Ann: Interim Phase 2 Metallurgy Green Lights Sybella REO, page-16

I think the question we have to ask ourselves is, what do the big boys Gina and Twiggy think of this project? They will decide what happens here short-medium term. Both have significant positions in most of the major rare earth projects - Gina already with >5% positions in LYC, ARU, MP and BRE, whilst Twiggy bet $150m on HAS (and would be regretting that foray now).

Both are staunch Australians so would prefer supporting a REE project locally. Both have iron ore backgrounds as their bread and butter - huge tonnage open pits, low strip ratios, coarse crushing (sound familiar?).

Still a ways to go to get their attention, and that starts with a MRE off the back of the current Phase 2 drilling program. But the depth of technical detail being shared with the market by RDM should go a long way to allowing the big players and their analysts to do their due diligence (and build their own economic models!).

Ok enough speculating for now.