Erin's boron deposit is currently worth more than $5BFrom the 43-101 EV had 9 million tons of 40%B2O3 (saleable grade). Since the 43-101 they have hit more boron between Pobrdje and Piskanja, have completed the infill drilling, of which one of the holes was a "super hole", consisting of 150 feet of high grade boron. Only 6 to 8% of the Jarandol basin has been drilled! 9 million tons of 40% saleable grade X $500/ton (todays colemanite price) is $4.5 billion, but we are probably over 10 million tons of 40%B2O3 (saleable grade ) after the completion of the last drill program.
- Net operating margin: 68.7%
- Project payback within of 15 months from start-up
-Post-tax NPV (10%) of US$428M with an IRR of 64%
-Forecast annual revenue: US$97M
-Mine life: 21 years
-All-in cost/tonne of product sold (post-tax): US$165.75
-Good potential for resource expansion
A few years ago colemanite was selling for over $700/ton, and boric acid was $1400/ton
I find it very hard to believe no one has come foreward with any offers?