AR3 is soaring after their recent resource upgrade. Perhaps a...

AR3 is soaring after their recent resource upgrade. Perhaps a template for GRL to follow(?) Suddenly REEs are in the news again.

If GRL can come out with an impressive JORC (2012) this month, the timing might just be perfect! We might have what the market is looking for at exactly the right time.

GRL has previously stated that it intends to lift the Narraburra cut-off grade for the JORC (2012). This might limit the increase in the size of the deposit, but it will mean higher overall grades. Together with the use of more modern resource estimation techniques, this should mean significantly increased grades at the project.

In the past, Jeneta has talked about how the previous owners of Narraburra had diluted the projects grades by using sub-optimal methodology to measure the resource; she suggested that using better suited up-to-date techniques would allow GRL to substantially increase grades for the maiden JORC (2012).

Based on previous information released by GRL, I am expecting a modest increase in the size of the deposit at Narraburra (maybe ~80M tonnes), but a substantial increase in the grades for the maiden JORC (2012). Could we see a doubling (or even a tripling) of the current grades? Could we end up with something comparable to AR3's project (perhaps smaller in size but with similar grades and in a more strategic location with better access to infrastructure)? Let's wait and see.