IXR Scoping Study

Now that we have all digested the recent announcement on the Chinalco MOU and the SP has firmed up somewhat , I thought it was a good time to cast our thoughts forward a week or so to the release of the Scoping Study due in the next 6 to 7 days. My first thoughts were that given the obvious close interaction between IXR and Chinalco it is possible that some of the information they have both exchanged will find its way into some aspects of the Scoping Study.

If that is the case I do think that IXR can benefit in some shape or form from Chinalco's vast experience in mining and processing of REE's. Their input but NOT oversight may well increase the level of confidence in the SS when it is released. Whether or not that occurs we may never know but we do know that in the next 6 to 7 days that SS forecast of future profits and cash flows will be eagerly awaited. From memory SF2TH has forecast that this document if well received by the market could justify a SP of 7 to 8c. That indeed would be a great outcome if it were to occur!

Cheers W2