Ann: Drilling at Ambato Complete, page-19

I would probably say this is a bottom draw share.  Obviously risk attached, as finding REE in commercial quantities is always difficult.  The latest results showed some good results in certain parts, but overall depth and width missing meaning not commercially viable there.   Hence the market reaction.  They have other targets on the tenements and an airborne survey will be undertaken, which they are doing.  I wouldn’t invest too much at this stage, and maybe would even wait a while to see where things are at here if you are thinking on entering.  They are exploring and at least doing something, but the drill bit will decide.  Tenements are also at a renewal stage, so a risk there but most think the tenements will be renewed.  As I said bottom draw stock for me, but only have a small investment here as is a high risk play (so only gamble what you are willing to lose).  

Investing in REE stocks is genuinely a high risk perspective in any event as there are few viable REE mines in operation worldwide. Small punt, but wouldn’t go overboard unless get better results and you probably have a little time to think about it given the sell side stacked at o.1cents at this stage I can’t see it budging for a little while (probably around the airborne surveys results if things are good there). MNB has another play, but I haven’t looked at it as was focussed on the REE aspect.  Anyone finding a good REE deposit will probably be well rewarded given REE needs in EV, and the fact many of the buyers are seeking supply sources outside China. Hence the risk reward play year given the geology, but the first set of drilling on a part of the tenement wasn’t great, unfortunately for me.  Such is life.  All IMO IMO IMO