Ann: REEtec Increases Offtake of Vital's REO by 50%, page-43

So I pinged Evan Cranston on Twitter as this Ann had wording that hadn't fully sunk in and understood. I will end up Ringing head office just to clarify over voice.


My Message,
"Reflecting the planned ramp-up schedule of the Saskatoon Rare Earth Extraction Plant over the
first 12 months of operation, Vital will deliver to REEtec an initial 187.5t NdPr (contained within
approximately 500t TREO) by October 2023."

Evans,
TT the first 500t REO (187t NdPr) have to be delivered before October 2023. Therefore between first product produced and October 2023 we need to have delivered 500t to REETec. This is in line with our planned ramp up scheduled through 2022/23.

The issue I had was the October 2023 part that it in my mind throws doubt on sales beginning in mid 2022 which in turn would lead to another CR as according to last quarterly there was Two Quarters left of funding though this could be stretched further with Mining coming to a halt but I doubt it would be enough to 2023.