tmr index, page-17

Ausheds

The ALK announcement IMHO was great news for ALK SH and CUX SH alike, but especially the ALK holders becuase it shows how switched on the ALK management is to pull this MoU off. If CUX can piggy back off this type of agreement that will be great because as you pointed out it was a potentially huge problem for Australian rare earth producers getting their ore processed.

Seems like not being the first movers in processing ore has possibly proved an advantage for ALK and CUX.

You keep expressing your sceptism of CUX having an economic resource so I am required to express my disagreement on this point. I think the scoping study, due at the end of the year, will prove me right.

It is good to see your acknowledgement of the advantages of CUX's resource being contained in an alluvium fan rather than a hard rock resources. I don't think finance is going to get easier in the near future.

Anyway, I think, subject to the details, the deal the ALK management for their SH is excellent and I hope it sets the format for deals for other rare earth producers such as CUX. Well done ALK management!

Cheers