important highlights

Now we have some time to look at the announcement in a bit more detail, a few things have stood out.

1. "While structural interpretation is ongoing and
subject to change with the procurement of additional data, several important factors appear to be emerging.
A number of large (project scale) structures have been identified based on the study of Landsat images (satellite).
These are highlighted on Fig.1 and considered to play an important role in the development of mineralisation at
Ngualla. The results from recent aircore drilling have yielded very encouraging REOs and reinforced the importance of these structures as better grade REOs are spatially associated with one of these structures."

It is interesting that they mention "Number of large (project scale) structures". All things are pointing to this being one very big find.

2. "Intersections obtained to date indicate there to be mineralisation at least in part associated with the
bedrock. Hence the source may be in situ as well as having an alluvial component."

It also sounds that there is a large target under the alluvial component. This means more tonnes, and maybe at better grades). This was highlighted here... "This, if correct, is considered to be very positive given it has the potential to significantly increase overall dimensions for the prospective units"

3. We appear to have a very large Niobium resource as well. This is the red hash area. The grades look very respectable on Niobium alone.

4. We also have some very credible Phosphate. This is similar to the ARU deposit, but is at the surface and looks to be free dig (two very big pluses in lower mining costs).

It will be interesting to see if this follows a similar trading pattern to that of the announcement a few weeks back.