Ann: Substantial REE's in First Drill Holes at Ethiopia on the EP, page-13

Haha.. yeah, results from out east in Area K. How about Tranche 5 Infill from the central deposit for a comp...

IXR is obviously much further ahead, defined by very extensive drilling over a large area. Recently released a new global resource of 540ppm TREO at 200ppm cut-off, 670ppm in the Central Deposit. At similar 350ppm cut that ITM used in Sig Results table, Makuutu global resource grades 762ppm TREO, vs today's avg 699ppm. No way around the fact ITM's 699ppm is high graded from ~35% of the material, raw assays for unbenfitiated material is close to 350ppm or whatever, around half IXR (with similar basket values let's assume).

Don;t get me wrong, I love the idea of using hydro cyclones to beneficiate ore and reduce capex and margins, just that grades look about half what they need to rise above the pack. As you say it's an exploration project. On my watch list because the location and geology looks right, just need to find the right laterite profile over the right rocks is the goal.