Ann: Further Outstanding Rare Earth Assays from Innouendy, page-23

Well there is no doubt that these grades are below what I would expect to be good unfortunately.

I do not believe there is current value in a large scale, lower grade REE mine. DM really has to produce the goods on the Ni and PGE side because in my own opinion I cannot see the REE's getting off the ground with the grades that are being shown.

I hold DM1, OD6 and VTM. Sharing my comparison OD6's grades are much higher. The thickness is also pretty much the same or better and they both share the same magnetic ratio and same heavy REE ratio. So making the assumption both have similar recovery rates OD is far superior on the REE side.

VTM again also has much higher grades with probably the same thickness as DM on average. The comparison that makes VTM far more attractive is the fact that is shares the same magnetic ratio to DM but has a much higher ratio of heavy REE's. VTM has a 30% basket ratio of REE's which is double OD6 and DM.

I will continue to hold DM on the basis I believe DM has the avenue of Ni and PGE's which could be fantastic in their own right but as it stands and only in my opinion these DM grades and basket quality is sub par compared to others I hold.

Sorry for the negative view but that is my observations and opinion.