Ann: Thick Intervals of Rare Earths Uncovered at Comet, page-20

mileraFC wrote:

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The key components of a clay based rare earth deposit are:
1) deposit close to surface
2) to decent depth and thickness
3) reasonable grade
4) and probably most importantly they are ionic or the rare earths are capable of being leached/separated from the clays
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That's a very good list, but I think you have missed a fifth, which is location. REE's often involve extraction including somewhat 'unpleasant' radioactive substances including Thorium. That means that being in an isolated location where there are no people living is a huge advantage for PTR. That is also a problem for ITM who are based on the Eyre Peninsula which is a farming district (i.e. with farmers).

I think it is also clear that PTR already meets items 1 (close to surface) --- you couldn't get any closer to surface; and item 4 (ionic clays) - while metallurgy is still to be done, that's the whole advantage of being hosted in ionic clays. The focus of the last PTR announcement was on decent depth --- but mind you, you don't want too deep: the point is to keep it close to surface and cheap to extract, and hosted in clay (not in rock). As the drill results come in, I also think it seems likely that certain zones will see some more of the exceptional grades, and they will figure out which zones to further develop. I am particularly looking forwards to seeing the infill results next to the shared tenement boundary with MEU which returned the highest high-value magnetic REEs: more of that please!