Here is a link to the original published paper for that...

Here is a link to the original published paper for that research.

http://www.nature.com/ngeo/journal/v4/n8/full/ngeo1185.html

REE concentrations in this deepwater occurrence are a maximum of 0.2% but average 0.05%. The deposits are in waters that are typically 4km deep and are within layers of mud. Only some of the mud layers are "enriched" in REE. Abundances of individual REE are not detailed in the free summary.

These would be difficult deposits to access and extracting the enriched REE lenses from barren mud layers would present great difficulties.

There is some good news. Most of the REE is readily leachable from the mud using either H2SO4 or HCl.

As other posters have pointed out, this is old news. It is the kind of material a downramper might present to pour more fog into an air of gloom. The issue with LYC is just that, the issuing of the TOL. I expect the company is clarifying the confusion that appears to exist regarding the latest two conditions. The company stated they had submitted the documentation while the AELB has stated that documentation is still needed.

Once this confusion is cleared away it is reasonable to expect LYC to make a public announcement.