Shenghe has a market cap of A$7.77 billion, Iluka has a market...

Shenghe has a market cap of A$7.77 billion, Iluka has a market cap of $3.79b, Neo Performance Materials has market cap of $700M why would any of these companies choose to cooperate with RareX? Specifically why would they set up a 50% trading JV and give REE half the equity? What does REE bring to the table in terms of commercial business connections or in-depth industry experience? Has there been any update with Shenghe or CREC, these two announcements were almost 12 months ago now which makes management look embarrassing to shareholders. The real money waiting for metallurgy, environmental permit, and other test results, its good they drilling out resource but could focus on other areas of Cummins Range development.

In my opinion REE should focus on delivering tangible strategies:

1. Make agreements with end user separation and smelter customers (not metal traders)
2. Form relationships with strategic partners such as supply chain incumbents (EPCM or OEM)
3. Expanding its project portfolio by acquiring a HREE project to compliment its LREE project (access to full REE suite)
4. Completely divest its KCC and Cosmos interest to focus on Cummins Range and REE corporate (consolidation and priority)

They need real hands on business development expertise from people who have worked in the industry and have business connections to adance the Cummins Range Project and ability to bring in partners.