RE: Shares1 Oct 2025 09:36
Gross in-situ metal value (no recoveries, no costs — purely contained metal × price)
I calculated three price scenarios (low / mid / high):
ZrO₂ value
low (US$4,000/t): 1,564,000 t × $4,000 = US$6.256 billion
mid (US$5,500/t): 1,564,000 t × $5,500 = US$8.602 billion.
Metal
high (US$9,000/t): 1,564,000 t × $9,000 = US$14.076 billion
Nb₂O₅ value
low (US$40,000/t): 629,000 t × $40,000 = US$25.16 billion
mid (US$50,000/t): 629,000 t × $50,000 = US$31.45 billion.
Metal
+1
high (US$60,000/t): 629,000 t × $60,000 = US$37.74 billion
Combined ZrO₂ + Nb₂O₅ (gross contained metal value)
Low price case: ~US$31.4 billion
Mid price case: ~US$40.05 billion (US$8.602B + US$31.45B)
High price case: ~US$51.82 billion