Few new bits for me, bolded sections comments of new/prevailing importance.
The Company is also considering further opportunities to expedite increasing the resource
base, which will add considerable value to the Feasibility Study, and to the Company.
In May we completed the Phase 3 drill program, which included 67 rotary air blast (RAB) drill holes
across all five of the Makuutu tenements (ASX Announcement 1 April 2021). The drill assays from
this program, pending, are expected to provide a positive indication of areas where additional
resource extension potential exists across the Project. Drilling at the highly prospective tenement EL
00147 encountered numerous thick clay intervals, so the pending assay results are eagerly
anticipated to confirm the presence of clay hosted rare earth element (REE) mineralisation within the
tenements. Subject to positive assay results from this Phase 3 RAB campaign, the Company will
evaluate the likely sequencing of additional exploration drilling targets.
Confirmed that the clay overlay is present, which is step 1, now the REO results is next.
So host geology similar which confirm the basin presence.
Work has been steady on the ESIA since activity formally commenced in March post the receipt of the approved Terms of Reference from the National Environmental Management Authority (NEMA) in Uganda earlier this year (ASX announcement 31 March 2021). Specific field work activity including the baseline data collection is nearing completion and the Company is working towards lodging a draft with NEMA in Q4 2021.
Corporately, the Company has been engaging with several investor groups, and it is evident there is very strong investor interest internationally driven largely by growing awareness of the Makuutu Rare Earths Project, and its well-balanced basket, dominated by individual metals classified as critical or strategic by a growing list of countries. Given that several investment houses have shown interest in IonicRE we have initiated a due diligence process to review and evaluate alternative investment markets, such as a dual stock market listing on alternative exchanges where we see strong interest in the Makuutu Rare Earths Project and its unique offering. The Makuutu REE opportunity has resonated strongly with European, UK and US investors looking to get exposure to the critical and heavy REE dominant basket that the Project provides, which distinctly differentiates Makuutu compared to many other REE investment opportunities globally.
below supports my previous opinion about HREO separation capacity outside china
IonicRE with a path to expedite Makuutu with the support of one of the largest, if not the largest, global ionic adsorption clay operator and refiner. China Rare Earths Jiangsu has four plants in production, and is currently processing products from IAC mines, and as such the opportunity to work with the Chinalco subsidiary provides a lower risk with respect to having an operational demand already in place for Makuutu product when we commence operations in 2024. Realistically, it must be understood that as it stands today, all heavy REE separation capacity projected to be in operation by 2024 exists in China, with minor capacity in Vietnam. As such, IonicRE’s decision to engage directly with China Rare Earths Jiangsu makes strategic sense and forms part of the overall strategy for the development of Makuutu.
IonicRE can also confirm that we continue to progress previously initiated discussions with numerous other global strategic partner groups, with aspirations to acquire the Makuutu product basket and secure long-term stable supply.
Excellent summary and update i thought, old investors need remember that not everyone (rightfully or wrongfully) reads all companies previously announcements thoroughly and thus updates like these can provide a refresh/rehash of existing info in a new concise form. There were a few bit and pieces which should delineate the strategy and vision moving forwad.
SF2TH
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