The problem that we have with Makuutu is we can process into a MREC in Uganda but the infrastructure according to Tim is not there to build a plant to produce into Oxide, so we can mine RE but it still needs to go to China for final processing, unless we send it to our Brazilian joint venture to produce oxide but that is still years and years away.
When I pushed Tim on Makuutu he made it clear the best Makuutu can do is MREC and not the more valuable end product individual Oxide, my feeling was that they were done with Makuutu, but stranger things have happened.
IXR Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
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