"IonicRE can also confirm that we continue to progress...

"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. As part of these discussions, the Company in exploring opportunities to extract greater value from our uniquely balanced critical and heavy REE basket, along with scandium, which the Project will produce at low costs with ability to readily scale production to meet global growth demand.

With respect to the timing of any offtake agreements, there remains many additional steps, including product testwork, before any agreements can be finalised. Primarily, the questions of downstream rare earth separation and refining needs to be resolved, and as part of discussions with some of the strategic partners, IonicRE is working through a number of options."

Have just been doing some re-reading and maybe starting to connect a few dots.

Highlighted a few different things in my previous post but worth reading these in collaboration with the above. If people have aspirations to acquire our product, and as part of these discussions

"Opportunities to extract greater value" - Well it's a 92% MREC how does one get greater value. The only method is downstream either by separation or getting involved in the magnet making.

Then with respect to offtakes the questions are relating to downstream and refining to be resolved - IXR working through options.

To me, it's starting to sounds like they're investigation a downstream separation option. Then connect the Kelley appointment - obviously US focused. The comments are EU, UK, US interest. The comment about dual listing where appropriate. etc etc.

If downstream is being pursued, then the US would likely be at the forefront for location. Why bring on someone with US military negotiation and US diplomat connections.

Would also stand to reason as the logical choice so as the de-couple from China entirely. Though logically if feasibility on a sep facility in US or anywhere was to proceed this - i think 2024 would be around when it could logically be constructed. Therefore, it would still be likely that an offtake for 1-3 or 1-5y with chinalco with some conditions of (up to) x amount of REO would be logical. Essentially you guarantee some product can be sold. However if the sep facility is resolved then we (IXR) could start to entertain offtakes withour the involvement of chinese based separation.

Starting to look like they're keeping options open - but worth re-reading the recent announcements thinking of a angle whereby IXR plans to build/jv in their own separation facility.

Above is just my thoughts about what strategy would make sense, even just investigating downstream options outside china would bode well as a marketing ploy - optimally it goes ahead.

SF2TH