The presentation is mainly fine tuned from the RIU Perth...

The presentation is mainly fine tuned from the RIU Perth conference last quarter, as no news has come out on Sybella (other than ANSTO repeat testing), but this slide is completely new. Agree with other posters, Rob came across much more confident this time around and clearer articulation of the potential for Sybella as a low cost REE supply with huge scale.


Quite a few hints on what is coming in the Phase 2 met testwork in here - tested pH setpoints up to 3 (note that pH 3 puts Sybella in the same leaching/impurity basket as a Brazil ionic clay project if they can pull it off).

Also they look to be testing very coarse crush sizes 10 mm and 15 mm. I have been basing my OPEX estimates on a 4 mm HPGR crush size which Apollo Hill is proposing. HPGR is an additional step following jaw crushing so more CAPEX and OPEX. Jaw crushing to 10-15 mm is a big win on OPEX/CAPEX front if they can pull that off.