Nice report NTU re resource upgrade to 56 mill tonnes @ 0.63%...

Nice report NTU re resource upgrade to 56 mill tonnes @ 0.63% for which market rates it around 95 mill bucks.
Sure have the cash for the FS as well plus Chinese backing per opts which will no doubt see conversion at 20c in stealth majority assimilation.

SPX is the next nearest thing to NTU style HREEs which China doesnt have, and last cited exploration target abt 19 mill tonnes at similar grades, tho SPX is at surface and NTU has to go deep for it. Market rates SPX at 2 mill bucks.
And surte no cash for JORC upgrase drilling which shouldnt be too hard once they get it, but metallurgy to date sure looks easy for 45 % concentrate.

My point ....... SPX sure looks cheap to me and will pro see multiples upgrade once market also notices it. Am sure NTU would be closely looking and even more so NTU's Sino masters. SPX needs an Aussie White Knight to get it to next stage of project evolution and hopefully ensure we stay Aussie.

Meanwhile opportunity remains to keep sniping and adding to % equity as we await final met tests and the wet to end. Hopefully they are smart to raise min CR needed for some kinda JORC drilling to move us up the attention ladder. there shld be enough smarties on the bridge keeping all this in mind, and with hope of appeasing the recent placees at 4 cps ....... and didnt we think THAT was cheap at the time. Nothing has changed inc China's need to control the HREEs market as well whilst torpedoing the LREEs aspiring competitors like LYC, Molycorp, ARU.

I love this game.

Opinion .... as a past happy NTU shareholder who got out at the right time to focus on this emerging minnow.