Preliminary discussions with potential customers and major...

Preliminary discussions with potential customers and major trading houses have
indicated that customers in China, Japan, Korea, Germany and the UK may be
interested in importing high grade NdPr carbonate from the Company.
The new study will review the economics of this and preliminary studies have
indicated that this is expected to require an increase in the capital cost of the
project from US$131 million to around US$200 million.