47% cerium; 47% wasted capex for no profit, page-9

"With so many deposits out there, I would think that some of the chemistry could be matched and these potentially economical deposits become very economic deposits for the right producer, hopefully using similar refining techniques."

With regards to the above statement, each an every deposit is unique its in own right and so far all the deposits (in Australia) not one we have come across is similar and so all technology and the chemical processes needs to developed from the ground up.

I know this for a fact because Lynas has discussed with other REE explorer companies before, into licensing its proprietary technology to them for a monthly fee. The Ree explorer wins because they get to safe time/short cut research time and Lynas get a royalty stream. Unfortunately this business deal fell through because the chemical used fro Mount Weld only suit Mount Weld only. I can confidently say Hypothetically even if a explorer found a deposit a few hundred kilometers away from Mount Weld, the chemistry would still not match.

With regards to PEK no comment. Can't discuss PEK.