I watched nearly all of the presentation at this years RIU.AXL...

I watched nearly all of the presentation at this years RIU.

AXL was in my top 3 presentations and its a pretty compelling REE play.

• Nearly at cash backing with funding for the next 2 years
• Low cost auger drilling for near surface MRE
• Significant Gallium credits could make this project a unicorn on the cost curve
• Brazil is the best global mining justification IMHO with fast approvals, quality geology and low cost Energy/workers
• BOM have huge skin in the game 36% with Escrowed shares July 2026
• BOM have plenty of access to future funding through their networks

One thing I am not sure about is their in house technical abilities with REE, probably why they have engaged SRK with their MRE and ANSTO for the met work.

All up it looks like a decent opportunity and news flow will be solid for the next few quarters.