Ann: Thick Intervals of Rare Earths Uncovered at Comet, page-12

The key components of a clay based rare earth deposit are:

1) deposit close to surface
2) to decent depth and thickness
3) reasonable grade
4) and probably most importantly they are ionic or the rare earths are capable of being leached/separated from the clays

The results are not amazing with respect to the 1,2,3 and with respect to leachability this can only be established with detailed met work.

There is obviously a presence of REEs though so with more exploration maybe you can better satisfy the 1, 2 and 3 but step 4 is critical.

Have a look at IXR, which is an african based project, which has been proven to be ionic with a big resource and is progressing towards mining.

There are not many in Australia that have proven to be commercially ionic yet. Suggest having a look at ITM, which has tenements in the kaolin rich clays of the eyre peninsula also in South Australia. They have done more exploration but satisfy 1,2 and 3 better and have had early favorable met results on potential leachability. They are waiting on the finalisation of significant drill results and more detailed met testing.

Might be a good one to follow to get a greater understanding of what's required to be a viable project. Their website (IXR and ITM) also have good information on these types of deposits.

Anyway good luck.