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neodymium (“Nd”)
– a metallic element of the lanthanide series, occurring principally in REE
fluorocarbonate and monazite minerals. Nd is a key constituent of NdFeB permanent magnets and an additive to
capacitor dielectrics. NdFeB magnets maximize the power/weight ratio and are found in a large variety of motors,
generators, sensors, and hard disk drives. Capacitors containing Nd are found in cellular telephones, computers and
nearly all other electronic devices. A minor application of Nd is for lasers.
open pit
– surface mining in which the ore is extracted from a pit or quarry. The geometry of the pit will
vary with the characteristics of the ore body.
ore
– mineral-bearing rock that can be mined and treated profitably under current, or immediately
foreseeable, economic conditions.
ore body
– a mostly solid and fairly continuous mass of mineralization estimated to be economically
mineable.
ore grade
– the average weight of the valuable metal or mineral contained in a specific weight of ore (i.e.,
1.5% REO/tonne).
oxide
– for purposes of the deposits found at the Bear Lodge Property, rare earth bearing mineralized
material that results from the complete oxidation by natural processes of sulfide-bearing material.
p.a. –
per annum.
praseodymium (“Pr”)
– a metallic element that constitutes about 4% of the lanthanide content of
bastnasite and has a few specific applications, based mainly on its optical properties. It is a common coloring
pigment, and is used in photographic filters, airport signal lenses, and welder’s glasses. Because it chemically and
magnetically is so similar to its periodic chart neighbors Nd and La, it is typically found in small amounts in
applications where Nd and La are popular, such as NdFeB magnets and catalysts. These latter applications are
actually the largest uses for Pr because the magnet and catalyst markets are so large. Thus Pr plays an important
role in extending the availability of the more popular Nd and La.
preliminary economic assessment (“PEA”)
– a study that includes an economic analysis of the potential
viability of Mineral Resources taken at an early stage of the project prior to the completion of a preliminary
feasibility study.
preliminary feasibility study
or
pre-feasibility study (“PFS”) –
each mean a comprehensive study of the
viability of a mineral project that has advanced to a stage where the mining method, in the case of underground
mining, or the pit configuration, in the case of an open pit, has been established and an effective method of mineral
beneficiation and processing has been determined. It includes a financial analysis based on reasonable assumptions
of technical, engineering, legal, operating, economic, social, and environmental factors and the evaluation of other
relevant factors that are sufficient for a qualified person, acting reasonably, to determine if all or part of the Mineral
Resource may be classified as a Mineral Reserve under NI 43-101 standards.
rare earth elements (“REE”) –
a group of metallic elements with unique chemical, catalytic, magnetic,
metallurgical and phosphorescent properties.
rare earth oxide (“REO”) –
the oxide form of REE.
RC (reverse circulation) drilling –
a rotary drilling method using either a hammer or a tri-cone bit to
produce rock cuttings that are forced upward from the bottom of the drill hole to the surface through an outer tube,
using liquid and/or air pressure moving downward through an inner tube.
recovery
– the percentage of contained metal actually extracted from ore in the course of
beneficiating/processing such ore.
samarium (“Sm”)
– a metallic element of the lanthanide series predominantly used to produce Sm cobalt
magnets. Although these magnets are slightly less powerful than NdFeB magnets at room temperature, Sm cobalt
magnets can be used over a wider range of temperatures and are less susceptible to corrosion.