Ann: Step-Out Drilling Intercepts up to 24,894ppm TREO, page-67

comparison of Mei sp performance is difficult as ree pricing was at least 150 percent higher and sentiment in the sector was high vs current situation.

1st may 2023 was the mre releases for Mei. It hit 19 c.
on the 12th April 2023, it hit 10c low. So just over 2 weeks prior to mre, the sp had approached the los (9 c) following it ATH of 17 c after the initial run.
we can’t expect an exact correlation because at the time, MEI was unique in it’s grades for IAC REE deposit and overall sentiment due to REE pricing. It is why currently even MEI is sitting at close to 35 percent from ATH. Vmm is sitting close to just over 50 percent of ATH.
At this point, from a general IAC Brazilian REE perspective, the MEI scoping study is of vital importance to provide an indication of potential opex and capex. More importantly, where in the cost curve MEI is presenting as when commodity prices drop, the market assessment is biased on the quality of the resource and its viability vs just the hype of having a high grade resource. Further, a unique discovery differs from a discovery that is not. Vmm is progressing very well. The technicals are showing bollingers narrowing and the sp consolidating between 1.05/1.06 to 1.27-1.30 since the 5th of Feb 2024. It has failed to breach this downtrend, of which the upper trend line was tested and failed. Will it retest the lower base or continue consolidating within the horizontal channel. Volumes are relatively low and we are approaching pivotal period in ascertaining the nature and potential viability of Vmm deposit - Mets and mre.
will mre and Mets cause a potential takeover offer of Vmm due to the cheaper mc ? It would be cheaper to offer 500 mil to what we suspect to be Mei 2.0 vs well north of a billion for Mei.