General Chat / Discussion, page-9135

Interesting to read and watch the chat around VMM.

VMM is in a T/Halt pending the release of its Maiden Resource Estimate.
We know already that the REE grades of VMM look good, and appear to be much higher grades than IXR.
At this point VMM has twice the mkt cap of IXR.

But IXR is way, way, way ahead of VMM in terms of getting product out of the ground, way ahead in terms of producing product, way ahead in terms of Offtake parties, and way ahead in terms of sourcing funding.

IXR has a direct shareholding in VMM (5% ??)

Of course IXR has already Ionic Tech producing REE product from recycled magnets and swarf - it is now an actual business, and is now putting together commercial partnerships to commercialise that side of the business.

IXR now has a J/V with VMM to:
1. develop a recycling operation in Brazil
2. commercialise recycling operations globally
3. use Ionic Tech processes to refine MREC product produced by VMM
4. use Ionic Tech processes to refine MREC product from 3rd Parties.

My point is that whatever the positives eventuate with VMM, should rightly be reflected in IXR and its share price - but its not recognised by the mkt.

If and when VMM comes out with strong maiden resource numbers, IXR will benefit from that resource by default. But it probably will be lost to the broader mkt.

I think VMM says there is no agreement re Offtake of product from the J/V. I read that as the JV will process the MREC produced by VMM, but VMM can market that refined product as it wishes. So can IXR mkt its share.
But IXR benefits from the processing fees and tolling via the JV.
So high grades from VMM resources put thru the JV will benefit IXR by default.
Also IXR benefits from VMM's recycling operations.
Also IXR benefits via its direct s/h in VMM.