Ann: Quarterly Activities Report and Appendix 5B, page-2

Did everyone miss the quarterly coming out this afternoon? No comments so far. 
Anyway, shares were sold down today slightly prior to the close and the release coming out, looked like the sellers were testing a few people out to grab a few more before the release after market. 

Overall the quarterly looked very good, my key outtakes were: 
- Separation plant to be built at Nolans, eliminating any sovereign risk from the project, which is fairly valuable in this sector at the moment. 
- ARU happy with engineering work that has held up the DFS, saying that significant progress had been made and they look forward to reporting the results in early Feb
- In addition to the offtake agreement with the Tier 1 Chinese supplier, we have now signed an MOU with an Indian conglomerate in relation to phosphoric acid, with a plan to formalise with an offtake agreement
- Company has $9m cash at 31 Dec, which means the real market cap (EV) of ARU is currently about $23m - looks cheap to me!!

DFS results are due early February, so potentially as early as next week. 

Going to be a pretty big year for ARU and with a double bottom on the chart at 4.4 cents, should only go up and could easily double from here!