This seems crazy.
The company has done two capital raises in the last 6 months and now is spending over 20% of their capital for a 12% stake in a company that helps develops refineries. All of this is before they have actually proved the economic feasibility behind any of their deposits.
I am not sure what good, access to a potential future refinery is if you don't have an economic resource. The timeline for this just doesn't stack up.
Ann: RareX purchases option to acquire interest in CREC, page-12
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