On initial drilling at Caralue doesn't look that much different from Makuutu with respect to grade, thickness, depth, presence near surface and breadth.
Obviously still awaiting met results on leachability but nearby drilling was shown to be ionic.
IXR (which looks a really good prospect) are obviously significantly more progressed but they also have a market cap 500%+ ITM's and:
- they only own approx half of the project against 100% for ITM - the project is in Africa vs Australia - one of the primary reasons for a significant increase in interest in rare earths is the political risk of where these rare earths are being produced - ITM also has an advanced graphite project
Not suggesting ITM is anywhere near as advanced as IXR, but they do have some similarities and there are advantages if a few things develop the right way. Obviously requires a lot more drilling, but if met results are favorable (which are imminent) will be interesting I think.
Better chance than most trying to operate in this space in Australia I think. Look forward to your contribution once we have the final drill results at Caralue and the met results as I think that will be more useful.
ITM Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
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