Here is an updated spreadsheet of the mid cap REE companies....

Here is an updated spreadsheet of the mid cap REE companies. Happy for anyone to point out any incorrect information in the spreadsheet. A few observations.

1. A re-rate in market cap appears to occur when a jorc resource is published around the 500MT size and grades greater than 1500 ppm TREO.
2. The IAC jorc resource companies have the highest market cap.
3. ARA listed on the TSX is an interesting proposition. It has a market cap of AUD$78M but has AUD $38M in cash but only 168MT resource down to 8mtr depth only.
4. Assuming RDM can compete with these IAC's and from what some are saying, Sybella should achieve 500MT, so a $500M market cap could be achievable once a jorc resource is announced. The grades from memory are 1700ppm, so that also ticks an important box. The next box to tick is how well Sybella compares with the peer group basket price for magnets (DyTB & NdPr) in the second image below.





A slide from ARA's latest presentation dated 01 March 2024. Presentation link Presentation & Media (aclara-re.com)