Ann: Quarterly Activities Report and Appendix 5B, page-5

Thanks for the info, I'd never considered Kaolin tbh - but if it's not a battery mineral I love it for RNU already !

They recently did a SS on their Kaolin project, plenty of numbers to like in it. Seems to be fairly low capex which makes the IRR number very juicy indeed. Hopefully our project heads in a similar direction...

All In Sustaining Cost2 (AISC) averages A$396/tonne of fully refined kaolin with an anticipated selling price3 of A$700/tonne; Project Cashflow is approximately A$800M; Net Present Value (Pre‐Tax using an 8% discount rate) is A$413M; Internal Rate of Return of 174%.