quarterly report - good reading, page-10

Fibonarchery...

Don't know RVY...will take a look when I get a moment.

The key interests for me with SPX include...

1. High-grades at surface and mineralogical signature suggesting both primary source (structural?) and secondary host (strata-bound?);

2. Skyfall's suite of REO's are at more expensive end of the pricing spectrum with a high percentage of magnetic end use elements (MEU's - also fastest growing area of the Rare Earth suites);

3. Scale of the geochemical footprint;

4. Apparently shallow nature of the find (flat-lying and ore-grades starting just 2m from surface revealed from a hand-dug pit);

5. Mineralogical characteristics pointing to higher net basket price and lower cost processing (Xenotime/possible Absorption end of the spectrum);

6. Low shares on issue, tight register.

Downside is current lack of cash...they will need to raise after this round of drilling...and the sector is not exactly flavour of the month thanks to Lynas et al.

They need to have some luck here...as per all exploration plays...but I like the region and their targets and I believe they will have the luck they need.

I suspect this find will be superior to others in the region, possibly even on a global scale.

I have also identified some fairly prospective ground in their EPM's that I am not even sure the Company is aware of.

Plenty of upside here...regardless of the results of the drilling programme, though it would be nice to see success first up and money raised from much higher levels.

Cheers!