Douglas Orman

Douglas Orman sought clarification on whether the engineering enhancements for the Brook Mine's new flow sheet are expected to lead to a materially increased value relative to the $5 billion NPV mentioned in the September shareholder letter, beyond just the initial PEA.

Answer

Michael Woloschuk, EVP of Critical Mineral Operations, confirmed that the increased production from the new product suite and potential higher purity products significantly increase the basket price. He noted that internal estimates, conservative on purity, show a significant increase in basket price, with potential for further upside from high purity quartz and higher purity products like 6N gallium.

Douglas Orman sought clarification on whether the new engineering enhancements for the Brook Mine's flow sheet are expected to materially increase the project's value beyond the $5 billion NPV mentioned in the September shareholder letter, rather than just the initial PEA.

Answer

Michael Woloschuk, EVP of Critical Mineral Operations, confirmed that the new product suite and potential for higher purities are expected to significantly increase the basket price. He noted that current internal estimates are conservative, projecting 4N purities, but there's substantial upside with higher purities (e.g., 6N gallium, 5N quartz) and the inclusion of high-purity quartz.