Rare Earths Beneficiation Favourable Mineralogy Confirmed

A critical piece of the product preparation strategy - The leach step which allows us to 'wash' the dual mineral concentrate of the apatite phosphate mineral, sending it into the LFP battery pre-cursor facility, does not impact the rare earth bearing minerals which means they are highly amenable to significant upgrades as shown from the 20x upgrade from a 1% TREO head grade discussed in our October announcement. This is an excellent result and perfectly aligned to our product strategy.