Spotlight on American Rare Earths, page-674

I guess we've all seen this chart before.



The chart relates to the life cycle of ONE Discovery ... we are going to have 5 or 6!

In interviews management have said they don't need capital for the next four quarters. We are, however, currently evaluating a couple of potential projects. If they stack up, we may need to outlay some funds to procure them.

My gut feeling is after the JORC Resource is announced in Q1 2023, we will then go and list in the US, and raise our next year or two's funds by that method.

As for construction costs, we don't even know the processes we will be using for extraction, separation and purification yet, so we can't even guess at what will be needed to be constructed. I expect it will take a few years before these processes are bedded down

As for funding, we will also have the option of using the US Export Import Bank.

I guess in my mind, we don't need to concern ourselves with these issues too much, and there shouldn't be too many impediments to our Market Price getting to $1bn. Keep exploring, discovering and building our resources.