Ann: Environmental Permitting Update for Caldeira REE Project, page-17

I agree with your perceptionthat people should accumulate in these periods where SP lags momentum andtrades sideways.
Also, like to share the thoughts of another Aussie company exploring in Braziland to ease the mind of those shareholders that maybe a bit concern of apossible backlash from either the State or Federal governments.

“ATTRACTIVE BUSINESS ENVIRONMENT

Brazil has a developed and sophisticated mining industry, and is amongst the leading exporters of iron ore, tin, bauxite, manganese, copper, gold, rare earth and lithium.

The country investment risk is low and business environment as secure, based on: § Mining is recognised as a key economic industry in Brazil and the Stateof Minas Gerais.

§ Progressive mining policies, seekinginvestment, encouraging explorers and new developments, § Mining investment free of government mandated ownership, § Low sovereign risk and government interference, § Attractive cost base and sophisticated support network for the miningindustry § High level of exploration/mining technicalskills and expertise in country”