pancons slant on results

Hi all,

It is interesting to note Pancon's announcement last night on the results, being:

"This is the third successive release on heavy mineral concentration test work and the results continue to confirm and support our view that xenotime/monazite rare earth bearing minerals can be successfully concentrated into a high grade REO mineral concentrate using conventional low cost heavy mineral sand beneficiation techniques.

The ability to produce a high grade +40% TREO mineral concentrate with simple commercial technologies distinguishes Charley Creek from virtually all other rare earth exploration and development companies. Most other companies face significant challenges in concentrating their rare earths for further processing at an REO separation plant.

Given the positive results to date we have already initiated work on an even larger 400kg sample to produce additional high grade TREO mineral concentrate for additional hydrometallurgical test work and as well as to provide samples for examination by potential off-take buyers.

Management and board members of Pancon are very encouraged by these results as they support our view that the alluvial REO resource at Charley Creek can be significantly upgraded using simple, low cost technologies, already in widespread use in the heavy mineral sector, to produce a high grade TREO mineral concentrate for sale and downstream refinement and REO production. We continue to communicate these positive results to our shareholder base and more broadly to the investment community to boost shareholder value and attract the required investment to continue to advance the Charley Creek Project.

Best regards,

Rick Mark
President & CEO"

I also think it should not be forgotten:-

The JORC is for over 200,000 tonnes TREO for 5% of the 2,000 sq klm alluvium fan.

If extrapolated this equates to a resource of 4,000,000 tonnes TREO, which it is suggested it would put the resource in the top 5 rare earth resources in the western world, especially considering the concentrations of CREO.

(I do not think Ausheds is wrong to concentrate on CREO as these REO's will ensure profitability.)

I believe an EIS will take between 12 and 18 months, which if correct could see, if minning is economical, minning commence at Charlie Creek in 2014.

BD if the scoping study does show there is a good profit in mining and processing the Charlie Creek resource then the less than $7 mil will look very cheap.

The way I see it I would like the processor of CUX's REO confirmed and the profitablly of the mining and concentrating of the resource confirmed. I believe these two issues can be dealt with by the end of the year.

Cheers

Stoops