Good to see an announcement on developments on the rare earths...

Good to see an announcement on developments on the rare earths strategy. Will probably take some months to see whether the various elements referred to bare fruit and result in something that will add lasting value (as opposed to the occasional trader-driven peaks and troughs).

The move by a significant shareholder to replace Allan Branch with himself has I think encouraged the board to take soundings from other shareholders about the companies strategy, capital management and communication. I have always found Allan quite approachable, even where our perspectives differ on some things. The board has set out their strategy clearly, now they need to deliver. Given it will not happen overnight, showing evidence that steady, tangible progress is being made is essential- and some more active capital management wouldn't go astray.

angus