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Novac

6,868 Posts.

1381

01/07/24

18:37

Post #: 74554670
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Originally posted by $$$$$$$$: ↑

WA1 is not the 2nd largest Niobium Mine Anywhere. IT IS NOT EVEN A MINE !!!!

It likely never will be....IMO.

Australia has ZERO Niobium Mines !!!!

That was only an "initial Inferred MRE"

So they will need to do more drilling and
do further surveys & do "MRE's" as time goes on.

Do a feasibility study,
Work out their transport cost,
Which in WA1's case will be huge as it is in one of the furthest places possible from a port,
Then they need to Plan and Build a Refinery,

Then there's the fact that WA1's ground is in Australia,
Where their is a lot of red tape, permits, and studies required.
Like Flora and Fauna,
Native Title,
Environmental studies,
And more....

So maybe in more than 5 - 10 Years,
WA1 may be ready to submit a request for a Mining Licence.

By then SUM will likely already be Mining,
Due to things just happening faster in Brazil,

And the fact that:

The Geo has done it before,

Geo has actual experience with Niobium and Niobium Mines,
As well as refineries.

80% of the World Niobium comes from Brazil,

There are Refineries there,

It is closer to Transport,
&
Brazil has a quicker and more efficient approval process....

Expand

There are Refineries there,It is closer to Transport,

Assuming SUM find something, are they going to transport is to the other side of Brazil to CBMM?

That was only an "initial Inferred MRE"

Yeah an initial MRE that confirmed the 2nd largest Niobium resource in the world. First of its kind in 70 years. The resource is only going to get bigger.

For you to state that WA1 will likely never mine and then say SUM will likely be mining way before 8-10 years, that is just delusional.

SUM HASN'T DRILLED A SINGLE HOLE

I don't care how much experience your geo has, either he or Ronald Mcdonald have the same knowledge on what lies underground, no one knows till the drill hits the ground.

How many niobium deposits found in pegmatite?

Australia and especially WA is one of the best mining juristictions.

If WA1 is no chance then you obviously know more than the big funds that invested.

Which big funds have invested in SUM?

Couldn't help myself to post again because when I see BS, I'll call it out.

Last edited by Novac: 01/07/24

SUM Price at posting: 34.5¢ Sentiment: None Disclosure: Not Held
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