Ann: RareX purchases option to acquire interest in CREC, page-11

Well this is interesting. It looks like a good deal.
They get 12.5% of an emerging rare earth focused vertically integrated company. It seems cheap at the moment, worth $8.5m?
They get access to major customers and access to valuable refinery capacity, so looks like Cummins material might go to closer to Thailand or Laos for processing where the costs would be lower and wouldn’t have to deal with China.
As a major shareholder their value in CREC would increase from processing their own ore.
Bit funny how KCC want to list from Canada to Aust, and REE as a Aust company want to be part of a Canadian company!