tonnes mine production per annum a +35 year project life with capital cost estimated at US$350m, annual operating income of approximately US$85m, and net profit after tax greater than US$40m on an un-geared basis
WA1 is currently sitting at about $5.80 it would be interesting to see what affect another announcement from Lynas about further targeting Niobium production in addition to rare earth.....
Niobium
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