O.kay, Im weighing in. Big thoughts, big ideas. Possibly all...

O.kay, Im weighing in. Big thoughts, big ideas. Possibly all crap. But hear me out.

1. No divy
Reason
Maintain cash.
Reason
Better cash balance = better percieved ability of our management to sustain/maintain cash flow positive business model= more likely someone will back our rear earths project.

I had a brief look at Arafuras DFS.
That project has some real positives. It is NpDr predominantly, mkt wants this. Their IRR is better. But on the downside they are close to the dead centre of Australia-transport costs, the capex is over a billion and they have 7 mill bucks worth of wiggle room.

So we have the advantage of 800mill capex for stage one, much nearer the coast, an existing profitable mining project, a healthy cash balance, diversity of product including hafnium and zirconium, a tried and tested management team. Possible upside through gold exploration.

If you were going to fund a long life project where the mkt pricing mechanisms are opaque, would you go for more risk i.e a higher IRR but untried mgmt in terms of fianance and cash flow prudence (not saying mgmt at ARU lack these skills, just that ALK is proven.

If we find another decent deposit close to the mill, it could also unlock the rear earths project.