Ann: ACQUISITION OF TRANSFORMATIONAL NIOBIUM, REE & LI PORTFOLIO, page-306

@Frogkey, I don't think they are explicitly targeting PGMs here at this point in time but you make an interesting point. i admit when this announcement came out I was at work at the time and only quickly skimmed it, and only really took notice of the Iron, Titanium, Niobium and Tantalum results. It is interesting considering the higher elevation of Platinum specifically compared to the other PGMs, but I know next to nothing about PGM mineralogy and chemistry so can't comment on it.

@Gymjunky, Platinum is used in Catalytic Converters correct however it would not be included in the PREO results reported. Platinum is part of the PGM group of elements - Ruthenium, Rhodium, Iridium, Osmium, Palladium and Platinum. PREO in this context refers to Partial Rare Earth Oxides, as the samples have been only tested for a part of the total Rare Earth Element suite - In this case they have tested for 9 of the 17 total Rare Earth Elements. Our samples were tested for the more useful and significant part of the REE suite - Cerium, Lanthanum, Yttrium, Europium, Gadolinium, Gallium, Neodymium, Praseodymium and Ytterbium. Depending on which school of thought you use to classify REEs, some of these elements are technically Lanthanides and not REEs.

To the best of my memory Gallium (Ga2O3) mentioned in the announcement as part of the PREO calculation is not a REE. I can't give a reason for it's inclusion but I am sure that there must be a reason for it being part of the calculation.

Anyway, point being is that these initial samples having only being tested for a portion of the REE group, means as stated in the announcement "Consequently, in all cases, the actual tenor is likely higher." Meaning that if resampled for the whole 17 REEs, the % reported would assumedly be higher...But that would include less useful elements, so IMO having a high % reported of the more significant and desired elements is good enough for me.

In respect to the REEs in particular addressing the Permanent Magnet market, the elements we are most interested in are Neodymium and Praseodymium, Terbium and Dysprosium - Its interesting that the Terbium and Dysprosium aren't included in the PREO analysis, The Terbium is there - Tb4O7, in small amounts but Dysprosium doesn't appear to have been measured at all and well may not be present.

At any rate, in the most recent announcement it states:
"The selected samples have returned a high grade for both Niobium and Tantalum plus other elevatedREE elements of note. Assays have now been sent to another lab so that a full suite analysis on thesample can be contacted, which will enable the company to ascertain and thereafter announce theTREO percentage as well as potentially other elements contained within the samples." Another point is that once again Gallium is included in the 9 elements tested - in the range of 0.11% to 0.26% - there must be a reason for testing this and I have no idea if this is a significant result or not.

It will be exciting to see full element analysis on those 4 samples to see what we have. I doubt the 3 samples reported in this announcement will be resampled for the full element suite.

At any rate its exciting times for SUM shareholders. Looking forward to getting further updates.
GLTAH old and new.
Regards, OP.