Very early days, ionic REE in clay is a market darling given prices and green association. I lost the chase in share price on a very good candidate for this type of development, so willing to take an early punt on MEU.
MEU share price and MC is ideal and been relatively flat. MC is strong, cash backing good, can source additional funds if reuired easily in the next year. Probably a few shareholders willing trade out because they original signed up to MEU Uranium history. Personally I think U is difficult story to sell than REE/ gold. (sadly, just needs one shell from Russia into a Ukraine reactor, and U is done)
Always look for the backup. The backup is gold exploration underwhlemingly represented in the share price, understated from my new semi-excited viewpoint. Directors were buying solidly around the 4c level, great to see.
Below, is the surface regional geology on a broad scale. Ionic REE clays can be widespread, the surface geology where PTR in Red with the Blue "X" showing there recent good shallow drill results for REE. The locations sits at the edge of the regional geology largely covered by MEU tenements as shown above. A long bow, but I have drawn it.
