Ann: Trading Halt , page-4

This resource upgrade must be the last building block required for the BFS. A mine life of say 15 years would give a green light on this parameter. On recent drilling results - some of the widest and highest grade - this should be a reasonable target.

The concentration/metallurgical process flow sheets appear to be progressing well and the product at 92%+ mixed heavy oxides must be best in class.

The key share price determinant that one must watch is the Dy2O3 price. Until this rises a sufficient amount to show demand is returning NTU will struggle.