I had a good read of the BRE prospectus this morning.
A couple of interesting points
-the IAC portion of the deposit is average 485Mt@~1100ppm TREO @ 200ppm cut off (TREO-CeO). The high grade sand portion drags the overall average up to 1500ppm TREO
-the met work on the IAC showed ordinary recoveries at 27% average. LREO only 21%. Worse still the largest deposit with the higher grade averaged 15% recovery
-The deposit will be enormous. But that's irrelevant without grade and recovery
-BRE appear to be relying on extremely high grade boulders to support their project. Not the IAC portion of the deposit.
In summary, it's not as simple as stating we have 3 times the grade BRE have with their IAC. BRE have a 3 pronged attack....rock, sand and clay. But we kick it's @r$€ on the IAC portion of their deposit.
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