Ann: High-Grade Rare Earth MRE at Circle Valley, page-15

There is no Sp response Mr Siddle as there is no gain for MEK!

What holders need to understand (and management do!!!!!!), is that there is nothing to be gained from REE in the current environment.

We can have enormous reserves in the ground, but REE price is controlled by China!!!!!! Our concentrate, if produced, is uneconomical in terms of price received. OR if even wanted!

Firstly, concentrate is not something by itself that is primary. It needs mid stream and down stream processing.

The WESTERN WORLD does not do this !!!!!

This in the main is done by China. So China controls the price of concentrate!!!!!

PLEASE look at VML. It is a pure REE play that has massive mines, production established, manufacturing Tonnes of REE concentrates and can't sell them as it is uneconomical. AND, they are supported by the Canadian Gov't!. Their share price is now 5 plus years lows despite having tonnes of product and mines. Because there is no one to do the down stream processing of concentrate!!!!

LYC have a processing plant in Malaysia but still send product to China. Look at their share price despite all the REE hype!!!!

For those who are saying sell the MEK REE separately, who would buy???? Who? In this environment no one needs to fork out huge money to buy a REE resource when there is no midstream processing available except China. AND, they have to find money to set up a production facility first for something that is uneconomical!!!!!

Sooooo if MEK then decide to Cap raise to set up their own REE production facility, what value to share holders. Negative!

Remember, VML has mines, resources, production facilities and product, with Gov't support, and it is now on maintenance at 5 plus year Sp lows.

MEK has Gold! Gold has a global demand and price.

I'm worried that if MEK does not focus on Gold, and target all monies on becoming a gold producer, then shareholder value is stuffed.