The announcement this morning is pleasing and concurs with Gower...

The announcement this morning is pleasing and concurs with Gower He's initial comments during the webinar last Tuesday. During this webinar Gower stated they started this project only 2.5 mths ago and were working hard and fast to get the results back to shareholders as quickly as possible. I was impressed with He's and Stewart's factual presentation. We have a gun experienced expert team at the helm (Gower He CPA, Chief Geologist Stewart, expert experienced guru miner Sandro etc.). SUM have 9 current projects on the go - the Equador Niobium Project is moving along at a rapid pace with the latest Lidar survey being conducted per announcement. Summary in haste below...

Chief Geologist Stewart is an expert and very experienced (geologist 17 yrs). He basically said during the webinar he'd been chasing pegmatites for the last 10 years and that he was able to decipher in a couple of days in Equador that the the pegmatites were formed buy way of a large stack system. He said they were zonal, kinda reminded him of some of the larger pegmatites he’d worked on previously. He figured out the enrichment zone extended 10-15m from contact points to the core. He said there were multiple pegmatites running parallel along strike, lots of sampling – major feldspar, mica, columbite, tantalite, tourmeline, crystal base present. Cross cutting pegmatites run the length of tenement. He said it was a very fertile system and seemed confident - there are grade crystals 5mm to the size of your arm high niobium / tantalum easily accessible for rock chips. He said, are there high grade rock chips? Yes. Global grade? "We don't know yet."

Stewart asked 2 things 1. Is there volume? "Yes, there’s plenty" 2. Recovery what’s end concentrate going to look like? Next process to ascertain this? Stewart stated along the lines, “We’re pretty confident…if the selected samples as we call them were low grade we’d be looking at moving to different projects." As stated, they have 8 other projects on the go, 9 including this one.

For those interested summary below...Gower He and Stewart then went on to say that their next step involved a trenching regime along multiple areas along strike to expose all the pegmatites, BULK SAMPLE across entire width.

SAMPLES to be fed into crush grind (either spiral or ‘table’ style separation program) and possibly parallel this in OZ plus lab in Brazil (Big mining infrastructure – can get quality work done in labs in Brazil, previously done with lithium, iron ore etc.). We have a pegmatite – concentrated large crystal in a small area rather than a homogenous cystal in large area. i.e. We don’t have to move large amounts of dirt to get high grade samples. Cost reduction.
MOVING FORWARD – trenching, bulk sampling, lab test work then drilling purely to get a volume number. Add these together to calculate how many tonnes we need based on grade – establish how much $ we can sell the grade for? Niobium / Tantalum very high value.
- Target is 3-6 mths we can ascertain volume / quality of assets.
- Next 6mths lots of news flows coming out.
- Results 2^nd announcement, team now looking for outcrop currently sampling extra 1km toward the bottom. So in a nut sampling over 4km multiple pegmatites across stack system. All to provide initial finding “wasn’t just a fluke”. i.e. that it’s spread out across a larger area.
- Timeline, permit easy to obtain (2-3 weeks) low environmental impact, windfarms, power, water, infrastructure in place, much easier in Brazil than elsewhere, trenching / sampling 2 mths, serious results by end year. Currently sampling, mapping in the mean time.
- LIDAR SURVEY being conducted atm while outcrop sampling still occurring (23/07/24).

I am confident and standing staunch with this stock. Gower / Stewart have delivered so far what they said they would. 9 projects on the go. I work on probabilities and can only see good things happening with SUM, key is patience. Hopefully they get that drill in the ground soon but in the mean time they need to keep these regular announcements coming through. I have no doubt Gower has a sound strategy in place and is particularly mindful of the shorting wolves at the doorstep. He is far from rolling the arm over. IMHO DYOR Good luck everyone!