Ann: Trading Halt, page-45

The day didn't help, but we are only working from initial results from a small adjacent company and we have many steps to build value.

REE is there. The % in the best drills of PTR are a great indicator.

Ionic mine is about 800ppm (0.08% REoxide) average in saprolite 10m thickish. Much lower Capex and Opex to get mine going and usually none of the radiation concerns with hardrock. Scale and all important REE distribution (hopefully heavish) are also TBD. Having said that if can be traced to high % hard rock leaching then that is OK too.

As MEU say in the release the best results from PTR are on the border between the two companies, very likely MEU could reproduce on their own land similiar results. PTR now in trading halt for money to extend drilling. This drilling will benefit MEU directly, sit back and just watch, and do some resampling of previous drills (most seem to do Plasma mass spec) if the clay composition thickness matches, on trend, and good top thickness.

MEU has a toe in the REE door. Given the land holding, could have the largest REE mine in Australia/world... or not ... or somewhere in between. We do know grades are good just over the border, is limited sampling. The story begins...