Delta Lithium, leap to the stage, please, sir. If you've had a chance to look into Delta, and they're just in the middle out there, you'll note their end game is to develop an operating mine. What they're doing on the way there to add value for us and how they're gonna get there, we're gonna find out now. Mr. Croser, how are you feeling?
I'm feeling good. Thanks.
Excellent.
Chrissy, how-
Welcome, welcome, everyone, please.
Thank you very much. Good day, everyone. It's great to be back in Freo this year, and I'm here to tell you about Delta Lithium. So I'll start with the capital structure. We think we're pretty tight. We've got a very good cash position, which we're very guarded of at the moment. Enterprise value of a little over AUD 100 million, and a curious scenario whereby our listed investments exceed that value by about AUD 20 million. We have quite a strong share registry, backed by Mineral Resources, Idemitsu, Hancock, and Waratah. Ably covered by our friends at Argonaut, Barrenjoey, and Bell Potter. So there's the board. We've been together for quite a while, a couple of years. There's a very good rapport in our boardroom.
We have some fairly robust discussions, but it's also quite helpful to have the likes of Josh and Steve on the board representing our two major shareholders, and Nada being chief referee. So where are our assets? For those of you that don't know, we are located in Western Australia. Still the best place in the world to do business for mining, despite slipping a little down the Fraser rankings recently. We have two JORC resources at Yinnetharra and Mount Ida. Significant lithium tonnage is about 37 million tons. Very large tantalum resource at Yinnetharra, and at Mount Ida. And most curiously, recently delineating quite a significant rubidium resource within the pegmatites at Mount Ida.
So, you know, we're quite happy with Yinnetharra. It's delivering some big tons. We need to find some more tons up there. We've built our position of the land holding up there. We dominate the Thirty-Three Supersuite. And at Mount Ida, we're fully permitted. We've recently spun the gold out into Ballard, so we have another good friend on the ground helping us out there. And upcoming catalysts, the drill program at Yinnetharra is winding up next month, so there'll be results from that. And we're pushing our mining and metallurgy studies, and some of the price decks on lithium are getting into the territory where it could well be time to finish off the PFS's. So let's talk about Mount Ida.
Very unique geology at Mount Ida. The pegmatites were kind of in the way of our gold resource. We bought this project for gold some years ago, discovered lithium. The pegmatites are quite well-defined now. We've drilled well over 100 kilometers of drilling up there. And within that pegmatite is a significantly high lithium resource, quite a high tantalum credit, and now, as it turns out, one of the highest, if not the highest, rubidium resources in the world. It does have a very significant Measured and Indicated portion now, over half of the size of that resource. Most notably, I guess, it's located on granted mining leases. It's fully permitted. People throw around shovel-ready a lot, but it really is shovel-ready.
There's no native title considerations, and the contained metal for those three elements I mentioned is really quite significant. So there's the pegmatites at Ida. We are in the curious position at the moment that our good friends at Ballard, of which we are a significant shareholder, are drilling. They've got six rigs up at Ida at the moment, and they've been drilling away happily, defining the gold resource, particularly at Baldock. And every time they drill through a pegmatite, we wander along and snatch up that sample and put it in for assay. So we really are getting free drilling at the moment, which is a pretty curious thing to have as an explorer.
And some of the best results that we've got from the pegmatites at Ida have come from that recent drilling, and they're in the brown boxes there. People talk about world-class location. You know, Kalgoorlie is a great region to be mining. There's lots of infrastructure in place, people, bits and pieces that you need for your operations. I did mention before, we're fully permitted. You can dig a hole there tomorrow, you can go underground. I think Ballard is approved to build a plant there, tailings dams, et cetera. We certainly hope to leverage off a lot of that capital expenditure that they might spend there, not in the least of which will be some of the mining holes that are dug for the gold.
At the very top, sort of at the ground level there, you see at the top of the Sister Sam, there's a measured portion in red. There's a gold pit there that digs up 200,000 tons of that ore body, and we're gonna get that for a fairly low mining cost. We'll stockpile that, and when we go underground, we'll use the same decline that Ballard uses to get the gold out. At best, we might get a half-price decline. I'm not sure it might be that good, but that's a capital free kick that we'll quantify in the studies. Later in the year, we'll have a better picture on that. Did I mention the high-grade rubidium?
In our drill database, we do have, I think, the best intercepts, 5 meters at 1.8. That was the first thing that piqued our interest, and that then led to the delineation recently of the rubidium resource. It exists within the lithium micas, the lepidolite, substitutes for potassium in the aluminum silicate, and it is quite pervasive. It sits within the pegmatite. It's coincident, so it represents a true co-product opportunity. We have done significant metallurgy at Mount Ida. The existing lithium flow sheet throws out the lithium and the rubidium in high grade, and we've extracted it recently. We've pulled out battery-grade lithium carbonate and high-purity rubidium carbonate.
Now, the last sale price that I saw from that on the Shanghai Metal Exchange was $1 million a ton, and we've got about 80,000 tons of it underground at Mount Ida. So how much of that we can monetize is yet to be revealed, but that's a rabbit hole we need to jump down 'cause it represents significant value. There's a bubble chart of the resources that I could find, JORC compliant, 43-101 compliant. And you can see Mount Ida sits up there as a real outlier in terms of rubidium. So we'll see where that ends, but we're certainly going to be talking to our friends in America and Japan, where it sits on the critical minerals list. We recently de-merged the gold from Ballard.
That investment's gone very well. 34.4% ownership sits on our balance sheet. I think it's probably worth in the order of somewhere around AUD 120 million today. So, you know, we're quite, quite comfortable with the, with the balance sheet strength that that achieved, and, like I said, good friends working together at Mount Ida, and we'll help each other, each other out a lot in, in the future. Yinnetharra, we've been drilling up at Yinnetharra recently, attempting to build on the tonnes at Malinda. We've got a mining lease application pending up there, in discussions with the traditional owners about how that will happen. It's a long process. It's a patient process.
We have had some success at Jameson, but we really need to find more tonnes up there, so it's real exploration work, and the guys are out in the field, and the girls. It's quite hot, doing good work and generating targets. There's Malinda. I think everyone's seen that slide. Most of the action's at the M1. We've done feasibility level work there, and we're hoping to build upon that as we continue the metallurgy on the M36 and the M47. There's a picture of the metallurgy work that achieved recoveries to the whole of ore flow sheet of about 70%. All this stuff will go into the studies as we proceed. We're currently working on how to fold the tantalum in.
Plenty of the tantalum is within the, the lithium, up at Yinnetharra, and also falls within the pit shell. So, the Japanese are helping us with that study work as we speak. And, for the rest of the year, we'll be continuing to generate targets there, following up on some of the results from the recent drill program and, seeking to add the tons. So what's our focus? Looking after the capital, building confidence. We're looking to build a mine, and, we'll look for some M and A if it, if it comes along. Thank you very much.