HIGHLIGHTS:
- Positive results from phosphate extraction pilot plant (Phase 2)
- Successful completion of bulk pre-leach pilot plant (Phase 3)
- Environmental approvals process advances with follow up response to Nolans EIS Supplement
- Detailed geochemical resource analysis identifies 66% of high-confidence resources is phosphate-rich material best suited to Nolans flowsheet
- Sustained NdPr price increases achieved in 2017 with prices up 42% YTD
- “Made in China 2025” strategy to result in significant growth in Chinese domestic demand for NdPr and NdFeB magnets
- Increased corporate activity in the rare earth sector validates forecast structural changes in the demand supply profile for NdPr
- Share Purchase Plan closes early, raising $3.1 million
- Cash balance at end of reporting period $12.5 million, sufficient to complete Nolans pilot program