ree companies evaluation report march 2011, page-4

Thanks sramzan,

Thanks for posting that info. Solid report. Particularly enjoyed the part when they said:

Overview: LYC is a rare earth element (REE) exploration company, poised to become a producer
during 2011. Association with the Mount Weld REE project started in Oct‟01 when Anaconda Nickel
sold its interest for ~$5m. Funding packages secured in FY08 were withdrawn during the GFC and led
to the suspension of construction in Feb‟09. A $450m equity raising in Nov‟09 enabled development to
restart. During this period to-date, prices for Mt Weld‟s RE oxide (REO) blend have climbed from
US$5/kg to US$70/kg.

Can someone clarify is this REE price a conservative one?