Ann: Quarterly Activities Report, page-20

The short term looks particularly promising with so many potential catalysts for a re-rating past $3.20.

At the end of today’s briefing Amanda sounded very upbeat and spoke about 2020 being a very exciting year and expects that expensive champagne will be needed. That’s as bullish as I think I have ever heard Amanda speaking in public.

Here’s the short term (6 months) catalysts that I’m very confident on:

• Licence renewal without any further conditions (March 3)
• Regulatory approval for a lift in lanthanide production (March 3)
• 3rd quarter results with a big lift in production and sales (Late April 2020)
• Judicial review of license renewal dismissed (April 2020)
• Announcement of US Government grant to support Blueline JV (August 2020)

Here’s what I’m hopeful for:

• Steady increase in market prices

Here’s what I’m wishing for:

• Malaysian Cabinet reshuffle with Mohd Redzuan Yusof taking responsibility for the environment portfolio
• backflip by Malaysian Government on PDF and instead accepting condisoil
• Australian Government announcement of a grant program to support critical minerals