Again, we will probably have some newbies drawn to this...

Again, we will probably have some newbies drawn to this announcement.

I suggest you have a look at the Virtual Investor Conference - 11th May - Metals & Mining Hybrid Investor Conference New York

Some of the main points that Melissa Sanderson raised were the following:

The amounts of radioactive by product are so negligible that we believe we do not need a permit from the Nuclear Regulatory Agency.
We will not need to invest in controlled storage facilities.
We will not need to worry about bearing or otherwise processing dangerous materials.

Halleck Creek - 75% of mineralized zones yet to be drilled and the deposit remains open at depth.
Our Geologists believe the deposit could run as deep as 500 meters.
The deposit is from surface with consistent grades throughout making it ideal for large scale low-cost open pit mining.
We are going to be an open pit mine and we know very well where the ore is.

What we have currently discovered at Overton Mountain and Red Mountain is suggestive of a mine with a life of 50 to 100 years using today's existing open pit extractive technology.
MP Materials will run out of ore at some point, we have the ore of the future.

$13m in the bank is going to fund the following works:
We are intending to get to our Preliminary Economic Assessment (PEA) no later than the first quarter of next year, and we hope to get there by December of this year.
We have identified a partner, and are working with that partner, to do our preparatory work for the permitting process.
We are launching our economic studies.
We are conducting a professional hydrology study. We need to better understand what the water sources are that could be available to us, and how much water there is. It is our responsibility, and our objective, to limit our water use to the maximum extent possible and to build to the maximum extent possible a closed water system.

We hope to build our mine in five years.
If either or both of the alternative processing streams might begin to prove out over the next five years, then ARR is in a leading position to become the licensee to build and operate a brand new never before seen state of the art processing facility, using these technologies.
Ideally we will have a JV with the US Government - they will probably want to hold the patent themselves for the relevant technologies, but that we could be the licensee to operate a processing plant using the successfully developed technologies.

La Paz - you add scandium to aluminum and it makes it stronger, while keeping it light enough to be used to make electric vehicles, while being strong enough to meet US safety standards. The military also has extensive uses for scandium.

We have recently been approached by another couple of universities to take part in privately funded research as well as the US Government funded research initiative from the Departments of Defense and Energy.

We hope to put out a "43-101 Proven and Probable" pretty much coincident with the PEA. It's part of our project of works to do so this year.


My gut feeling is that we will be advised to hold off on the NASDAQ Lising until we are armed with the PEA and the 43-101. All IMO.