Many thanks for that, Now I see the problem, He is a Geologist ! He might know a hell of a lot about Ore Deposits, but where is his Mining and Metallurgy experience ? Being able to quantify a mineral resource is one thing, however valuing it requires a detailed understanding of both the Mining and Extraction Process'. hence the requirement for a BFS & EIS etc, which I understand are still in progress.
Even SF2TH would only put a value of 20-30% on a Project at this Stage of development, from memory he did not reach a 75% NAV until the Project had been constructed and ready to go into Production, please repost your table of benchmarks if I have them wrong.
Rare Earths News, page-676
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