lack of understand , page-42

At some point producers would be using acid - hard to believe, but probably more than any posters here. Would you get separation of REE's from any ore without it? I doubt it. Plenty of literature based around nitric, sulphuric of hydrochloric technologies. PEK are proposing simple crush and leach to concentrate the high grade oxide whereas other on site concentration methodologies incorporate more complex mechanical, electrical and chemical processes.

I have long harped on that I think Xstrata/Glencore are the most likely of the traditional mining houses to move into the REE space. Here they are - scoping technologies in Canada using Avalon's ore:

http://www.xstrataprocesssupport.com/EN/Documents/PDAC%20REE%20Marketing%20Brochure_V7b.pdf

Avalon's ore has a reasonable basket price but lowish grade - like PEK, plenty of it though, 300Mt @ 1.4%. ~4Mt TREO. At current prices Peak and Avalon's ore are worth about the same amount per ton in ground. But the Peak high grade is worth twice as much. Due to a decent suite of elements that should hold value (including Y2O3 at 7%, (Ngualla - 0.5%)), Avalon is to be taken seriously, IMO. Avalon holders are probably whinging about being undervalued too. Perhaps if Xstrata uncover a cost effective production pathway, Avalon holders will be rewarded.

Avalon's numbers: MC - $270m. Cash - $60m. Current SP - $2.80. Bubble SP (2011) - $10.10. Past 6 months, PEK SP outperforms AVL by ~ 20%.