Each one in plain English, with the numbers worked through for a shareholder.
4 Mar 2024resource reserve update▲ GoodMajor
Published a new S-K 1300 mineral resource estimate for Bull Hill deliberately refocused on the magnet-material elements (neodymium, praseodymium, terbium, dysprosium) using a higher-grade, smaller-pit design — a strategic pivot toward the highest-value rare earths as the demonstration plant that will process them is under construction in Upton, Wyoming, under new CEO Brent Berg.
Updated the Bear Lodge Pre-Feasibility Study with a smaller, cheaper design (initial capital cut from $375 million to $290 million) that still delivered a $330 million after-tax NPV and 29% IRR — a deliberate scale-down to stay viable through a weak rare-earth pricing environment, with an expanded 40+ year resource base.
Raised its measured-and-indicated resource a further 10% to 7.5 million tons, with inferred resources up 61%, continuing the steady expansion of the Bear Lodge deposit.
Delivered a positive Pre-Feasibility Study for Bear Lodge: technically feasible with robust returns, life-of-mine capital costs estimated at $445.9 million, clearing the way toward a bankable feasibility study.
Reported the best gold drilling results in the district's history from its Sundance Gold Project — which surrounds the Bull Hill REE deposit on the same Bear Lodge property — including a new high-grade discovery at the Smith target.
Raised its Bull Hill measured-and-indicated resource 38% to 6.8 million tons at 3.75% rare-earth oxide, with total contained REO across all deposits up 26% to 1.83 billion pounds, feeding into the pre-feasibility study due in Q1 2012.
A second 8-K, filed two weeks later, re-disclosed the identical October 27, 2011 drilling-results press release already reported on November 2 — a duplicate filing rather than new information.
Reported initial 2011 drilling results from 21 holes at Bear Lodge: strong rare-earth intercepts at Bull Hill and Whitetail Ridge, plus a new discovery at East Taylor where rare earths and gold overlap in the same holes.
Completed bench-scale metallurgical testing on high-grade rare-earth vein material from the Bull Hill deposit at its Bear Lodge project in Wyoming, predicting 80-85% REO recovery and moving into pilot-plant testing — the technical basis for a coming pre-feasibility study.