please explain, page-3

Hi Slippery.
It's looking like Ngualla is a deposit with more similarities to Mt Weld. In really simple terms, the Mt Weld deposit is extremely high grade because the primary source ie. the carbonatite extrusive material has been upgraded by natural weathering systems into a supergene zone. Long term cyclical rising and falling of the water table has caused dissolution of soluble gangue components from the primary carbonatite rock. Reduction of the total volume subsequently leads to a proportional upgrade of the nonsoluble REOs.
On another note the the market reaction to the announcement this week was bizarre. Its looking more and more like we are holding one of the top three REO deposits in the world for Grade X Volume (also - Mt Weld, Mountain Pass). Certainly the GGG deposit is enormous but its low grade and also contains significant amounts of uranium and will require massive capital expenditure for processing/extraction.