here it is!, page-12

Haven't had a chance to read the full PFS yet, but the ore reserve announcement looks very nice indeed. I'm not competent to judge the detail (I'm an IT geek, not a geologist), but the summary figures look good, and I have no reason to doubt the company in its assessment of the project - they've always erred on the side of caution before, and I can't imagine that they'd change that now.

The only major downside, and the only reason I can think of for it to not be funded now, is the question of who would buy the products - do we have buyers lined up, or no? If supply contracts are signed, a bank loan is pretty much inevitable, even if the MOU isn't converted. Of course, even without contracts for supply, it's entirely possible that a cornerstone investor might fund the mine on spec; the Nd/Pr component looks pretty compelling to me.

LTL has harped on about the cerium before, and the comments by Jack Lifton on the cerium supply side do add weight to that concern, but I don't see it changing the economics much. Overall? Balance of probability says it should be on and up from here, but the question of customers still hangs in the balance ... but I'm cautiously optimistic that I'll get back to break-even point (around 20 cents with the options for me) by the end of the year, likely before.

Sentiment is cautious, but I'm starting to think that we've turned a corner. I certainly hope so.