# Mineral Road Discovery Updates on Australian Critical Metals Projects Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1 Original source: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2829-cse/road/212782-mineral-road-updates-on-australian-critical-metals-projects.html Publisher: jmn Original announcement: 2026-10-13T00:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-13T14:42:56.356Z Atlas analysis updated: 2026-10-13T14:42:56.356Z - Company: Mineral Road Discovery Inc. - Ticker: ROAD - Exchange: CSE - Region: Australia - Primary commodity: Magnesium - Secondary commodities: Vanadium, Molybdenum, Alumina - Document categories: Other, Resource update - Extracted: 2026-10-13 14:42:57 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary Mineral Road Discovery is evaluating strategic options for its Australian magnesium and vanadium projects to maximize value. The company is also focusing on its Bergslagen Tungsten Project in Sweden while highlighting market demand for critical minerals. Reasoning: The document is a corporate portfolio update discussing strategic options for existing projects rather than announcing new technical results. - Positive factor: Strategic positioning in critical minerals \(magnesium, vanadium\) - Positive factor: Strong market tailwinds for vanadium electrolyte and premium magnesia - Positive factor: Stable Australian jurisdiction - Negative factor: Reliance on historical resource data that is not being treated as current - Negative factor: Historical estimates do not meet current Canadian Mining Institute standards Facts used in scoring: 14 ## Classification and evidence **Stale Estimate** Polarity: negative Story-specific tag Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The historical magnesium and vanadium resources mentioned are from 1999 and 2018 respectively, and the company is not treating them as current. Evidence · text > The Company is not treating this resource as current. ## Extracted facts Stored fact records: 14. Some facts used in scoring do not have a stored record. ## Resource Estimates (14) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-0) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:6435e88fa72fe86a6c88 - Deposit or zone: Mount Hutton Central - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 12100000 - Grade: 40.1 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2016-04-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical resource restatement; not treated as current by the company. Evidence · text > historical JORC 2012 Mineral Resource at Mount Hutton Central comprises approximately 12.1 million tonnes Measured grading 40.1% MgO #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 10.5 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-1) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:a4665a4c4518372fcc7c - Deposit or zone: Mount Hutton Central - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 5500000 - Grade: 40.3 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2016-04-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical resource restatement; not treated as current by the company. Evidence · text > and 5.5 million tonnes Indicated \(with no Inferred component\), grading 40.3% MgO #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 10.5 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-2) vanadium Historical result Needs review: historical\_restatement #### Identity - Commodity: vanadium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:bb885c64ec85c5e0dde9 - Deposit or zone: Allaru Vanadium Project #### Resource Data - Category: inferred - Tonnes: 618000000 - Grade: 0.45 - Grade Unit: % V2O5 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2018-08-17T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical resource estimate from 2018; not treated as current. Evidence · text > hosts a historical resource estimate of 618 million tonnes Inferred Resources at a grade of 0.45% V2O5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 8.2 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-3) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:0dc9468d8c3a5c7e6956 - Deposit or zone: Witchelina #### Resource Data - Category: measured - Tonnes: 23700000 - Grade: 41 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 1999-08-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical estimate from 1999; not treated as current. Evidence · table > 41.0% Context: 23,700,000 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 27.2 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-4) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:0738bb4ad93678842df8 - Deposit or zone: Witchelina #### Resource Data - Category: indicated - Tonnes: 93000000 - Grade: 40 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 1999-08-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical estimate from 1999; not treated as current. Evidence · table > 40.0% Context: 93,000,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 27.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-5) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:61b9fde582baad7de794 - Deposit or zone: Witchelina #### Resource Data - Category: inferred - Tonnes: 98000000 - Grade: 40 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 1999-08-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical estimate from 1999; not treated as current. Evidence · table > 40.0% Context: 98,000,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 27.2 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-6) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:3d9ce866dba48658187d - Deposit or zone: Mount Playfair #### Resource Data - Category: indicated - Tonnes: 21000000 - Grade: 42.5 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 1999-08-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical estimate from 1999; not treated as current. Evidence · table > 42.5% Context: 21,000,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 27.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-7) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:3b4f8963bab241d6546e - Deposit or zone: Mount Playfair #### Resource Data - Category: inferred - Tonnes: 23000000 - Grade: 42.5 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 1999-08-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical estimate from 1999; not treated as current. Evidence · table > 42.5% Context: 23,000,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 27.2 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-8) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:e420b32d8f749efafd7d - Deposit or zone: Mount Hutton South #### Resource Data - Category: indicated - Tonnes: 30000000 - Grade: 42 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 1999-08-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical estimate from 1999; not treated as current. Evidence · table > 42.0% Context: 30,000,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 27.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-9) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:d9eef1570ad3221692e4 - Deposit or zone: Pug Hill #### Resource Data - Category: inferred - Tonnes: 9100000 - Grade: 42.8 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 1999-08-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical estimate from 1999; not treated as current. Evidence · table > 42.8% Context: 9,100,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 27.2 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-10) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:159720ddf1950b18abef - Deposit or zone: Pug Hill #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 38.6 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 1999-08-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical estimate from 1999; not treated as current. Evidence · table > 38.6% Context: 11,900,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 27.2 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-11) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:f99e1ea3d78e9cf5d996 - Deposit or zone: Termination Hill #### Resource Data - Category: measured - Tonnes: 4000000 - Grade: 42.8 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 1999-08-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical estimate from 1999; not treated as current. Evidence · table > 42.8% Context: 4,000,000 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 27.2 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-12) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:cf4bacb36be356387fd7 - Deposit or zone: Termination Hill #### Resource Data - Category: indicated - Tonnes: 5000000 - Grade: 42.8 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 1999-08-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical estimate from 1999; not treated as current. Evidence · table > 42.8% Context: 5,000,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 27.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/mineral-road-discovery-updates-on-australian-critical-metals-projects--8c9804d9-b781-4bb7-b217-7fef5992e4c1#fact-resource-facts-13) magnesium Historical result Needs review: historical\_restatement #### Identity - Commodity: magnesium - Region: australia - Reported Region: Australia - Ticker: ROAD #### Resource scope - Estimate type: resource - Resource group id: resource:4f810fcc9732f9c6a6b4 - Deposit or zone: Termination Hill #### Resource Data - Category: inferred - Tonnes: 20000000 - Grade: 42.8 - Grade Unit: % MgO #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 1999-08-01T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical estimate from 1999; not treated as current. Evidence · table > 42.8% Context: 20,000,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 27.2 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.