This extract from the company's Half Year Accounts report (7.3.2024) explains why I'm keeping my shares for the Niobium play -
"In early June 2023 the Company received assays from a recent rock chip sampling program undertaken at Wabli Creek that showed high grade Niobium and Rare Earth Elements up to 14.3% Nb2O5 and 3689 ppm TREO. These results backed up high grade Niobium assays from a previous rock chip sampling exercise from earlier in the year.
Independent geochemical advice was sought from RSC Geological consultants whom established that the results reflect a historic discovery from a 2.5km rare element pegmatite. They suggested that with the high grades of niobium and heavy REE it is likely that the rare element pegmatite has a Niobium, Yttrium, Fluorine geochemical signature, however further work would be required to accurately determine that.
The discovery of further high grade Niobium from more eluvial rock chips is an exciting prospect for the Company and so the Company entered into discussions with the Traditional Owner group to progress heritage surveys at the project. The heritage negotiations were ongoing as at 31 December 2023."
RR1 Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
