RE: Re Rate17 Nov 2025 15:28
SML are sensibly using a 12 month rolling average of commodity prices to smooth out any excessive price fluctuations ...
'The high-grade tungsten intersections within the SVS are accompanied with varying grades of both copper and tin, consistent with Redmoor's polymetallic character, from which tungsten equivalent grades have been calculated using a 12-month rolling price (Oct-2024 to Sep-2025) of WOβ (APT Europe) = US$430/mtuβ΅, Sn = US$32,525/t, Cu = US$9,429/t (Table. 1), which aim to represent the total metal concentrations of each intersected mineralised zone. These prices compare favourably to those used in the Redmoor MRE (2019) and Scoping Study (2020): WOβ US$ 330/mtu, Sn US$ 22,000/t, Cu US$ 7,000/t.'