Our MMA Holding Is Looking Good, page-10

Good pick up. Not only did they have the met waiting there for a decade, they also did the met before doing drilling! This is how they only have 300m SOI after 2 decades of exploring, don't waste a dollar drilling something with no hope of being economic. I see VMS are continuing to throw holes down without any met at all. If a REE project is refractory (doesn't leach at moderate pH and temperature), then you need average grades of 1%+ or 10,000 ppm to be viable (their average is 1,450 ppm). Why not check met first on some scouting holes before doing 100+ holes and spending millions in drilling? And just because something is clay hosted, that means nothing with respect to the REE mineralogy. Look at VSR's clay met, <5% rare earth extractions using pH 1 yet it is clay hosted REE..

Fully support Rob's methodical approach, it ultimately saves a lot of dilution in the long run even if the news flow can sparse.