Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

A successful drilling program at the La Paz Rare Earths Project delivered:• 33.1% increase in JORC 2012 compliant total resource tonnage from 128.2Mt to 170.6Mt• 117% increase in the indicated resource estimate from 16.2Mt to 35.2Mt• 20.9% increase in the inferred resource estimate from 112.0Mt to 135.4Mt• 4.4Mkg of Scandium Oxide (Sc2O3) included in the new resource estimate• Opportunity to further extend the maiden resource along strike and at depths where mineralisation from drilling remains open• Magnetic separation and liquid flotation testwork on surface rock samples from the La Paz resource produced:• Production of 1,744ppm TREE and 30ppm Scandium recovering 74.7% and 43.8% of respective mineralisation while reducing ore mass by 76%• 216% increase in TREE grade concentrated from 552ppm to 1,744ppm• 90% increase in Scandium grade concentrated from 16ppm to 30.4ppm• High-grade surface samples from the expanded Halleck Creek Rare Earth project of 3,349ppm average TREO in the Overton Mountain Area and 3,002ppm TREO in the Red Mountain Area• The highest grade observed from 2021 Halleck Creek project samples of 5,756ppm TREO, 552ppm High Rare Earth Oxide (HREO) and 1,433ppm Magnetic Mineral Oxide• The Company’s cash position as of 30 September was $2,940,926• The Company holds 6,000,448 COB shares worth A$1,950,146, at a COB closing price of A$0.325 on 30 September 2021• The Company also holds a five year A$3M Promissory Note (PN) with Cobalt Blue Holdings (COB)
What a great position to be in as US rare earth market wakes up IMO.