Ann: BEL: Disposal of Rare Earth Tenements vis Sale of Subsidiary, page-23

Pretty much a nothing burger. Looks like BEL were probably going to try another rinse and repeat job, spin out another useless company, doing nothing in the end except paying exorbitant director fees (we all know who the beneficiaries of that would have been). ASX obviously didn't like it so they had to get rid of the tenements. The quality of those tenements was reflected in the fact that it looks like they could barely give them away. Only company stupid enough to give them anything for it was, well you guessed it, another company controlled by said directors using other people's money.

Only positive is they paid SFA for them (but probably still too much). Just hope they don't double down on it and go blowing heaps of shareholders money trying to prove anything up. One thing I seemed to notice in my very short period investing in rare earths is that they really don't seem to be that rare after all (they're everywhere).