Australian Shares Sparty's Blog
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Main Forum•Lynas Corp Mt Weld gets much bigger
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Today's news of Lynas Corp's large upgrade of its resources is both welcome and expected.
Increase in Mt Weld Resource Estimate for the Central Lanthanide Deposit and Duncan Deposit (pdf download)
Highlights- The Mineral Resource estimate for Mount Weld is now 23.9 million tonnes, at an average grade of 7.9% REO, for a total of 1.9 million tonnes REO. This represents a 37% increase versus the previous Resource estimate announced in September 2010 and a 34% increase in contained REO. This Resource is comprised of the Central Lanthanide Deposit and the Duncan Deposit.
- The Resource estimate for the Central Lanthanide Deposit has increased by 51% to 14.9 million tonnes, at an average grade of 9.8% REO, for a total of 1.5 million tonnes REO. This represents a 38% increase in contained REO.
- The Resource estimate for the Duncan Deposit has increased by 18% to 9.0 million tonnes, at an average grade of 4.8% REO, for a total of 431,600 tonnes REO. This also represents an increase of 18% in contained REO.
Thus the world's richest REE deposit has gotten bigger and richer!
I hold LYC.
Read about Australian Rare Earths at www.australianrareearths.com -
Hi Sparty, Do you know the estimated mine life increase?
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No I haven't seen the new figure. I suspect that it wouldn't be valid to multiply the current life of mine estimate of 20 years by the 34% increase as much of the increase is due to increased grades.
