The quarterly reads well. I'll be seeing Rob at the sydney RSS conference next Tuesday. I hope to ask him many questions and observe his tone, energy and reactions to all questions.
All in all. The team is focused on de-risking Sybella
1. Further bottle roll tests due any minute 2. Column leach tests starting next quarter 3. further bottle roll leach tests planned.
This is key as it proves we have a bulk tonnage leachable REE project that will be first of its kind. Once 1 and 2 above are ticked this will be massive IMO. This is key because: 1. It proves this project is lowest cost quartile. When Meteoric is boasting about being low cost in comparison to Monazite REE projects we can boast about being low cost against Clay hosted projects. 2. It paves the pay for the Scoping study which then turns this project into an advanced project working towards a PFS and then a DFS and mining.
In addition to this the team is also working on advancing the resource to indicated category which is an ASX requirement to produce a scoping study
It also looks like they have been successful with the QLD government on this project that the QLG Gov has thrown money their way.
Finally they are well funded to do all this work by end of year.
Lets not forget the added bonus of their other projects. As I've stated before RDM is a prospector company. They try find Tier 1 projects. so far 2 success stories and hence the low share count.
Management has also been great and honest and has set the standard on reporting for REE companies on the ASX.
RDM Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
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