Ann: RareX Investor Presentation - Resources Rising Stars 2022, page-3

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09/06/22

15:10

Post #: 61921171
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Originally posted by keepingitril: ↑

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.

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Was it just me - Or was JR a little nervous in his speaking??
REE Price at posting: 6.9¢ Sentiment: Hold Disclosure: Held
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Ann: RareX Investor Presentation - Resources Rising Stars 2022, page-3

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