Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Seems he is talking about them as two separate mines - did he say something along the lines of that if Ascot turns out not to be commercial we still have 1.1MT at RC? Seems to me any buyer would put little to no value on Ascot until it can be proved up more. I expect no third party interest and maybe no funding opportunity for a while to warrant a phase 3.
I think you did miss the point JS The conceptual mining study will evaluate the potential to join both resources up to make it into one big open pit. If it doesn’t then the 1.1mt at racecourse will be the focus for the decision to mine.
"Seems he is talking about them as two separate mines - did he say something along the lines of that if Ascot turns out not to be commercial we still have 1.1MT at RC"
Not too sure how anyone could honestly come to that conclusion after listening to that interview.
No you didn't the message that came across is the blatant distortion of facts manipulated to
trash the share price without the right to reply.
The resource announcements are a "where we are up to" amount... a what we have so far. It can only get better. The pit study will be a "look what is possible here" study. It isn't going to be a grand total (so whats it worth) paper. Encircling with a JORC what we have so far was I believe meant to prove to anyone interested a factual amount of whats in there. As to why the market isn't getting it is beyond me and obviously leads to doubts but i still believe we will see a SP rerate sooner rather than later.
In a previous podcast CB spoke of the strip ratio tolerances that will determine wether they can both be joined up. Although it is of a low grade through ‘no man’s land’ it also stops 200m short below racecourse and mineralisation is also at depth. But if the study shows it could be economically viable to remove all the excessive overburden to get to the ore then it would have greater economic benefit overall to NPV
The alternative would be then that racecourse is stand-alone but with a strong chance that it can be partially joined up with Ascot, initially and I would assume concurrently mining the shallow high grade ore.
Targeted drilling programme to follow to increase tonnages determined by the conclusion of the study. I would be happy with that too.
howezap you are the ONLY person who is still clinging onto the possibility that they are joined up. They are not, CB even said it himself, and for as long as it is in XTR ownership we'll never know for sure because it will never be worth the money to drill more holes in an area which has already been determined to be of no economic interest.
@mattyashy. If often happens on HL with Xtr. I'm not sure it means too much. You could try buying any large amount in two blocks. It sometimes works but not always. And of course there are two dealing charges to pay.
I don't use HL, but broker's of that size/standing should always be able to help you deal via the telephone. try a call.
Yes you could well be proved right JS I just find it intriguing that I think on every podcast since the RC jorc was released he has repeatedly mentioned the hope that they can be joined up. Why would he keep bringing it up if there was no chance? And particularly since the markets reaction to the 1.1mt with the decision to mine being the only option and with CB admitting “that was my fault, I should have made it more clear. “
Since then, he has noticeably reined it in and is sounding far more candid. So he could well be just covering himself from failure by saying he doesn’t think it does join up if the mining study confirms it doesn’t. The fact is they simply do not know for sure yet.