$43.74 per ton gross at Prairie LakeUsing the table provided in their latest NR, i ball parked the gross value per ton for the rare earths & phosphates.
Value per ton in USD:
Phosphate 2.54,
Niobium 19.38,
Tantalum 4.53,
Lanthalum 0.46,
Cerium 1.27,
Samarium 0.10,
Neodymium 15.27,
Yttrium 0.18,
Total 43.74
At 85% recovery, 37.17
Assuming a $20 per ton operating cost per ton for an open pit mine, this resource would be profitable. The CAPEX would be lower than most due to the fact that the resource is near surface (starting at 3m), & infrastructure is very close.
The big problem here is, how does a $0.02 stock move forward? They need more drilling for a resouce estimate, then a PEA, then a FS, & permitting. That costs more than they can foreseeably raise without a giant increase in SP. The reason to invest for me would be a buyout. A JV is unlikely imo. They certainly cant do it alone. And there is substantial risk they will do a big reverse split & then PP from there for eons. This one goes on my watch list. I am tapped out on other great projects. The scarcity & necessity of rare earths make this stock likely to move up the radar of majors.