Ann: Trading Halt, page-31

I will walk to Makuutu and back if this strategic acquisition doesn’t relate to buying out our joint venture partner. We have arguably the best and largest ionic rare earth deposit held outside of China and therefore don’t need to acquire any external projects/tenements. We want to increase our ownership to 100% which we have always had first right/option to do so. Tim is one of the best managing directors I’ve come across at the small cap level and has spades of integrity. Best time to buy out your JV partner is in the early stages of a project I.e. before their share of the project becomes worth a fortune (which it will just like ours). We will issue them shares as consideration so we don’t have to part way with any cash and will be based on fair valuations for each party. This will help with future negotiations around offtake agreements too, as large organisations much prefer dealing with one direct party without the overhang of a JV. Looking like a very promising calendar 2022 for IXR, good luck to all