ENV - MORE ACQUISITIONS LIKELY - POISED FOR SIGNIFICANT UPSIDE

Hi Guys,

I have to admit, I did not see this in the announcement the first time reading, but upon having some more free time over the long weekend, I found a very important bullet point that certainly needs more attention.

It reads :

"Enova’s entry to the Poços de Caldas region has been well received with local landowners, with discussions seeking to strategically expand existing tenements where feasible"

From what I gather, they will look to expand their existing tenements in the region, thus becoming more of a powerhouse in this lucrative and prosperous area.

Most should know that the board and management are ranked amongst the most knowledge people in the rare earth sector, so this for me is another green tick.

Right now we are valued at $~12 million, I think we should be around the $20m mark which is around 3.5c.

With more acquisitions, I think we should be worth around $30-40m, pre drilling that is.

My rationale for pre drilling is that the whole complex, is mineralised with exceptionally high grade leachable clays, demonstrated by MEI and VMM. VMM have proven that the minimisation expends past the mapped alkaline body, which is great news for ENV's 1200 HA block, which should be able to get around 100 Mt.

Drilling should also should start very soon, they mentioned Feb last time so any day now. It is very easy to delineate a resource there. There is no fancy drilling to try strike the end of the pegmatite body, or trying to find the feeder zone, none of that.

It is simply VERTICALLY DRILLING amongst the whole tenement boundary, this is beauty of IAC deposits, the "ore or clay body" is basically the tenement boundary.

IAC is very resilient to spot pricing for the REE materials, this making it extremely low capex and opex to operate.

I can see ENV being a monster. Let's bring it on management!

All IMO