Ann: Exploration Target defined at Sandy Mitchell Project, page-9

Valid question - but easily answered by reading p.1 of the ann. where they say -

High magnetic REO (Nd, Pr, Dy, Tb) element proportion of 24% of the TREO basket, positioning SandyMitchell as one of Australia’s most enriched MREO deposits.


These metals are ones used in making REE permanent magnets. Used in EVs and wind turbines etc. They are on everyones critical elements list.

IMO they alone would support the marketing of the product.

It will be interesting to see what new met detail emerges at the next level - will there be space for local extraction of those metals - even perhaps for Australian permanent Rare Earth magnet production.

As @jogo states - there is enough for a lifetimes production, so the mineralised basement is of little immediate importance - except if maybe those magnetic REOs are localised in the basement. But I agree with his assessment, not mainstream atm.

At the risk of overstating the case - remember everyone this is not hard rock mining of REOs nor is it ionic clay mining and processing where huge volumes of spent clay has to be stabilised and returned to the earth - just sand returned to where it always was, less (say) one percent taken away - and pasture revitalised for grazing as before.