Yes, both miners are different. One is really a Rutile miner and...

Yes, both miners are different. One is really a Rutile miner and the other is a Zircon miner.


Can I just say one thing, ALL companies via presentations make their project look better (or not as bad) as other projects. When it's an early stage miner trying to get traction, they do this via caressing what JORC numbers they use. Some use Ore Reserves, some use Mineral Resources and it's not fair for the average punter to know the differences. Both Base and Sheffield have done this and it annoys the crap out of me.



Here's two examples in reference to AccountCracker's post regarding grade numbers.

Base


Thunderbird's TiO2 is higher than this, so I'd love to know how Base haven't got it as high as Toliara.

(Maybe because they used a low TiO2 cut off grade - that's just a guess, but is that reasonable?)


SFX



Where's Toliara? Is it because Base used a Mineral Resource rather than an Ore Reserve?



You can see how the games go on to make their project look better and it would be easy to make assumptions either way. I could keep going deeper and deeper, oversize, slimes, overburden, impurities, but that won't give an answer - and then it becomes subjective, particularly when you have outside issues like NT and sovereign risk.

What I can say is this. Both Thunderbird and Toliara will come online. Will that unbalance the sand market, particularly Zircon? No I don't think so, there are mines that will be closing over this period and they will just fill that gap.


P