RE: New Presentation - jagdipYou're right. 2% is uneconomic. Using a lower cutoff, overall metal content increases even though average profitability will decrease. The challenge is to find where the added revenue outweighs the added costs.
It looks like ~3.5% is the appropriate cutoff at current prices (about $108/tn or >~2x mining cost) giving another ~50MM lbs. Less mill recoveries and dilution, total additional economically recoverable metal is in the ~35MM lb range at current prices, or about 12% more production.
I think it's reasonable to assume that at least 300MM lbs will be produced from R190, up from 287MM lbs using current 5% cutoff.