game on!!, page-7

Hi Kickit2me,

CUX does have a JORC resource estimate, but it is over less than 1% of the alluvium fan. So extrapolating the JORC resource estimate (235,150 tonnes TREO) which is admittedly dangerous, CUX could have a resource of over 23,500,000 tonnes of TREO spread over 2000 sq kilometres.

So while the scoping study says a mine life of 20+ years it could be at the rate of extraction of 12MTPA could actually be 2000+ years mine life. This is not a problem because as the CUX resource covers 2000 sq kilometres the ability to scale up operations is dramatic.

Charlie Creek is an exceptionally large resource. The real question was costs due to the low grade. That question appears appears to be answered now in the scoping report and not only are the operating costs low, the capex costs are extremely low.

It is interesting management did not include income from Zircon, which ARU states, from memory is valued at possibly $6 to $9 dollars.

I agree and have had difficulty in dwelving into the numbers as more uncertainties become revealed e.g. there is not a central market for individual rare earths. Basket prices will alter by what an end user actually wants from the mix provided, surely.

I don't know how much HREO LYC Duncan has, but the posibility of about 4,000,000 tonnes of HREO at Charlie Creek would indicate a HREO resource in my opinion. How many tonnes HREO has HAS, TUC or NTU?

I believe both HAS and CUX have extremely large HREO resources which should bode well for Australia, but you are right, rare earths aren't the darlings of the stock market they used to be. But that can't last forever if we want to use resources more efficiently.

Of course DYOR and I would like to see the results of you care to share them.

Cheers,

Stoops