ASR - Chart, page-347

1Sun Tzu, being hard nosed, there is no evidence to say the ASR REEs are not economic because the metallurgy results have not been produced to enable economic modelling because of the exploration phase is still in play. It is with greater probability now with the replacement of the MD with a man of considerable mining operations background, the metallurgical reports will be produced because the previous MD had no such experience and had fingers in a few other pies. The other thing I would say, is the expert you refer to was talking in general terms and was actually a competitor and as such was not offering independent advice. Yes, this is the rarest of deposit types as verified by Professor Collerson, that's when the other expert backed off, which discounts the previous expert's view as to the economics of extraction. Key cost saving lies in the fact that the deposit has low radioactivity, unlike other REE deposits which make it very rare indeed which make it safer to mine environmentally which is a huge cost saving in dealing with radioactive waste other REE deposits must handle in the processing. That also makes it very attractive for a different, environmentally aware investor. The other thing I would say, is the REEs are at surface. This is a huge cost saving in regards to extraction. Further cost savings come from scale. Early indications are that it is vast. So yes, time will tell. I view this as a restart, given that internal politics seem to have played out and a new direction is being set.