Ann: First Pass Metallurgical Testwork Delivers 830% REE Upgrade, page-9

Ahh no.

I was a holder of this company under it's former name VMS venture minerals and former interest as early as 2019. This back when they were mucking around with the tiny iron ore mine in tassie.

Post #:40092358



How long have you known about the company.

Naturally i keep stocks i hold on watchlist and thus read news releases. Over the last 4-5 years i've been an active commenter on REO. Probably been asked an opinion on over 50-60 of them - so this isn't exactly unusual. I am unsure about what down-ramping you're referring to - but perhaps best to discuss the met results and explain technically and economically why they are good.

I note they didn't even include what the TREO make up was in the head grade or post beneficiation. It would be prudent to know what REO you're recovering in that 50% from a reporting perspective. It might be all La and Ce.

I also provided another opinion back in Feb 2024 Post #:72329224 when i was tagged on the company to give an opinion. Even suggesting as such that if it were ionic then i'd be an investor and that i'd watch the company for further met work results. This is it.

"I am aligned to your opinion.

it is worth noting that some others RDM (for which I cannot still get my head around it's met work and how REO are leaching from granites at ph1) that if there is a very unique metallurgical properties it may be more interesting than others.

I do however agree that if similar (and more likely than not) to the other WA REO in clay it will have similar met properties as them. that being that the reo exist mostly in physical or colloidal bonds only broken (leached) at highly acidic leach. In fact i thought i recall vms having such previous met work which validated as such? perhaps a different tenement. I have 65 wathlisted companies it's becoming hard to remember them all off hand.

If they were to be ionic the upside is enormous but do agree based on chrondite plot and geographical nearology to other WA plays proven to not be ionic that the chances are low.

For those still learning the ways of the world in this space. At current pricing, ionic clay projects ~1500ppm are where the economic cut-off. that means ph2-4 with a large portion recovered at ph4 and minor acid dose.

non ionic need pH0-1 which given the logarhythmic nature is 1000 times more acidic. more acid more cost less profit.

To my knowledge no non ionic clay project currently in production/construction globally. closest projects are mineral/monazite sands getting a REO as by-product.

If ionic i'll be an investor. if not ionic (barring some unique geological met properties -((currently rdm the only weird outlier i have seen so 1/50 odd)) then unlikely economic in my honest opinion.

Fantastic result for shareholders either way. furthermore no reason the market may continue to see upside on RvR. i would await or want to see the leach test with ammonium sulphate or sodium chloride at pH. if ionic leaches in 30mins or so. test costs $500 from a lab.

MRD discovered reo 2years ago and stated same thing there as i have across 30-40 reo clay project. holders there are still waiting for the test i think.

i would judge Management credibility to expedite this test for ph4 and ph2. This can be done very quick and very cheap. Will tell you quickly where this sits in the scheme of things.

I will watch with earnest. best of luck all hopefully orice keeps rising and the met test (done quickly) is positive.

my status will change very quickly if so, but so will the share price. Likely the opposite if not favourable.

Thank you for the tag and hopefully has met the intent."

You don't have to like what i say but unless we're going to discuss the outcome technically then i will not post further - but felt i should articulate that i am not new to this company or providing comments on it. Whatever axe you have to grind with other posters - sharpen it elsewhere.

SF2TH