Ann: RareX Investor Presentation - Resources Rising Stars 2022, page-2

Here's some stuff (bolding mine):

• Thinks they'll be the third largest RE project in the country by the end of the year.
• Mentions Cummins is near NTU's Browns Range.
• Very systematic exploration underway to grow resource towards 50Mt and a 1M contained RE oxide this year.
• Permitting process underway - Mining licence in, flora and fauna surveys started,water bores gone in last week to monitor the water, study work underway.
• Plugs investing in RE. "If you're bullish lithium and you've made money out of lithium, you need to have a look at rare earths. That's the space we need to be in now. It's probably a laggard of about two years behind the lithium boom but we think it's coming with a vengence."
• Talks a LOT about EV's and car manufacturers.
• Mentions a project the size of Lynas has to come online every 1.5 years for the next 20 years and they aren't in the pipeline. A staggering amount of demand is going to come. No meaningful supply coming on in the short term.
• Sees NdPr trading at around $120-$180/kg. Would not be surprised to see it at hundreds of dollars a kilo next year.
• Talks about the expertise of the management team - "I'm the least qualified person on that page."
• Metallurgy - Flowsheet not particularly difficult. Basically the same as Mt Weld.
• New corporate development position - "In charge of delivering our offtakes and building our partnerships around the world."
• ESG - Sustainability report out shortly.
• Will be a resource update this year.
• There are two mineralised carbonatites in Australia - Mt Weld and Cummins Range. "Carbonatites are what you want for becoming rare earth mines. There's a lot of talk about ionic clays around the place but our firm view is your want these hard rock rare earth carbonatite intrusions."
• Talks about past drilling as ineffective - "...this wasn't a single mineralised carbonatite, it was a series of stacked lens carbonatites..."
• Talks more about the drilling.
• Mining proposition - "It will be an open pit at the top, grabbing as much as we can and then moving to underground to chase some of the more continuous loads at depth."
• "We've drilled 5 holes to date and everywhere we've drilled we've got mineralisation. So we're on target to achieve our exploration target."
• Second diamond drill rig starting next week. Step back another 250m and drill it out at depth.
• Phospate. Igneous phospate not a sedimentary phosphate so potentially produces a premium product. Good drill results. Will grab phospate in the same open pit as the RE.
• Will spend about $500k drilling the phospate and about $5M on the rare earths.
• Study work. Earlier work got "parked" when they realised most of the resource is going to be in the fresh mineralisation - going to combine it all into one and make a larger SS for the whole project.
• Updated resource launched later this year. Scoping study / PFS out shortly after that.
• Was in East Kimberly last week talking to stakeholders and everyone wants to see the company succeed.
• Looking at land in Wyndham for a processing plant. Close to hydro-power from Lake Argyle. Close to reagents from the port at Wydnham. Thinks it's a good and exciting place to operate.
• Sneaky mention that maybe 2nd largest RE project in Australia.