Spotlight on American Rare Earths, page-4871

Just referring back to lots and lots of discussions based on the scoping study document. The grades and cost of production etc were all well covered there and supported in the scoping study economics. EXIM figures seems to be based on the study details. Although this could change, I am thinking the study findings and fundamentals should hold water and be more reliable than pure speculation by individuals with limited information on every aspect of the project.

If skijapan is able to substantiate his raised concern over the grades with any logical evidence, it could raise concerns but otherwise it will be like a debating between a religious person and and atheist, it will not reach anywhere.

My limited understanding of the various REE processes is that, only China has significant success so far and they only have the latest functional technologies. There are few others we could consider in the mix such as MP and LYC, but they are all having their own struggles. However, ARR has research partnerships and they have demonstrated processes and options for this particular resource we hold especially considering the grades and associated operating costs, which are included in the scoping study details. We could always send clarifications to its authors to get more reliable detailed information before resorting to speculation at various levels. From an investor's perspective, I would value the study over speculative chats or pure individual opinions. I am sure the definitive feasibility study will establish more certainty and reduced risk to the project, but by then our SP may be 1$ (just speculating), so as wise investors, it is all our decision. Attached is study Highlights page