IMO, there are many ways to create value for shareholders. If we...

IMO, there are many ways to create value for shareholders. If we can demonstrate that we have a proper ionic clay deposit (with a high proportion of ionic material and where the REEs can be liberated easily), we will be in a good position compared to the majority of rare earth projects in Oz. IMO, it's possible that only a handful of current REE projects around the country will prove viable. If it turns out that Narraburra is one of the few that is viable, we will have something of real value on our hands.

I'm actually of the opinion that it's generally a good strategy for small explorers to make discoveries, prove them up, and then either sell them (for a fair price) or find a large partner with deep pockets to help develop them. That way large producers can focus on mining operations and explorers can focus on exploration. It's sort of win/win. It's very difficult for a small company to go it alone from making a discovery to building and operating a mine. It does happen but it's actually pretty rare and it usually takes much longer and involves a lot more risk. There's a lot that can go wrong along the way so it's wise for small companies to de-risk by partnering with large financially strong companies.

So perhaps having a large company farm in once GRL has demonstrated the potential value of the Narraburra might be a good move for us down the track. But that's a long way off; one step at a time. For now, let's hope for a continued flow of good news from ANSTO over the coming months.