Met results, page-12

Hi AE23.
The contract for Curtans Uni was appointed in late August. The Uni will use these test as a thesis for their students hence triggering Gov funding.
Unfortunately due to class periods these test could not start until funding available and class commencement in January 24. Metallurgy works started in February. These tests are soooo extensive where no stone will be left unturned to find the best flowsheet from samples at a massive saving to the company in the $$millions. A contracted private Met Lab would charge for each different protocol. My understand is results should be ready early H2 and will be in depth and conclusive.

The PFS was targeting open cut at the time, It did not include Boron or where the high grade Boron sits in relation to the mountain and also EPA issues at the time. Yes AR should off relayed this to investors. If the Boron can be easily extracted increasing "in ground" and putting Rio in their sights the higher grade mineralisation (Tin Tungsten B) can be accessed via a portal through the side of the mountain as a stage 1 and a small open pit top of mountain stage 2 where the pit is opened for a few of years and backfilled. As it stands the project is roughly 8-10 years making this project boarder line but with positive mets and portal access to the higher grades first will push this development into viable territory.

Mt Lindsey could be a good backup if the REE spot price comes crashing down giving VMS another basket of eggs. (well...an egg at least). As Phillipa stated and agree, REE is on the bottom of the price cycle and towers Mt Lindsey in size. Sell of any lease that provides no value. If Mt Lindsey is to be sold once Mets are known I would like the BOD intensions to be approved by SHers first. MT Lindsey has cost us $110ml so far.... at shareholders cost.

GL @AE23