Ann: Initial Assays Confirm High Grade Primary REE and Niobium, page-12

The answer to all of your questions is the resource at Cummins Range.

I've been doing a lot of reading about the history of RE deposits in AU, particularly with a focus on where they are now.

Of all the known, permitted projects in AU hunting for RE right now, particularly carbonatites, I can say, with some level of confidence, that Cummins Range is likely to be the next most significant project after Mt Weld. A distant second, but second.

Good jurisdiction. Mining licence being progressed. Likely "compact" open mine pit. Good NdPr. Plus Niobium. Scandium. Phospate. Low Th. Low U. ESG. Resource around 50Mt (?) at (towards) 2% (???) TREO. Potentially low CAPEX. $ from Govt. Easy access to partners in AU. Access to partners worldwide.

When you put all this likely combination together and compare it to every other project, there is a lot going for it. We're not fully fleshed out quite yet, but that's where we're heading towards at the moment.

The company explictly says "intends to leverage this base" (ESG document) - referring to using Cummins Range to progress downstream stuff.

Shenghe, Neo and Iluka will talk to REE because carbonatites are well understood by the big players and they want in on Cummins Range. That's why.

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On a completely seperate note, if REE is ever taken over, look out for WES as a possible suitor.