Certainly could be, but think that would be more likely a function of their hpa tech than the resources on the eyre peninsula. So your decision purely based on the archer ownership? In effect the archer shareholders (incl executives) hold most of ITM stock based on the way the company was structured - much more than 12% anyway.
Had assumed Cmx drilling would show similar results to ITM, but have not found material REEs from at/near surface yet, but they certainly could do with some more drilling.
Ann: Campoona Spherical Graphite Project Concentrate, page-41
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