Ann: Substantial REE's in First Drill Holes at Ethiopia on the EP, page-14

I don't doubt that IXR is significantly ahead, was more focused on your narrative that ITM's project was going nowhere, when it is still early days.

It seems the REE's are widespread through the region, the question is whether the grades/leachability are there. Only very early in the process of establishing that, only a few square km's to date have been tested in various locations covering a big area. We are about to see a lot more results from both ITM and CMX. At least you wait to see what this produces before making such definitive statements.

ITM does have some advantages relative to IXR. It 100% owns it's projects and is in Australia near all major infrastructure rather than in Africa and i think only 50% owned.

Not having a go at IXR, I think it's a very promising project and certainly appreciate your input, but question being so definitive at this early stage.