I'm merely an enthusiastic low-cap commodity investor. So, it's advisable to Do Your Own Research (DYOR) and trust no one on HC to provide reliable information including from me.
Every rare earths’ project has issues and will need to stand up on it own. Yet, there appears to be very little to choose from exChina globally that has a chance to succeed without being propped up by Government incentives. So, you have to ask yourself some fundamental questions about who you will back and stay backing for at least five years or ten years plus. I understand that my style of investing isn't for everyone.
In my opinion, the more you can extract Nr Pr Tb Dy all at the same time (ie, hard rock has to choose and favour) the more economic your project will be. Therefore, they can't seem to match the inevitability of low-capital cost ionic clay-hosted rare earths projects, which has no radio-active waste streams, when they eventually work out their resource and come on line.
Maybe, the share price jump is the realisation that AR3 have 'cracked' their resource numbers. This bodes well for their mining economics going forward. As stated in the annoucement, Figure 2's caption, second sentence says it all, as highlighted below:
