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.....
LYC Price at posting:
$7.24 Sentiment: Hold Disclosure: Held
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