I have a couple of concerns with AR3 after starting to...

I have a couple of concerns with AR3 after starting to understand how IAC's work. AR3 has a calcareous clay host environment (limestone) and potential strip ratio's are high. Add to this the high strip ratio potential to get the clay/sands out I cant see a viable product, even if the REE markets increase by double! Mining 1-2 metres of ore zone will also limit the economics over mining 5 metre zones.
On the chemistry side, which is the key for IAC's; if the clays/sands are high acid consumption calcareous sands/clays then the costs (due to the amount of acid required) to get a suitable pH for IAC REE extraction will be astronomical. They only have a very small amount of IAC REE's and the rest are colloidal which requires lower pH - thus more acid. They reported good recoveries at pH 1, which dissolves all clay elements including those of the REE's, but have not reported the pH4 or above levels where only the REE elements are liberated and the real IAC numbers. When they did this I sold out.
I think us investors are starting to do our homework more and hence the major drop off over the last few months. Before you all jump in and say the market has tanked - I agree it has and is part of the fall. However, the current halt for additional capital is a little worrying, given we have over $8m in the bank still. Why get more? especially when the market is low and you have more then enough funds to achieve the current work program which should be a catalyst for growth. I can only think it is so they can top up before all the issues on the metallurgy and scoping come to light. They are smart people behind this and they all have a lot to loose. I think they are building a war chest of funds to look for a viable project elsewhere. They would have surely done the pH4 testwork for IAC's, so I can only think they are holding back on reporting this as it was not good? Maybe I am thinking about this too much, but the more I understand about these (as I am invested in many of them) the more I see holes.
I sold half my holding over a month ago and was looking to buy back in at the lows. I think the lows are still a long way off.
I would recommend people DYOR to understand IAC REE's.