Introducing RareX’s major new system near Tropicana, Sunrise Dam and Mt Weld., page-5

Some questions and some answers to the best of my understanding. Not advice and I might be wrong.

What is it?
The large magnetic anomaly. To the best of my lay research, it's most likely either / or a carbonatite RE system and/or gold. Less likely to be nickel / PGE. Could be some sort of other base metals / VMS thing. I think I've covered everything. I didn't come across any mentions of lithium, unfortunately.

What was the plan?
I suspect the original plan might have been that Cummins would hit lots and lots of RE and then the SP would support ongoing raises to fund drilling, which all needs to be deep. The tenement also took a long time to grant. This tenement could have been influential on why the Cosmos spin out might have come to be. But here we are today.

The reward?
It's very big and very distinctive. Geologically fascinating. Geophysically, very pump. It's a very exciting exploration proposition and about as prospective as you will get anywhere. It's potentially one of the continent's most significant unexplored finds.

For those who have followed my posts for some time, this tenement application has kept my interest in the company going.

The risk?
It's deep or the best current understanding is that it's likely deep. Not insurmountable but it's mostly diamond drilling and a lot of it - the theoretical resource sits under a thick layer of sedimentary rock. There are an increasing number of companies drilling deeper to explore. But it takes time. And $. Would be straight to underground mining, if it ever got to that point.

Why wasn't it explored before?
It's been held by mostly smaller companies, all of whom eventually gave it up because of the likely depth and therefore cost to drill.

What is the plan now?
Dunno. It would be great for REE to keep this on as 100% but there's a lot of drilling, deep, which someone needs to pay for. Maybe the company can start on it and then go from there. Perhaps there's a decent partner about the place and REE can keep most of it.