Ann: Step-Out Drilling Intercepts up to 24,894ppm TREO, page-88

Time to go on ignore, it has been clear from day 1 you have zero idea what you are talking about so it's a waste of time having an intellectual discussion.

"E.g. Ever compared hard rock lithium to lithium brine?"

No because its a useless exercise and means nothing. Brine has a fraction of the grade of hard rock, more than 20x as you said with BRE vs. VMM, but we see brine plays are some of the lowest cost producers especially compared to some hard rock spod players (let alone lepidolite). Same story as IACs to hardrocks, IACs will likely be in the lowest quartile of the cost curve compared to hardrock.

BRE may indeed may get great margins if it gets to production, I have no idea, I don't pretend to. But a hardrock project will have a gigantic CAPEX. Use ARU as your basecase then add additional radioactive mineral extraction, scandium circuit.........

People seem to forget Mt. Weld was/is exceptional as well. Still took Lynas 10 years of R and D and a truckload of cash to get where they are.

"I'm not afraid to make comparisons that have not be made before on HC."

Okay enjoy being the laughing stock of HC then, which is truly something. Goodbye.