Ann: Acquisition of Potential World Class Ionic Clay REE Project, page-174

All good fun, I am just returning the treatment I received on IXR a couple of years ago.

Now back to the most serious issue contained in todays Announcement. Importantly the consumption rate of 160kg/ton for Ammonium Sulphate. That is fairly high and hopefully they can reclaim and reuse a fair bit of it. At US$100 /ton it will be a substantial contributor to costs in the OPEX ie around US$16/t of Ore processed ~ luckily the Grade of the deposit and indicated recoveries are high enough to provide a revenue of US$40/ton mined and if the grades were less than 500ppm then I doubt if it would even be viable ! ?

Now the second bit of information that stood out in that Announcement was the exceptionally fast leach time ! which suggests to me that a more efficient processing route ie Tank Leaching rather than Pad Leaching may be possible ~ if so a much cleaner and more controllable processing operation can be achieved.