I think the resource should be fairly straightforward given how mineral sands form and the drilling already completed by Illuka and VHM near us. Don't particularly care about the size of the resource since there is plenty around, that is clear.
They are just getting A resource so that everything is in place for the regulators so that we can dig a small portion out of the ground.
The real prize is if they can actually build that pilot plant for 1.5m, get the feed into it and show that it can cost effectively separate REE with no radioactivity concerns in the waste as stated. Then I suspect VHM will come knocking. If they can do this prior to needing a CR then current shareholders will do very well. I'm a bit sceptical that it's achievable without a CR.
My current exposure here for clarity is through medallion.
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