Ann: Investor Presentation - RIU Explorers Conference 2024, page-21

AR in his recent presentaion made an off the cuff comment that in the 46sq km area that they are currently looking at, there could be 1.5 to 2bn tonnes of source material.

Using 1.5bn of source material and assuming an average extraction grade of only 1000pm (lets be conservative), results in 1.5m tonnes of rare earth oxide.

Current pricing for the stuff that we have is a minimum of $100 per kg - thats per KGs not tones. And Terbium pricing is currently over $1,000 per KG.

1.5m tonnes of rare earth oxide is equivalent to 1.5bn kgs. Multiple that by say $100 per kg gets a ginormous number.

I know that there will be significant costs and there will be nowhere near a 100% extraction rate, but still the value of the stuff in the ground could be astronomical.

Also remember the 46sq km that AR refers to is only a small part of the pegged area. And no account is taken of the rare earths that presumably exist in the hard rock below the are earth infested clay.

Can someone more knowledgeable that me comment. Seems to good to be true!