Peer comparison - size and grade

DRE 14MT @ 1.1% TREO / MC $308m

HAS 29.9MT @ 0.93% TREO / MC $453m

ARU 56MT @ 2.6% TREO / MC $1.0B+

LYC 55MT @ 5.4% TREO / MC $7.5B

Alastair mentioned in an interview 3mths ago that "if" the Purple zone (higher grade rare earths) was all mineralised to a depth of around 500m, the estimate resource could be something in the region of 250MT @ ~2% to 3%

The lower grade halo around the purple zone could potential be another 250MT

These were obviously some estimates they had calculated and the drilling (results) will now confirm reality over the next few months!

We have started off positively with 2 holes so far (results) of 250m and 110m @ 2.9% TREO from surface and ending in mineralisation at the top of the hill, which is 200m above the plane, with the diamond tail to continue these holes in due course!!

I am looking forward to the next 6 holes that are at ALS Perth being assayed and are due to be released over the next few weeks.

After that, there are another 18 holes heading to Australia with a further ~18 holes to be drilled.-3%