Rob has always been one to underpromise and overdeliver and timelines tend to be met which I appreciate. Initial MRE slower than I anticipated but it will be robust and underpinned by a good understanding of the metallurgy/economics.
Key catalysts, and as mentioned by others:
1. Step out drilling - the resource is simple enough analysts can estimate the MRE so I don't see the official MRE moving the needle significantly
2. Further met testing at pH 3+ and scaled up to columns
3. Any hint of government support (feds, state, USA) or interest from offtakers (Lynas or Iluka being front runners IMO but could be interest from OEMs if they pursue in-house REO separation to oxides)
A waiting game for sure, but we are doing well at the moment compared to the Brazilian clays. Fingers crossed there is some uptick in REO prices through the second half of the year.
Rob has always been one to underpromise and overdeliver and...
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