Third independent assessment puts 'most likely value' of ISR Capital's Madagascar concession at US$48 mil

SINGAPORE (Sept 22): ISR Capital announced Friday that Behre Dolbear Australia (BDA) – its third independent valuer – has issued an independent qualified persons technical report on its tantalus rare earths ionic clay project.

BDA’s overall assessment of the value of the project at this stage of development is a range of US$25-75 million ($34-101 million), with a preferred most likely value of US$48 million.

This comes after ISR last month said the value of the Madagascar rare earth concession, of which it wants to acquire a 60% stake, will be “much lower” than the two earlier estimates that topped US$1 billion.

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