This is a very good development, although I do have some mixed feelings about this new REE potential.
On the positive side, it sounds like the REE potential exceeds the U potential in terms of value. The core samples are (hopefully) all ready to go so perhaps limited additional drilling required to prove up an initial REE resource.
On the downside, I see this as derailing the progress made towards U production and I feel this requires us now to "return to go" at Firawa. They were talking about producing U possibly in 2011 out of Firawa. How long will it take to review the operation, re-assay all the previous samples?
And what about the further drilling at Firawa scheduled for 1Q 2011? Can we assume this is still going ahead - I hope everything is not going to be placed on hold.
In a nutshell, I feel like we've been very patient with this stock and I fear now our patience will be strained again as we change horses mid-stream in Firawa.
I'm interested to hear the opinions of other medium-long term holders on this as I'm not sure if my fears are unfounded or if I just need to suck it up and face the facts that once again all the time-lines will be shifted and the waiting begins again.
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