Ann: ACQUISITION OF HIGH-GRADE ARAXA NIOBIUM PROJECT, page-135

As you are now in love with the PEA, which is only a PEA and not a feasibility study, it's appropriate to address the elephant in the room from the PEA, being the Tailings Dam...

PEA pg 25
"AMS is unaware of any environmental liabilities to which the Araxá Project is subject. However, of particular note is that the current measured and indicated mineral resource is located at the base of a tailings dam wall. "

PEA pg 65
"The location of the old CBMM tailings dam, covering a part of the Mineral Resources, will have an effect on the ability to mine the project. This effect may influence safety and also have a cost implication for the Araxá Project. These effects have not been addressed in any manner or form and will need to be included as part of the modifying factors for Mineral Resource to Mineral Reserve conversion. "