Ann: CODA North drilling results reinforce project potential, page-39

So looking through the report in a bit more depth, we have intercepts of 40-50m in places, along 2km+ (so far), NdPr% up to 30%, max TREO Inc Y2O3ppm of close to 7,500 (a lot of it over the typical 3,000), and this is just from CODA North (I believe Central and East are even more favourable targets with even easier access plus power in the area). That is massive! And most of it looks like a brownfield site just waiting to be dug up. It's poor farming land.




These results would ordinarily have been met with a vastly different response if REE prices hadn't been shot to pieces over the last few years.

We're seeing lithium bottoming. I am wondering if next off the grid are Rare Earths? It's a very similar scenario with the Chinese dictating terms globally, and controlling supply, the the US ain't having it anymore.

Once our metallurgical results are in (and I believe there's no issue there) our resource defined via a scoping study, things will change markedly here. That has to be what the market is waiting for.

Plus I get the feeling there are an awful lot of both trapped retail holders plus pip traders on the register who are both selling into any news whatsoever, regardless of the consequences.

We could do with a large cornerstone investor or two coming on board to firm up the registry and nullify most of the nonsense that's currently going on. It will gradually sort itself out over time, but the registry could do with a leg up. There are plenty of other REE plays in the area. I'm sure Eric has been doing a fair amount of networking on his recent travels. A JV would make sense, particularly if a shared processing plant is a possibility.

But first comes the drilling, the MET and a scoping study. And more results are incoming.