Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

Another load of BS

Its illogical in my mind to spend what little funds the company has to trial the metallurgical & leach testing before they spend the money to have all the samples they extracted in 2019/20 assayed

If the assays show the REE aren't there or not in sufficient grades, then why waste money carrying out the tests they claim to currently be doing?

It would seem to me to be entirely logical to know that thecompany actually has the REE (from the assay results) before spending money onfiguring out how to extract those REE if they are in fact there, because if theassays prove to be inconclusive, then the company has wasted all its fundschasing a dream because there are no REE to extract

Before you grow crops, you need water

In this case before you extract REE, you need to know the REEare in fact present & are available to be mined. Then you spend the moneyworking out the most efficient way to extract the REE

It would be interesting to know where the company extracted thesamples they are using to test the metallurgy & leach capabilities becauseif they are proving successful then REE are being extracted do the companyknows they are there, but just won’t spend the money of getting the assayscompleted

From where I sit, the board has it all wrong. Indeed, I thinkthe board knows exactly what is in the ground but won’t tell anyone. After allthe company estimated REE resources stood at around 110m-120m tonnes backin 2012-2014 if I recall correctly. There was also a JORC compliant scopingstudy released on 11.9.2013