Ann: High-Grade REE Discovery, page-53

I am stating the obvious here but you clearly know nothing about clay REE's which is dangerous because the topic is so complex.

How have you determined the grade is economic? Disclosed PPM determines whether it is economic or not? Here is a very quick run through to bring you back to earth and hopefully save you some money.

- Whether the grade is economic or not is tied in with the basket value of the clay combined with the recovery levels and costs inna nut shell .. For example VTM is economic at 400ppm because the basket value is high and the recoveries are decent. OD6 the minimum economic grade is 1000ppm.

The basket value comprises of LREE and HREE. Most LREE have next to any value apart from the magnet Nd/Pr. The HREE such as Terbrium and Dy command a much higher value.

Every single clay project has a different basket value. Every single project has different levels of extraction and extraction costs.

Additionally other factors such as impurities come in to it which is mainly aluminium and iron. Both have negative effects on extraction. lastly clay deposits typically contain radioactive products which are expensive to dispose and have poor environmental credentials.

All SGQ has done is announce some average grades. With average basket value. No mention of all the other key factors.

Do yourself a favour and do some research. It takes a while to wrap your head around clay lee's to seperate the wheat from the chaff.

In my opinion tread wary. I would not put 1 cent in SGQ based on what has been released.