Ann: Half Yearly Report and Accounts, page-5

Hi dingodoggy,

I agree, the report doesn’t seem to give us much to go on. For me, what’s enticing is the prospect of a significant find of REE, including Nd in the rims of the Carbonatites.
The last drill program was exciting because we had mineralised outcropping with extremely high percentage of Neodymium, similar or higher than Hastings. But, we didn’t have the significant magnetics coming near surface that LI-01 and LI-03 have. The share price shot up pre-results. But sadly the thicknesses were narrow and the grade was lower than were hoped for.

Now, for me, we’re coming up to the exciting bit. We have some different data that gives hope of covering the missing variables from the last. We have magnetics showing the Carbonatite pushing nearly to surface and the past drilling shows what’s coming up from these sources is
miralised (it doesn’t need to be their dykes, like DRE have found). But, we don’t have the outcropping to give us an idea of what is there.

The valuable mineralisation of REE come from late-stage pulses of the Carbonatite source. To me, common sense is showing that that is what’s happening in LI-03 and LI-01. Surely this was the same case with the mineralisation coming from LI-05 which we found in the last drill program. This time we have the magnetics giving confidence that it’s larger.

It’s a frustrating time for the markets and I’m not too impressed by what could be dodgy mgmt, but I’m here for the geology.