Can you tell us what needs to happen for this to become, the MOU to become a binding offtake or equity deal?

Sure.

Yeah, they just need to continue to do their work.

You know, I've been dealing with a lot of Asian companies and countries for numerous years over my 35 years in the resources industry.

You've got to build the relationships first with most of these companies and they've got to be trusting you and, you know, that's the process we're going through right now.

They're getting a better understanding of the project, the company, the people in the company.

So continuing to build that, continuing to demonstrate to them that we're meeting our targets, that we're doing everything that we said that we're going to do and, you know, looking towards, you know, obviously them.

Can you explain to our audience who may be going through the wide range of rare earth companies that are out there and explain the real competitive advantage for defense metals and why so many veterans have you on their watch list?

Can you explain to our audience what makes you so competitive?

Tracey, it's a number of different factors.

We've got a great deposit.

Mother Nature's blessed us with the fact that we've got great mineralisation, which enables it to concentrate up to a 50% concentrate grade, which means that we don't have to build as big a hydromet plant.

So the economics that come around that we did through the pre-feasibility study last year demonstrate that it's very robust.

And, you know, when we talk about volumes that are coming out of the project from the pre-feasibility study, it puts it as one of the global leaders in relation to about 7% to 8% of global production.

And, you know, we're producing NDPR that goes into permanent magnets, which are essential for electric vehicles, wind turbines, robotics, etc.

Can you comment a little further about the team you're building?

And how are the pastures looking as far as growth and, uh, like where do you think they're at? Do you think they were impacted by last year?

Um, so far, yeah.

There's definitely some areas that you could tell from the drought last year.

Uh, there are some areas that, uh, on some of the shallow ground that are, are, are behind.

They're suffering a bit.

Um, the cool start to this year, the grasses were a little bit slower, uh, um, getting started.

Um, I did put my cows out to pasture a little earlier than normal so we could ignore them when we went south.

[laughs]