Although I do agree that there is scepticism with all clay...

Although I do agree that there is scepticism with all clay explorers to be fair.

I think the market thinks VTM's exploration area is not big enough. Everything else ticks boxes. So with that said, outside of whatever this TH is right now the real market re-rate in regards to the REE's would come when the JORC resource size is announced.

All the cards will be on the table then and if the resource is big enough I think VTM would re-rate up extremely quickly to upwards of $100m + MC because at the JORC results are released the met results would also be known and we assume highly successful given we are dealing with ionic clay. I would expect VTM to achieve amongst the highest recovery rates in the clay sector opposed to others like OD, DM, Tower etc.