After yesterday's AAJ bloodbath, I thought I would try to polish...

After yesterday's AAJ bloodbath, I thought I would try to polish the proverbial turd and came up with the following .

I've been researching a little of the potential for Aruma's Rubidium grades announced yesterday at Mt Deans. I believe this Rb discovery has a very good chance to becoming commercial because of the present lack of the critical metal (US Critical Metals) and growing demand (>4% CAGR).

There are only two ASX listed producers, Lepidico and apparently, Lithium Australia, which I havn't researched much yet. Biggest supplier is in Canada, but its largest mine recently closed.

During 2020, no rubidium production was reported globally. Production of rubidium from all countries, excluding China, ceased within the past two decades. Production in Namibia ceased in the early 2000s, followed by the Tanco Mine in Canada shutting down and later being sold after a mine collapse in 2015. The Bikita Mine in Zimbabwe was depleted of pollucite ore reserves in 2018, and the Sinclair Mine in Australia completed the mining and shipments of all economically recoverable pollucite ore in 2019. Recent reports indicate that with current processing rates, the world’s stockpiles of rubidium ore, excluding those in China, will be depleted by 2022. https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-rubidium.pdf

Lepidico is producing a plant in Namibia with help from the US Government, which speaks volumes about Rb demand.

Lepidico’s strategy is to develop its Phase 1 Project with a US nexus associated with supply of specialty alkali metal chemicals that are designated as Critical Minerals by the US Government. This has led to the United States International Development Finance Corporation (DFC) providing Lepidico with an indicative, non-binding term sheet in respect of debt funding for the Phase 1 Project in Namibia

Inaugural Ore Reserve of 6.7 million tonnes grading 0.46% Li2O, 0.23% rubidiumand 320ppm caesium is believed to be the world’s only Code compliant estimate for the strategic alkali metals caesium and rubidium. https://www.lepidico.com/caesium-and-rubidium/

Note the lower grades of Lepidico's commercial grades to those announced yesterday by AAJ. IN bold above and below.

1m @ 1.14% Li2O at 36m in hole MDRC6 within a wider zone of
o 10m @ 0.62% Li2O and 0.57% Rb2O from 22m and
o 7m @ 0.76% Li2O and 0.69% Rb2O from 31m and
o 3m @ 0.96% Li2O and 0.83% Rb2O from 34m

Normally Rubidium is often produced as a by-product from Lepodolite processing due to its rarity, but commercial quantities in themselves add a significant incentive in Lepodolite production when present. Note the so-called low grade of the Lepidico lithium - 0.46% - in the Namibian project. IF we were to compare the Lepidico grades to what we have so far based solely on the figures here presented, we are looking better.

Lithium Australia's Rubidium grades on Kangaroo Island where they have interest in Lithium, are 1600ppm, or 0.16%, significantly lower than Aruma's grades at Mt Deans. I'm unsure yet whether they have other Rubidium assets.

In short, and after reading plenty on the demand now for Rubidium, especially considering the new focus of the US government Critical Mineral Plan, and the US being the largest Rb market, I suggest that we have not yet heard the last on Aruma's new Rubidium discovery.