After the MDA, page-83

Yes I certainly enjoyed the trip @ralli - a timely reminder for even the educated re niobium uses. The increase in annual consumption of all niobium products and applications - metals/powders/oxides/chems is incredible and will be clearly displayed with updates and presentations arriving soon from GBE management - far greater than any thing I would have imagined just 5 years ago but same said for lithium, graphite, reo's, etc. One offtake/partnership/finance announce post MDA release today will send GBE sp on a rapid rise - yet the tantalum which alone was going to cover all Kanyika production and operational costs in previous PFS can not be overlooked - neither the other bag of products - uranium etc that will add significantly to overall revenue. I recall GBE stating we will be the only producer of specialty oxides/chems outside of CBMM - there must be end users enquiring at the door - looking to diversify global supply which essentially is as it stands CBMM or NIOBEC - That is clearly about to change - 5% market share is significant and not disruptive - in fact not even on the scale of annual consumption increases such that CBMM are investing heavily to increase production significantly.

It's a bit apples and oranges however the REO supply control of China similar to that of niobium and CBMM control from Brazil is extraordinary in this day and age - a similar story to China that invested heavily for 30 years - so to did the CBMM family. Along came Lynas with REO supply and look at them today - GBE could emulate them - all be it on a smaller scale however a very valuable contribution - that we already hold an outstanding pyrochlore concentrate processing tech that at one stage was so cost reductive and chems reductive to process - GBE were to patent it and the proven ESG - low cost simple refinery processes is nothing to that of rare earths complicated - pollutive - expensive specialized tech although our future niobium ELECTRIC specific products will require special technology.

Back to MDA - wonder if Gov took up their 10% free carried interest - I suspect they did but not the optional 10% earn in.