Ann: Drilling to Recommence at Redlings REE Project, page-57

Drilling started 2 July.

This is shallow with prior results up to 1.8%.

Within proximity to Kalgoorlie and Lynas' Mt Weld, good results will force participants to take notice and should result in a significant rerate. A JV or sale likely.

With a current EV of $2M (shell value) it won't be hard for the share price to run up significantly.

Some basic analysis and benchmarking - similar projects alone with half decent results have their company's Market Cap of $40M+ (MQR have 9 other projects - some good).

MQR with a Market Cap of $40M sees a share price of about 20c. So even if this is super optimisitic, half of this at 10c still presents enormous pot odds potential. A rapid rerate is not out of the question.

I've looked at historical results for Redlings and it supports the hits they got in this annoncement. There is something there, and it is shallow and wide.