RE:NXE Disappoints - Only 239M LBSNotice that between NXE's 2018 PFS and its 2021 FS the Arrow grade went down, the mining tonnage went up, and the reseve grew by only 5M lbs.
November 5, 2018 PFS
The PFS defines Probable Mineral Reserves of 234.1 M lbs of U3O8 contained in 3.43 M tonnes grading 3.09% U3O8 from the Indicated Mineral Resources. The Probable Mineral Reserves include diluting materials and allowances for losses which may occur when material is mined.
Mineral Resources are reported at a cut-off grade of 0.25% U3O8 based on a long-term price of US$50 per lb U3O8 and estimated costs.
February 22, 2021
The FS defines Probable Mineral Reserves of 239.6 M lbs of U 3 O 8 contained in 4,575 kt grading 2.37% U 3 O 8 from the Measured and Indicated Mineral Resources, summarized in Table 3. The Probable Mineral Reserves include diluting materials and allowances for losses which may occur when material is mined. A majority of the Mineral Reserves are based on Measured Mineral Resources, and 100% of the Mineral Reserves allocated to the Probable category based on the Project's current development stage.
Mineral Resources are reported at a cut-off grade of 0.25% U 3 O 8 based on a long-term price of US$50 per lb U 3 O 8 and estimated costs.