It is not 100% certain it's REE, but considering all factors...

It is not 100% certain it's REE, but considering all factors involved, it *is* highly likely. Still, not all REE elements are created equal and some are fairly common and others are extremely rare.

There is a cut-off point at which a lower grade becomes uneconomical to extract. If you have to process large quantities of rock to extract tiny amounts of REE, then no matter how valuable the REE you find are, the costs may outweigh any benefit.

Luckily the price of REE has been rising and rising, and as such, that cut-off point is very low,... but it still exists, so anyone basing exclamations of success solely on the value of REE is leaving a very important factor out of the information they are giving.

Now, don't mistake me for being negative here... everything I've said above is true, but it's all a matter of levels and gradations. I think it is very likely there is something worthwile in the ground at Mt. Barrett... but there is a big difference in what the SP will do between finding a lower grade of common REE and a higher grade of rare REE. In one case the SP could stagnate below 1c, in another it could shoot for the moon.

And that's why we need to be careful about jumping to conclusions about what it all means before sample material starts coming out of the ground. And it's also why the really big money and SP movements will not happen until after all that has happened. None of the big investors are going to pay above 0.4-0.5c until there is more actual certainty... but that won't stop them from opportunistic punts whenever the SP drops to the 0.3-0.4c range.

[Do Your Own Research]