Don't disagree without you about Caralue Bluff, it's got the...

Don't disagree without you about Caralue Bluff, it's got the worst combination of both low TREO grades and poor (expensive) metallurgy. No wonder ITM have quietly dropped it from their focus years ago.

My reference of 1500 ppm is OD6. OD6 is the closest peer to VMS I can find given VMS is around 1500-2000 ppm grades. Both in WA, both have huge scale/tonnage potential. Differentiating factor may be the met. OD6 currently sitting on ~85% magnet extractions but they are using pH 0 hydrochloric acid, hence the $5m mcap and still falling. I am waiting on VMS met, on a scale of OD6 (0/10) to MEI (10/10), where will it land?

ILU Eneabba head grade is 26% TREO, LYC head grade at Mt Weld is ~5% TREO which is concentrated on site to 25% TREO before refining, so what they do for their met is not comparable to VMS (or any other REE clay project) with head grades at a minimum 20x lower, apples and oranges really.