Recharged with a $A5.3 million IPO in January, Infini Resources (ASX: I88)  is accelerating exploration across its diverse portfolio of energy metals, underpinned by uranium and lithium assets in the top-tier mining jurisdictions of Australia and Canada (Figure 1).  The company has a strong presence in four Canadian provinces, where it pursues uranium exploration through its Portland Creek, Tinco, and Des Herbiers projects, and delves into lithium with its Patterson Lake and Valor operations.   In Western Australia, the company holds lithium ventures at Pegasus and Parna, along with a uranium project at Yeelirrie North - reflecting a strategic balance in its resource development portfolio amidst record highs for uranium and record lows for lithium.  Figure 1: Infini project locations (Source: I88 website)   Commenting on the company’s ongoing exploration program, Infini CEO Charles Armstrong said:  “Our strategy is to move quickly to add value to the projects through on-ground exploration activities including geophysical and geochemical work programs.”  After the initial fanfare where the share prices clocked up to A$0.56 intraday, Infini’s shares are currently trading at A$0.18 with a market cap of A$10.68 million - two cents lower than its offer price (Figure 2).  Figure 2: Share price chart (Source: ASX.com ) Fieldwork kicks off at Portland Creek Uranium Project   With approvals in place, Infini is “aggressively” taking on Portland Creek, kicking off with fieldwork that includes prospecting, channel sampling and geochemical surveying at its priority targets at the Newfoundland Project.   Previously, multiple large uranium targets were identified at Portland Creek with desktop analysis narrowing down on 8 exploration targets to date, with known uranium showings the property grading up to 2,180 ppm U3O8.  Armstrong said: “The company is now aggressively pursuing its exploration efforts at T1-T8 with a field crew currently being mobilised to site to undertake initial reconnaissance and potential sampling if ground conditions permit.   “The Talus prospect remains the key focus of any ongoing field activities where high-grade grab samples coincident with a massive U/Th anomaly suggest the potential for an undiscovered uranium deposit to exist on the 100% owned project.” (Figure 3)  Figure 3: The location of the Talus prospect and other exploration targets overlain with radiometrics and rock sample geochemistry (Source: ASX release)   “Outstanding opportunity”   The Portland Creek Project represents an “outstanding opportunity” with the company recently expanding its tenure by 58% to 113 square kilometres.  Moreover, Uranium is one of the 34 critical minerals listed by the Newfoundland Government and as such, the company will be eligible to apply for Junior Exploration Assistance (JEA) grants up to CAD$150,000 for future greenfield exploration activities.  Newfoundland was ranked as one of the top 10 mining investment jurisdictions by the Fraser Institute’s latest annual survey of mining companies and is known to be in favour of uranium exploration.  About Portland Creek   The Portland Creek Project is situated in the Precambrian Long-Range Complex of the Humber Tectonic – Stratigraphic zone.   These members include metaquartzite and a suite of paragneisses, intruded by leucocratic pink granite, which have likely been thrust westwards over Palaeozoic carbonate-dominant sediments.   The claims are situated over a large regional uranium anomaly that was identified in the 1970s by a Newfoundland government stream sediment sampling program.   There is one uranium showing on the property as listed in the Newfoundland Mineral Deposit Index inventory with 2,180 ppm U3O8.  Lithium targets at Paterson Lake   Early last month, Infini identified three major greenstone corridors of interest ~6 km, ~6km and ~5 km in length at its Paterson Lake Lithium Project in Ontario.  Subsequently, the company delineated 40 microgravity targets interpreted to be LCT pegmatites.  Microgravity survey results show excellent correlation with existing lithium trends and may be used to successfully predict extensions to existing mineralisation and new lithium-bearing pegmatites under soil and vegetation cover.  Follow-up exploration includes focused geological mapping and infill soil sampling to identify new outcropping mineralised pegmatites in combination with diamond drilling along strike targets.  Figure 4: Location of the Paterson Lake Lithium Project depicting the microgravity survey locations overlain with 1VD drone magnetics, MMI soil sampling, mineralised outcropping pegmatites and historical drill hole mineralisation (Source: ASX release)   Samso's Thoughts Infini is one of the many companies that are applying their trade in Canada as they seek greater pastures. The lack of funding for companies on the TSX-V or TSX has given many ASX companies the opportunity to get access to projects that are not available in Australia or any other hunting grounds that are commonly visited by ASX companies. The storyline is that the Canadian projects are better and the administrative pathway is simpler which is true in some cases. I am not a lithium bull as I don't think that the market can sustain the hundreds of aspiring players in this space. However, I do like uranium. Uranium in Western Australia has an added upside in the potential policy changes to allow uranium mining in Western Australia. This may be a risk, a calculated risk or not, but the narratives in Australia and that of Western Australia appears to be softening. If this is the case, then this will be a boost to companies like I88 with their uranium projects. This does not mean that it is an automatic boost as I88 still needs to have a project that is worthy of mentioning. Only time will tell if this will be the case. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

The global commodities market is witnessing notable changes, with significant price movements in copper and tin, signalling a potential shift in investment trends within the resources sector.   Copper, traditionally seen as an economic health indicator, has broken free from its previous price stagnation.   In the tin market, there is a quiet yet significant ascent in prices, reflecting its strategic importance, especially in the technology sector where it is used for soldering in circuit boards.  The International Tin Association has emphasised the urgent need for substantial investment in tin production to meet the forecasted demand surge, estimating a requirement of US$1.4 billion to augment annual tin output by 50,000 tonnes by 2030.  Furthermore, the price increase in tin is influenced by geopolitical tensions and production issues in major tin-producing areas, highlighting the metal's critical role in the global supply chain.  Tin prices have rebounded to around US$28795 a tonne, a 9.10% increase since the beginning of 2024, primarily due to threats to supplies from key producers and the demand outlook turning positive (Figure 1).  Figure 1: Tin prices (Source: Trading Economics)   In the spotlight: Venture Minerals   In the spotlight is Venture Minerals ’ Mount Lindsay Project in north-western Tasmania, hosting one of the largest undeveloped tin projects globally and boasting over 80,000 tonnes of tin metal and a significant tungsten resource.  Its strategic importance is amplified by the Australian Government's enhanced focus on critical minerals, demonstrated by the expansion of the critical minerals’ facility to A$4 billion and the inclusion of tin in the new strategic materials List.  Consequently, the Australian Government has recognised the project as a critical minerals project, underscoring its national and global significance, especially in light of the burgeoning demand for metals crucial to the technology and energy sectors.  This governmental support aligns with the growing acknowledgment of tin's vital role in the battery revolution and new technological applications (Figure 2)  Figure 2: Metals most impacted by new technology (Source: International Tin Association)   About the project   Venture owns 100% of the tenure that hosts the Mount Lindsay Tin-Tungsten Deposit and the surrounding prospects.   The project sits between the world-class Renison Bell Tin Mine (Metals X Ltd/Yunnan Tin Group) and the Savage River Magnetite Mine, which has been operating for more than 50 years, currently producing approximately 2.5 Mtpa of iron pellets (Figure 2).  Mount Lindsay has excellent access to existing infrastructure, including hydropower, wind power, water, sealed roads, and rail and port facilities.  The Mount Lindsay deposits and the surrounding exploration target areas are all defined as skarn-style mineralisation and are closely analogous to well-known large skarn deposits in Russia and China, which contain the same borates that exist at Mount Lindsay.  Figure 3: Location map of Mount Lindsay Tin-Tungsten Deposit, Riley Iron Ore Mine & Livingstone DSO Deposit. (Source: Venture Minerals Limited) Moving forward    Venture has engaged Curtin University to kick off the next stage of metallurgical test work on the Mount Lindsay tin-rich borates.  The program will investigate the extraction of tin, boron, and iron from tin-iron borates, potentially significantly increasing the tin recovery and producing a high-value boron by-product, resulting in another revenue stream for the Mount Lindsay project (Figure 4)  Venture believes the inclusion of tin-rich borates into the current Underground Feasibility Study could deliver a major economic benefit, through the recovery of boron and additional tin and iron.  Boron is now included in the European Commission’s Critical Raw Material Act and is considered vital to the green energy transition.   In addition to boron’s use in solar panels, up to 50kg of boron material is required in the construction of Electric Vehicles.  Figure 4: Mount Lindsey Geology map (Source: Venture Minerals Limited) A word From Samso The Venture Minerals story is one that is well known to anyone who has been following the Coffee with Samso  series. Andrew Radonjic, the Managing Director of Venture Minerals has been a recurring guest on the Coffee with Samso series of videos. Coffee with Samso: Venture Minerals Limited (ASX: VMS) - Jupiter REE Deposit: April 2024 Update Venture Minerals Limited (ASX: VMS) - Jupiter REE Deposit: the next Mt. Weld? Venture Minerals Limited (ASX: VMS) - A Different Australian Rare Earth Story - The Jupiter Project. The Mt Lindsay project has been the main focus for the company and there is a great amount of value in the project. The tin price falling back from a sharp rise in 2022 (Figure 5) has given tin companies a shock to the system. However, there does appear to be some resemblance of a recovery. Figure 5: Tin prices over a 25-year range in USD/T. (Source: Trading Economics) The consensus within the commodity and mining fraternity is that the next boom in pricing is near and the next growth will be more sustainable. I am one with these narratives and I do feel that the next period of growth will be from the "New Age" related metals. I don't want to call them EV metals as I am a firm believer that the metals that will make a difference in the new Clean Energy Environment are the metals that have been largely ignored during the "lithium" time. My thoughts are that the new age metals are all about the new technology and a revolution to go from the "Old Ways" to the "New Ways" in terms of transportation and infrastructure. The need to be more efficient is also going to be a driver in terms of stronger and lighter materials etc. If the tin price starts to come back, Venture is going to have two fronts running in the New Age environment. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

The Puxiong deposit in Southwest China represents a significant shift in the exploration of regolith-hosted rare earth element (REE) deposits, traditionally dominated by granites and felsic volcanic substrates. Recent discoveries and studies, such as those at Puxiong, underscore the potential of silica-undersaturated alkaline igneous rocks like nepheline syenite in contributing to REE resources [1].   Geology and mineralogy of the Puxiong deposit Located in Southwest China, the Puxiong deposit is notable for its formation through the weathering of nepheline syenite, which has undergone partial hydrothermal enrichment in REEs. This syenite registers REE concentrations that range dramatically from 177 to 9,336 parts per million (ppm). The mineralogical composition includes significant percentages of REEs hosted in minerals such as britholite-(Ce), tritomite-(Ce), and cerite-(Ce), which collectively contribute to approximately 60% of the total REE content. Additional REEs are found in secondary minerals within the K-feldspar and less abundantly in other minerals like titanite and hiortdahlite. Figure 1: Puxiong Geology (Source: Economic Geology)   Weathering and REE Mobilisation The weathering process is critical in the formation of regolith hosted REE deposits.  At Puxiong, REEs are released from primary minerals into soil solutions. Subsequently, they adsorb onto clay minerals or precipitate as supergene phases such as rhabdophane. The clay minerals, particularly illite and halloysite, exhibit higher ion exchange capacities than those derived from granitic sources, enhancing their ability to capture and concentrate REEs. Figure 2: Photographs of the regolith and parent nepheline syenite (Source: Economic Geology) Spatial distribution of REEs   The spatial distribution of REEs within the deposit reveals that the highest concentrations of heavy REEs (HREEs) occur at the footslope, averaging 110 ppm.  Meanwhile, the lighter REEs (LREEs) are more abundant in the B horizon at hilltops.   This distribution pattern is influenced by the topographical features and the mobility of REEs within the weathering profile, driven by groundwater and soil solutions.    Strategic Significance and Environmental Considerations   REEs are increasingly crucial due to their applications in high-technology and defence industries.   The ease of mining and processing regolith-hosted deposits, such as those at Puxiong, offers a strategic advantage over more conventional hard-rock mining methods.  Moreover, the development of new mining technologies, such as electrokinetic mining, promises to enhance REE recovery while minimising environmental impacts.  Global Implications   The Puxiong deposit provides a new perspective on the potential for nepheline syenite-derived regolith-hosted REE deposits.  it also invites further exploration and study in other regions with similar geological settings.   Understanding the geochemical behaviour of REEs in these unique environments can guide future exploration and exploitation strategies, potentially leading to the discovery of new economically viable deposits.  Conclusion   The study of the Puxiong REE deposit not only expands the geological understanding of regolith hosted REE deposits but also underscores the importance of alternative sources for these critical materials.   As global demand for REEs continues to rise, the insights gained from Puxiong and similar deposits are crucial for securing a sustainable supply of these indispensable elements.  Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience ------ References:   [1} Min Wang, Martin Yan Hei Li, Mei-Fu Zhou, Jia-Xi Zhou, Guotao Sun, Ye Zhou, Yin Li; Enrichment of Rare Earth Elements During the Weathering of Alkaline Igneous Systems: Insights from the Puxiong Regolith-Hosted Rare Earth Element Deposit, SW China.  Economic Geology  2024;; 119 (1): 161–187. doi:  https://doi.org/10.5382/econgeo.5024

Founded in 2004 by Peter Van Der Made, BrainChip Holdings Ltd  (ASX: BRN) stands out as an innovative force in the artificial intelligence (AI) landscape, especially in the realm of neuromorphic computing. The company claims to be the world's first commercial producer of neuromorphic processors that can mimic the way the human brain processes sensory inputs. Over the past six months, BrainChip shares have appreciated more than 70% backed by the company’s renewed focus on the Edge AI “explosion” (Figure 1). The company’s shares are currently trading at A$0.29 with a market cap of $A517 million.     Figure 1: BRN share price chart (Source: ASX.com )   Cutting-edge products set the stage   At the core of BrainChip's product line are the MetaTF development environment and the AKD1000 neuromorphic processor (Figure 2).  MetaTF facilitates the training and deployment of spiking neural networks (SNNs), accommodating a broad spectrum of data inputs, such as images and videos, across diverse applications like security and industrial automation.  The AKD1000 processor itself is a marvel of engineering, featuring 1.2 million artificial neurons and 10 billion synapses, which operate on an event-based processing paradigm.   This design ensures highly efficient data processing with minimal power consumption, making it ideal for edge devices.  Figure 2: Brainchip products. Expansion and Evolution   Throughout 2021 and 2022, BrainChip expanded its market reach by launching development kits for its Akida AI processor and forging strategic partnerships, including a notable collaboration with NVISO and incorporating the Rochester Institute of Technology into its University AI accelerator program.  2023 marked a significant transition, fueled by industry shifts towards generative AI and fluctuating market demands. Despite these challenges, BrainChip seized the opportunity to advance its technology and enhance its market positioning.   The launch of the AKD1500, a refined reference chip design, underscored the company's commitment to maintaining a competitive edge.  What is Edge AI?   Edge artificial intelligence (AI) refers to systems that process and analyse data at the site where it is generated, rather than transmitting it to a centralised server or cloud for processing.   This approach is used in devices that operate at the "edge" of the network, such as smartphones, industrial robots, or Internet of Things (IoT) devices.   Edge AI has the advantage of reducing latency, as the data does not have to travel over a network to a data centre.  It enhances privacy, by processing sensitive data locally rather than sending it to the cloud; and it can reduce bandwidth requirements and operational costs.   Common applications include real-time data processing in autonomous vehicles, on-device speech recognition, and security systems.  Strategic Strides in 2024   In 2024, BrainChip's strategy pivoted towards capitalising on the burgeoning demand for Edge AI, which promises optimised, cost-effective computing solutions tailored to specific applications, from automotive to consumer electronics.   The company's proactive approach is evident in its expansion into new sectors such as SpaceTech and Healthcare, driven by a blend of strategic partnerships and innovative product development.  BrainChip's leadership, underpinned by the arrival of Dr Anthony Lewis as the new CTO, a neuromorphic technology trailblazer, is focused on harnessing the potential of Temporal Event Based Neural Nets (TENNs) and other advanced features.   This strategic direction not only aims to elevate the company's technological footprint but also to fortify its standing in a competitive market.  A Future Shaped by Agility and Innovation   The ongoing transformation within BrainChip reflects a broader industry trend towards agile, adaptive business models that prioritise rapid innovation and market responsiveness.  By investing in domain-specific expertise and fostering robust industry partnerships, BrainChip is not just reacting to market trends but actively shaping them.  This strategy extends beyond technology development to encompass comprehensive market engagement, ensuring that BrainChip remains at the forefront of the AI revolution.  Robust Foundation    BrainChip's journey began with a pivotal acquisition by Aziana, an Australian mining company, in March 2015, which subsequently led to a reverse merger placing BrainChip on the Australian Securities Exchange.   This strategic move was complemented by leadership shifts, with Louis Di Nardo stepping in as CEO and Van Der Made transitioning to Chief Technology Officer.    The company's focus then sharpened on commercialising Van Der Made's pioneering AI processor hardware concept.  In Conclusion   As BrainChip stands poised at the brink of a new era in AI and computing, the journey from a visionary concept in 2004 to a market-driven enterprise in 2024 highlights a saga of perseverance, innovation, and strategic acumen.   With a solid foundation and a clear vision for the future, BrainChip is set to redefine the boundaries of what is possible in the AI domain, ensuring its place as a leader in the Edge AI revolution.  Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors. ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

I have known about Cobra Resources Plc 's story for a while, but as they are listed in the UK, it is hard to learn what they are doing to advance their projects in Australia. The gold explorer turned Rare Earth player has some interesting points for their Rare Earth story. I met Rupert Verco at the beginning of 2023, and he struck me as a guy who had a firm understanding of his project in South Australia. He has a good view of the direction his REE project needs to take and the technical milestones. As I am always learning and turning myself into an expert by talking to industry experts, I was impressed to learn his thoughts. The Rare Earth industry is unique, and I am sure to many investors, as it is a new concept (for us anyway) and it isn't very easy. Market dynamics are not simple, and they are changing beasts. What is Cobra Resources story? Cobra Resources is a UK-listed exploration company focused on advancing the discovery of the Boland ionic REE. It is currently Australia’s only ionic rare earth project within situ recovery (ISR) potential. Through ISR, we aspire to define a magnet and heavy REE project that can be cost-competitive with the Rare Earth Mines of China. Over the last two years, the company has been advancing the Wudinna project, located in the Gawler Craton in South Australia. Two years ago, we identified rare earth elements (REEs) within Saprolite directly above our defined gold resources. As we worked to grow the gold resource, which now sits at 279,000 ounces, we spent much time understanding the geological, chemical, and environmental catalysts that influence REE mineralogy. Through this work, we identified relationships between mobility and acidity that had some influence on metallurgical recovery. We re-tested a significant number of historic drill samples, which enabled us to define a complimentary 41.6Mt REE resource that overlies the existing gold resource. Through considerable testing, we determined the primary enrichment of REEs and demonstrated relationships between chemistry and secondary enrichment in saprolite clays. Last year, we tested an alternate model for ionic REE, believing they could achieve superior metallurgy under different geological conditions without overcoming costly metallurgical processing challenges. The Boland prospect is a younger Palaeosystem that hosts interlayers of permeable sands and reduced, organic-rich clays. Drilling in 2023 confirmed grades within these sediments with heavy rare earth enrichment. Subsequent Metallurgy testing by ANSTO yielded recoveries of magnet REEs of up to 79% Tb, 67% Dy, 60% Nd and 47% Pr via a simple AMSUL wash at a pH3, confirming the ionic nature of mineralisation. What challenges do you face regarding your REE strategy, and how do you plan to overcome them? Cobra’s strategy is to focus on three key components that will demonstrate the value of the boland discovery: scale, grade concentration, and in-situ recovery. Scale:  We are re-assaying historic uranium-focused drilling for REEs. This demonstrates ionic REEs across massive scales within these paleo systems and enables us to identify higher-grade targets over our >4,000km3 landholding. Grade Concentration:  Initial results support high grades concentrated within or in contact with geology with high permeability. This is important as it enables efficiency in insitu mining and reduces acid consumption. Derisking mining via ISR:  Earlier this year, we completed a sonic core programme to improve our understanding of mineralogy and the geology's amenability to ISR. We were so encouraged by what we saw that we screened and cased the holes in a wellfield configuration (see Figure 1 below). We are currently gathering environmental and hydrology data from these holes to support an infield pilot ISR study—a world first. Figure 1:   Overview of the wellfield infrastructure that is intended to be used for a near term ISR pilot study. We currently have core samples at ANSTO, who are performing column leach tests under ISR conditions. These tests will go a long way toward demonstrating the value of ISR and enabling us to commence the process of defining a flow sheet to produce a saleable product. We plan to partner with water-cycle technologies and their membrane desorption technology. Figure 2: Mineralised core from recent sonic drilling, where high grades occur within highly permeable geology amendable to cost-effective in-situ recovery mining.   Which exchange are you listed on in the UK? What are the advantages of listing in the UK, and what are the challenges? UK main market listed – Our advantage is that we are the only ionic rare earth company listed in the UK, which gives us good reach into Europe. Our challenge is that liquidity and investment into mining equities within the UK have not had the same success as ASX-listed resources stocks in the last ten years. Our market valuation hasn’t had a re-rate on the back of the Boland discovery comparable to the market success of the Brazilian-focused companies. We hope to address this by delivering exploration success that yields scale, concentrated grades and de-risks in situ recovery.                                                                                                                                                                                                                                                                                                                       Can you give us a Geology 101 on your REE project? The project sits within the southern Gawler craton – Hiltaba suite intrusives are directly related to IOCG mineralisation. We spent a lot of time understanding the process and mechanisms for ionic rare earth mineralisation. This was gained through identifying REE enrichment within Hiltaba suite granites, the catalysts for mobilisation, and the chemistry that promoted enrichment within clay horizons. Figure 3: Cobra's geology model for paleochannel hosted ionic rare earth mineralisation – where mother nature has completed the expensive process of hard rock rare earth extraction and mobilised valuable REEs to an accessible storage bank, allowing for a simple and cost-effective withdrawal What we found within the saprolite: There were correlations between REE enrichment and changes in acidity/alkalinity; however, there was little improvement in ionic desorption metallurgy. REEs were not present in highly acidic saprolites. The primary and secondary bearing REE mineral phases were low in quantity, and therefore, the majority of REEs were likely colloidally bound within clays. This leads us to theorise that: REE mineralisation within kaolin saprolites was unlikely to be retained in ionic phases under current environmental conditions. Due to extremely acidic ground waters, REEs were likely mobilised elsewhere. Younger sediments hosted within the Paleosystems were likely anoxic, had large changes in chemistry, and retained the right conditions for REE mineralisation in ionic form. Are there other commodities in your portfolio? A 279,000 Oz JORC gold MRE overlain by a 41.6Mt 699ppm TREO clay-hosted REE JORC MRE. There is 4km of defined sandstone-hosted Uranium at the Yarranna SE prospect, where there are numerous intersections above 500ppm U3O8. What is the News Flow for Cobra for 2024? Sonic Core drilling results (March) Modelling of Mineralised Scale (March) Re-analysis of 240 historic drill samples (April) confirming scale at Boland ISR column leach tests (ANSTO) late April-May Additional historic drill hole re-analysis  (May) Aircore drilling – Resource focused (June-July) What can you say to convince investors to position themselves in Cobra Resources? Cobra has demonstrated technical excellence in discovery while diligently using capital and preserving its share value through tight placings and sourcing non-diluting funding. We have de-risked ionic metallurgy, with initial metallurgical results comparable to highly valued Brazilian ionic projects (such as the Meteorics Caledria project). By demonstrating Scale, Grade Concentration, and in situ recovery, we believe we can demonstrate the world-class significance of this new style of ionic rare earth mineralisation as a low-cost, environmentally superior source of heavy and magnet rare earths. Unlike Meteoric, the valuation upside to this discovery has yet to be realised! A Word From Samso Cobra is very different from the typical Rare Earth story that is currently being told. Readers will know that Samso has a few clients in the REE industry, and over the last two years, they have been evolving in many ways. I have learnt that every project has a different component that makes it different. The Clay Rare Earth scene is relatively young for the industry. China has been working on these deposits for a while, but the flow of information has been limited. We also understand that the extraction methods in China are not best practice and will never pass the environmental test in our jurisdiction. To top all that off, the Chinese market is pretty much controlled, and it is the kingmaker for the REE market to the world. Recently, the world has woken up to the need for a second source of raw REE, which has created more confusion. There appears to be a knight in shining armour, but people can't seem to feel that the knight is there permanently or that perhaps it's a mirage. There is an increasing demand for REE, so there must be a source for these materials. Like all commodities, the supply needs to meet demand. There is no such thing as something so rare that demand will drive pricing to high levels. There is a thing called affordability, which I feel is the overwhelming driver for the equilibrium of demand vs. supply. Affordability is also the driver for the question of for economic viability, a deposit needs to become viable. What Cobra is proposing and driving towards may be the difference between the Cobra deposit and those promoting better numbers. Time will tell, but this allows potential investors like us time to DYOR. Cobra will need to raise more money to operate, and I would assume that, based on Rupert's comments, a listing on the Australian Stock Exchange (ASX) looks to be on the table. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

Sun Silver Rises on ASX Debut as Maverick Springs Shines Fresh from its IPO, which raised A$13 million, Sun Silver Ltd (ASX: SS1) is pushing forward with its Maverick Springs Silver-Gold Project in Nevada. The project boasts an inferred mineral resource of 292 million ounces of silver equivalent, positioning it as one of the largest silver resources on the ASX. Since listing, Sun Silver’s shares surged 175%, reflecting investor confidence. The company’s immediate focus includes resource development through infill and extensional drilling, aiming to upgrade the resource classification and expand the current resource. Nevada’s top-tier mining environment reinforces Sun Silver’s strategy, especially as global demand for silver, driven by industrial uses like solar energy, continues to grow. For investors keen on silver’s critical role in renewable energy, Sun Silver’s well-positioned assets offer an exciting opportunity. Sign up for your membership on Samso Insights on Patreon now to learn more. Three types of membership on Samso Insights Choose one or more: FREE: These insights are free and available to all investors. Subscribe here for free. PAID MEMBERSHIP: If you are a bold investor and want more, you get access to the latest and most reliable information from experienced sources that are completely unbiased starting from US$10/month. Start accessing our exclusive content to help with your investment research. PAID ARTICLES: Trustworthy source of well-researched and independent information for investors. Choose what interests you and unlock your choice of article from US$10. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

Ordell Minerals: A New Opportunity in a Bearish Market Ordell Minerals Ltd is aiming to raise up to A$6 million through an IPO, targeting gold, lithium, and base metal exploration in Western Australia. The funds will focus on advancing the Barimaia JV project, a strategically located gold exploration asset, alongside new ventures like the Goodia and Fisher South projects. The company is led by a seasoned board, including key figures from Genesis Minerals, renowned for their track record of value creation in the mining industry. With exploration set to begin shortly after ASX listing, Ordell is poised to capitalize on its prospective assets and experienced leadership. Need support with Doing Your Own Research? Sign up for your membership on Samso Insights on Patreon now. Three types of membership on Samso Insights Choose one or more: FREE: These insights are free and available to all investors. Subscribe here for free. PAID MEMBERSHIP: If you are a bold investor and want more, you get access to the latest and most reliable information from experienced sources that are completely unbiased starting from US$10/month. Start accessing our exclusive content to help with your investment research. PAID ARTICLES: Trustworthy source of well-researched and independent information for investors. Choose what interests you and unlock your choice of article from US$10. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

Could Siguiri be the "Safe" investment for Investors? Siguiri Gold Corp, an African-focused gold explorer, is preparing for an ASX listing after launching an IPO to raise between A$8 million and A$10 million. The funds will accelerate the development of its exploration permits in the highly prospective Siguiri Basin, Guinea, which is part of the gold-rich Birimian Greenstone belt. The company is led by an experienced management team and has completed significant drilling, with promising high-grade gold intersections. Dive deeper into the risks and potential of this near-mine story—ideal for those looking for strategic gold investments in emerging markets. Eager to dig deeper into this story? Sign up for your membership on Samso Insights on Patreon now. Three types of membership on Samso Insights Choose one or more: FREE: These insights are free and available to all investors. Subscribe here for free. PAID MEMBERSHIP: If you are a bold investor and want more, you get access to the latest and most reliable information from experienced sources that are completely unbiased starting from US$10/month. Start accessing our exclusive content to help with your investment research. PAID ARTICLES: Trustworthy source of well-researched and independent information for investors. Choose what interests you and unlock your choice of article from US$10. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

Coffee with Samso Episode 199 is all about the meaning of Critical Minerals for Australia. Are we spending the right amount of money? The low-emission world loves these two words and in resource-rich Australia where we are world leaders in supplying the feedstock for the world, are we sheep or should we start to be smarter with our fund allocation? Should we play our own game and be one controlling the weather and be smart with our resources? Should we be asking, are all metals critical and who are the beneficiaries of the critical nature of these metals? Should Australia be a more important part of the future Clean Energy Revolution? In today's episode, we talk to a man who gives us thoughts to ponder and maybe actions to take. Are all metals critical and what does critical really mean? Do we look at the real meaning and outcome of the term Critical Metals? Tim Craske is here because I read his abstract for the recent AUSIMM Conference on Critical Minerals. Australia’s list of critical minerals all occur in abundance. As a nation of suppliers of raw materials, are these metals critical at all for Australians? Or are they just critical for the commodity markets that we deliver into? As we have seen recently with external pressures on commodity prices, lithium and nickel can be critical EV battery components yet be subject to more cyclical price volatility than major metals. This makes Australian scoping and feasibility studies fragile, and investors nervous. According to Tim, by taking a complex-systems thinking approach to modelling these new resources, we can have better outcomes. However, a systems-thinking approach will only be truly transformational if we develop downstream processing and manufacturing industries here in Australia. This is described by CSIRO as a “once-in-a-lifetime opportunity” to reinvigorate our manufacturing and technology sectors. Get yourself a coffee or your favourite beverage and watch or listen and see if Tim Craske makes any sense: Chapters: 00:00 Start. 04:00 Introduction. 04:46 All about Tim Craske. 07:11 Did Western Mining influence your thinking today? 09:38 What does Critical Metals mean to Tim Craske? 10:39 Australia's List of Critical Metals is too long. 11:54 The problem with the Critical Metals List - Not Everything is Critical. 12:27 The One and Only Critical Metal - Copper. 13:09 Is Coal a Critical Metal? 13:42 The UK Coking Coal Public Impression. 15:07 The Disconnect of the Carbon Footprint Discussion. 16:07 Changing Lithium Story. 16:42 Why Australia should recreate the Iluka Anomaly. 17:10 Understanding the Long Term Marginal Lithium Market. 18:55 Should Australia adopt an Indonesian model of investing a Downstream Process? 20:59 What is Australia willing to do to compete? 21:27 Do you think the recent discussion of banning "Dirty" nickel could happen? 22:40 An example of why banning "Dirty" Nickel will not work. 24:30 What should Australia be focusing on? 26:11 Understanding the China - Chinese Competitive Business Strategy. 27:24 Why does ASEAN embrace China while the West has an Anti-Chinese Perception? 29:48 Is there a colonisation concept being played out in the Critical Metals Story? 31:08 Where should Australia focus on with Critical Metals? 33:37 Mining of Copper is not that Green. 34:27 Nett Zero Emission. 35:30 Is Zero Emission a Fantasy? 36:48 The Indonesian Nickel Business. 38:00 What would Nuclear Power do for the Australian Mining Industry. 38:35 Should Australia chase Tier 1 projects for sustainability of the industry? 40:53 The Power of Tier 1 Deposits. 41:57 The Need for Governments to be more Understanding on the Process of Mining. 42:35 Can Small Explorers explore Tier 1 Deposits? 44:02 The lack of New Mines. 45:34 Raising money from the market to test geological concepts is hard. 47:06 Can Australia develop a Downstream Resource Industry? 51:05 Difficulties of the REE Industry. 51:53 What could spark a mineral exploration bull run. 54:26 China needs Critical Metals more than anyone else. 55:09 Understanding the Chinese Thinking. 55:40 The Government Loan is a Red Herring. 56:30 Dangers for the mining industry with regards to the way we treat Critical Metals. 57:12 Tim's last words. 59:22 What weather will do to solar and wind farms. 59:54 The Nuclear Solution. 1:00:33 Conclusion. PODCAST About Tim Craske Tim Craske is a skilled and successful mineral explorer and mentor with over 40 years’ experience in project generation, exploration management and technical innovation gained in Australia, North and South America, Asia and East Africa. He spent his first 20 years with WMC Resources during which he discovered the Ernest Henry and E1 iron oxide copper-gold (IOCG) deposits in the Cloncurry district, northwest Queensland. He was also involved in the targeting of the West Musgraves province for copper and nickel pegging the core licences on which all the deposits (Nebo, Babel and Succoth) have been found. Since leaving WMC Tim has worked in both the junior and major company sectors including Exploration Manager for Sirius Resources up to the establishing of Nova as a prime prospect. General Manager Exploration Consulting at Vale and Exploration Manager - New Commodities at Iluka Resources. Tim Craske is Managing Director and Chief Facilitator for Thinker.Events and also a director of Thinkercafé.org that specialises in developing innovative thinkers, thinking organisations, and disruptive technology solutions for industry, education and government sectors. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso Samso ASX stories are also through the Brilliant-Online channels. Subscribe to Brilliant Investments.

Coffee with Samso Episode 172 is with Julian Ford, CEO of Riversgold Limited (ASX: RGL). Riversgold is blessed with good fortune, finding a Lithium deposit in an old fashioned way of mineral exploration. Riversgold has been pursuing their Tambourah Lithium project earnestly. Investors need to understand why there is a need to pay attention to this minnow in an exciting sector of the EV market. What may differentiate Riversgold from their peers is kind of complex. The Riversgold Story Interview with Julian Ford The Equity Market and why companies like Riversgold should be on your trading screen The Lithium Price Journey - The economic viability of a lithium project is more important now Samso's Conclusion The Riversgold Story Why do I like the Riversgold story? It is one of the few exploration companies that are actually doing some real exploration. When you look at the companies that are out there exploring for lithium, you will be very surprised to find one that is actually exploring. What I mean is that the majority, if not all, of the stories out there are ones where they have found a pegmatite on the surface and then drilled with discovery almost handed to them. These are the benefits of having low hanging fruits. I am not saying that this is a liability. What I am implying is that not everyone is blessed with such good fortunes. Figure 1: Riversgold Bengal Prospect within the Tambourah Project in the Pilbara Region of Western Australia. Riversgold seems to have gone that extra step to explore for the economic grades of spodumene. During the interview, Julian talks about how they are realising that they may be too close to the granite source. The mineralisation may be more fruitful further. The drilling intercept from TMBRC003 (listed below) is what lays hidden below the surface. TMBRC003 (See Figure 1) intersected: 14m @ 0.50% Li2O from 15m to 29m downhole including 1m @ 1% Li2O from 18m down hole Applying a 0.5% Li2O assay threshold cut-off within the 14m downhole intersection, two smaller intersections of 4m @ 0.9% Li2O from 17m to 21m and 3m @ 0.6% Li2O from 25m to 28m downhole were identified reflecting zonation of Li2O grade within the pegmatite unit. When you watch today's Coffee with Samso, you will hear Julian Ford talking about a systematic process in trying to find an economic deposit. Readers must remember that the easy pegmatites have now all been discovered. What lies underneath in the depths of these projects will be the next prize. The lithium industry in Australia, the real spodumene discovery is still young. The Riversgold's story is one that has developed from concept to what is now creating some credibility. This is the virtue of mineral exploration. The more you drill, the more confident you become in creating a dream into reality. I think Riversgold has come a long way since our first Coffee with Samso in October 2022. Riversgold Limited (ASX: RGL) - Vectoring into the next Lithium Discovery. Listen to Julian Ford here: Chapters: 00:00 Start 00:20 Introduction 01:05 What is Riversgold about? 02:59 Updates on Riversgold projects: Mt Holland. 04:27 Mt Weld. 06:45 Tambourah Lithium Project. 11:09 Hypothesis for finding lithium. 14:06 What should investors look out for as a parameter for grade and size? 15:16 Thoughts on the current lithium market. 18:50 How should investors look at Riversgold? 22:25 How is Riversgold spending resources on their projects? 25:22 Comments on doubts about the demand of lithium. 27:21 News flow. 28:26 Why RGL? 31:16 Conclusion While companies are drilling for minerals, investors can drill for information. Keep reading and build your knowledge for your DYOR. The Equity Market and why companies like Riversgold should be on your trading screen. Investors in the Australian Stock Exchange (ASX) are spoilt with companies that are promising the lithium prize. In the last two years, lithium stories dominated and commanded a lot of attention. The rush meant that investors were washed with stories and that made it hard to differentiate good from bad. To add salt to the wound, it also meant that investors could not tell what is a realistic potential and what is a pipe dream. Figure 2: Riversgold share price chart. (Source: Commsec) Let's get some context to the current market condition before we get into the Riversgold story. Historically, the small-cap market has been notorious for promising more than delivering and the last two years (since COVID) have been exemplary. If I am not mistaken, over AUD $1 billion has been raised in the small-cap commodity space (Figure 3). As I write today, investors have suddenly been thinking that this was normal and the bull run would last a long time. They are fundamentally not incorrect. The market may be slow and not responding, but the commodity pricing is still strong. The fundamentals are still solid. This move toward Clean Energy is not reversible. Figure 3: Top of the IPO market was in 2021. 2022 followed but it was greatly reduced as compared to 2021. What is bad is in 2015. If anyone remembers, 2015 was when every commodity was heading south. Even oil and gas was heading south. There was no equity appetite and there was no sight of when the commodity pricing would recover. What was worse was what was going to create the demand - the surge in demand that will spur a commodity bull run. Come back to 2023 and I believe that the main factor restricting funding is the rising interest rate. One can debate when the rates will pause and fall. What is sure is that there is nothing wrong with the commodity market. So the bearish tone in the market is most likely going to be temporary. The Lithium Price Journey - The economic viability of a lithium project is more important now. So the next part of this conversation is all about the Lithium pricing. As I mentioned, two years ago, Lithium was a word that could do no wrong. Companies that stumbled onto some "lithium pegmatites" or some pegmatites were able to raise money immediately. For me, there was always the need to discover an economic deposit. As an investor, I need to know if there is some resemblance of a chance to make that discovery. The market and the eagerness of investors is to ignore this and just go with the flow. My conservative thinking comes from the fact that I remember that it was not so long ago that the great Pilbara Minerals Limited (ASX: PLS) was almost broke. The lithium market had come to a point where Pilbara Minerals was the last man standing in Australia (See Figure 4). Altura Mining Limited which had a project adjacent to Pilbara Minerals and was the second in line for lithium glory was in administration and now has been consumed by Pilbara Minerals. (Source: https://seekingalpha.com/) As you can see in the chart below (Figure 4), it points to the steep rise in price and today, we are looking at almost a greater than 50% retracement. What is not obvious with the steep drop is that there is still no sight of a replacement for lithium in batteries where density of charge is concerned. If this is to be the case, then the price drop may be temporary and at worst rest a new path which at the current price, is still significantly higher than its low in 2021. Figure 4: Lithium Carbonate price chart (Source: Trading Economics) What this means is that the future for lithium is still bright but you better make sure your deposit is good. I think that the future lithium project has to be back to basics, meaning it needs to have the same economic parameters like every other project. Samso's Conclusion The Lithium sector is one of the most intriguing stories to comment. The demand for lithium cannot be dismissed and taken for granted. There is no shortage of narratives that tell investors that there is an endless demand for the metal. There are a lot of potential alternatives to lithium batteries but they are too slow and they cannot compete in the density of charge factor. So there seems to be a clear pathway for lithium to dominate proceedings in the future. Hence, companies are all pushing the lithium song. However, when you look at what kind of projects are being marketed, investors should start asking pertinent questions on the viability and the reality of extracting the metal economically. Lithium is not an anomaly. It has its place like every other commodity that has ever been mined or sucked out of the reservoirs. We have moved from horse carriages to hydrocarbon infused vehicles and are now moving into electrical automobiles. These paraphilias are all not immune to the simple demand and supply requirements. Price actions determine all matters that affect the viability of the project. Hence, for me, if one is investing for a market volatility (always short term) then please forgive my thoughts. For those that are looking at long term actions, then the reality of finding an economic viability is important. In my opinion, what I am seeing and hearing from Riversgold seems to be in step with building the long term story. It is easy to look at management and say that just because they failed before, they will fail again. But ask any well aged investor and they will tell you the old story of Great Fortunes falling to Great Failure and Great Failures turning to Great Fortunes. Hence, in the case of Riversgold, they have said and done the things when we first met them in October 2022. So there is no reason to doubt their next move. Management looks good and the old team of David Lenigas and Ed Mead has returned. Some have made money from this team and some have lost. So time will tell. PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About Julian Ford Chief Executive Officer Mr Ford has 30+ years experience in the mining industry with global experience including Australia, Africa, South East Asia and South America. Mr Ford has held senior positions within several major resource companies including Alcoa, British Gas, Western Metals Limited. Since 2004, Mr Ford has focused on managing a number of successful start-ups, including transitioning a number of these from concept/exploration to production. Mr Ford holds a degree in Chemical Engineering from the University of Natal, a Bachelor of Commerce from the University of South Africa and a Graduate Diploma in Business Management from the University of Western Australia. He has been a member of the AusIMM for 20 years. About Riversgold Limited (ASX: RGL) Riversgold Ltd is an ASX-listed exploration company focused on discovering and developing large lithium systems in the world-renowned Pilbara and Yilgarn cratons of Western Australia. In early 2022, the Company acquired a suite of four lithium-prospective exploration tenement applications covering 164km2 in the Pilbara region. The key Tambourah Project is underexplored and has the potential to host a major lithium-caesium-tantalum system much like the nearby Pilgangoora and Wodgina deposits. Further, the Company has acquired a tenement package of 292km2 prospective for lithium in the Southern Cross-Marvel Loch region of Western Australia as well as securing an option to acquire 80% of tenement E77/2784 immediately to the east of the globally significant Mt Holland lithium project in the same region. The Riversgold portfolio also offers strong exposure to gold and nickel through its large landholding at the Kurnalpi Project in the Yilgarn. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. 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Coffee with Samso Episode 183 is all about the Brothers Rare Earth Discovery. Venture Minerals Limited (ASX:VMS) has made an exciting discovery in the Golden Grove district - a high-grade clay Rare Earth project that deserves attention. This project stands out due to its impressive depth of intercept and high-grade mineral content, placing it among the top-tier projects in Western Australia. The REE Journey begins for Venture Minerals Limited In April 2023, Venture Minerals announced the introduction of the Iron Duke REE project into the Brothers project on a Rooster Talk - Venture Minerals Limited (ASX: VMS) - Building a Rare Earth Portfolio in Western Australia. The REE story for the company was a slow build up over the last 18 months. Chapters: 00:00 Start 00:20 Introduction 00:57 High Grade clay hosted REE discovery at the Brothers Project 02:00 Reason for high grade 07:01 Direction of the Big Brothers Project 09:46 Is the Big Brothers Project the focus for VMS? 11:02 Discussion on metallurgy 11:57 How should investors look at VMS? 15:38 News flow 18:17 Why VMS? 21:13 Conclusion Rare Earth Market Status The rise or fall of the REE market pricing is one of the key indicators for the fortunes of the Rare Earth exploration sector. Currently, the market is experiencing a bearish price sentiment, causing anxiety among many investors. It is evident that the bear is no longer in hibernation. One cannot argue that the bear is out of hibernation. Many supporters of the bear fail to acknowledge that this market has emerged as a result of a geopolitical situation. In my opinion, the shifting focus of world politics has made metals like REE (rare earth elements) quite appealing. The future requirements for REE components will undoubtedly contribute to the growing demand in the market. As experienced investors are aware, the real profits lie in the long term. This is a widely recognised truth that is often overlooked by investors in the mining industry. The mining sector operates on a timescale of decades, rather than months or years. While there have been a few exceptional cases like Nova Bollinger (Ni) and DeGrussa (Copper) that have yielded results within a shorter timeframe, they are rare occurrences. What makes Venture Minerals a good bet? Venture Minerals excels at developing diversified projects that consistently generate value even in challenging circumstances. I have reiterated this sentiment multiple times during my Coffee with Samso session with Andrew Radonjic, where we discovered the hidden value in their various projects. Why and how do we continue to do this? This is where experienced management takes the lead. The Brothers project is a prime example of the value that can be achieved. Initially appearing as an outlier, through drilling, it has now emerged as a strong contender in the Rare Earth race. The Decarbonisation Problem The global community is determined to transition to clean energy usage, but the path ahead is expected to be challenging and time-consuming. Unfortunately, the progress towards this goal is hindered by a significant portion of the population that believes limiting mining activities is the key solution. The days of "Non-Decarbonisation" thinking are long gone. It's clear that we have embraced a new way of thinking. Let me share an interesting experience I had in South Australia. I recently had a coffee with someone who proudly shared how the state has successfully transitioned to renewable energy. It's inspiring to see how we are moving towards a more sustainable future. The transition towards a world with less reliance on 'dirty energy' is no longer a novel concept. It has become an anticipated and inevitable journey. Samso's Conclusion Andrew Radonjic has once again surprised us with his impressive skills. The Brothers project, which I initially believed had a high potential for success, has proven to be a remarkable endeavor. During our recent Coffee with Samso session, we delved into the project's historical drilling, which has added an intriguing element to its overall appeal. The two drill holes that were announced was into bedrock which would have suggested that there could be more to come. The recent release has made that thought come true. Is the Brothers project a standout? It's difficult to say at this point due to the unresolved metallurgical question. What I've gathered is that they will address this concern by demonstrating leaching. The amount of acid and other related factors will likely be the focal point of discussion. Will this be the catalyst that brings Venture Minerals back to its former glory days as a favourite among retail investors? I don't believe so, at least not right away. While the numbers are promising, the market is currently flooded with numerous rare earth element (REE) stories, making it difficult for Venture Minerals to stand out. It is crucial for the market to discern which projects will succeed and which will not. The previous debate between Ionic and Non-Ionic is no longer relevant, as we have emphasised multiple times. The discussion extends beyond just the Acid content. Currently, I understand that there are multiple projects that possess distinct qualities, which I believe set them apart. In the case of Venture Minerals, their uniqueness stems from their location (close to the new Lynas story), the grade of mineralisation, and the depth at which it occurs. Unlike typical REE areas, Venture Minerals does not face potential land issues. All these factors, in my opinion, makes Venture Minerals different. PODCAST About Andrew Radonjic Qualifications: BAppSc (Mining Geology), MSc (Mineral Economics), MAusIMM Mr. Radonjic is a geologist and mineral economist with over 35 years of experience in mining and exploration, with an initial focus on gold and nickel in the Eastern Goldfields of Western Australia. Andrew has fulfilled a variety of senior roles which gave rise to three gold discoveries, totalling in excess of 3 million ounces in resources and resulting in 1.5 million ounces being produced. Since 2006 Andrew has been an executive director with Venture Minerals, which he co-led during the discovery of the Mount Lindsay Tin-Tungsten deposit in North-West Tasmania. He is also a founding co-director of Blackstone Minerals and the non-executive Chairman of Codrus Minerals. About Venture Minerals Limited Venture Minerals Ltd (ASX: VMS) has refocused its approach to developing the Mount Lindsay Tin- Tungsten Project in northwest Tasmania, already one of the world's largest undeveloped Tin-Tungsten deposits. With the recognition of Tin as a fundamental metal to the battery revolution and Tungsten being a critical mineral, Venture has commenced an Underground Feasibility Study on Mount Lindsay that will leverage off the previously completed open-pit feasibility work, and recently included additional, potential large-scale quantities of tin and boron within the current resource base, and extensively throughout the greater Mount Lindsay skarn system. The tin-borates have not previously been assessed in any mining studies. Borate minerals contain a large amount of Boron, a critical mineral in the solar panel industry. At the neighbouring Riley Iron Ore Mine, the mine is prepared for a quick restart should the market conditions become favourable. In Western Australia, Chalice Mining (ASX: CHN) recently committed to the second stage of the JV which requires a further $2.5 million of expenditure over the next two years to earn a further 19% interest (for a total of 70%) in Venture’s South West Project. At the Company’s Golden Grove North Project, SensOre (ASX:S3N) is farming in whilst Venture retains the REE rights, the earn-in includes drilling of the Vulcan High Grade REE Target. SensOre’s proprietary AI technology has already highlighted lithium and copper exploration potential at Golden Grove North. The Company has a significant Nickel-Copper-PGE landholding at Kulin with two highly prospective 20-kilometre long Ni-Cu-PGE targets within the Kulin Project, whilst recent exploration has identified clay hosted REE targets. Share to Grow: Your Bonus eBook: How to add value to your Share Portfolio This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides). The eBook is about lessons on geological models sought by mining companies. It gives insight and an understanding of which portfolios are better - and potentially more lucrative investments. Click here to download this eBook. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. 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Embark on an odyssey into the world of Clay Rare Earths, a captivating journey through uncharted mineral potential. In today's Samso Insight Episode 114, we had the privilege of engaging with Dr. Diana Zivak, a distinguished Senior Geologist from the Geological Survey of South Australia. Dr. Zivak skillfully shares a wealth of knowledge that goes beyond traditional boundaries. Her articulate discourse invites viewers and listeners on a captivating journey as we explore information that resonates with the public. Dr. Zivak, an esteemed expert contracted by the Geological Survey of South Australia, has provided valuable insights into the Clay Rare Earths journey. Her observations have shed light on the remarkable qualities and limitless possibilities of this geological phenomenon. For followers of the Samso story, the hopeful excitement about the geological potential of South Australia is widely recognised. This episode of Samso Insights is an absolute treat for those who are into exploration and innovation. Explore the fascinating world of the Clay Rare Earths Story, where Chemistry and Geology intertwine to reveal new possibilities for progress and prosperity. Dr. Diana Zivak's groundbreaking work has revolutionised our knowledge of geological wealth, sparking curiosity among those who are uncovering the untapped potential of South Australia. Samso's Conclusion The Clay Rare Earth sector is an ongoing learning experience, with few claiming to have complete knowledge. Currently, the market serves as the ultimate judge of this sector's dynamics. Rising stock prices are seen as a sign of success, while falling share prices are viewed as unfavourable. The current knowledge is based on a measurement that may not be the most authoritative. According to Dr. Diana Zivak, the industry is uncovering numerous Clay Rare Earth projects, each with its own characteristics. These projects are not identical, resulting in different enrichment processes for each deposit. The complex terrain adds complexity to the search for the best project formula. West Cobar Metals, through its Salazar deposit, has identified Gallium, which could potentially be a precursor to other valuable by-products in the Salazar project. In my opinion, it is important to have faith and perspective when considering the long-term outlook for the REE market. I believe that maintaining a positive outlook for all commodities is crucial, especially considering the ongoing efforts towards decarbonisation. During our conversation, Dr. Diana Zivak and I explored the vast possibilities that exist in South Australia. This discussion is of great importance considering the limited amount of focused mineral exploration in this area. Despite valid historical factors, the potential for discovery remains untapped. The geological landscape of South Australia still holds many mysteries waiting to be uncovered. As the Geological Survey continues to release data, those who take early action have the opportunity to reap significant benefits. Chapters: 00:00 Start 00:20 Introduction 01:48 About Dr. Diana Zivak 06:17 Where is technology today in terms of the analytical part? 09:13 The clay hosted rare earths story 19:19 Is Geomorphology a factor? 25:22 Heavy rare earth metals 31:56 Discussion about the Gawler 42:22 Multi-commodity processing 45:14 Discussion about lithium in South Australia 49:55 Different mineralisation styles 53:02 Closing comments 56:05 Conclusion PODCAST About Diana Zivak Diana Zivak, an accomplished geologist with a decade of experience in academia and mining, specialises in diverse geological aspects including tectonics, geochronology, geochemistry, and mineral chemistry. Her proficiency extends to various analytical techniques such as laser ablation, ICPMS, and electron microscopy. Presently a postdoctoral researcher at the University of Adelaide, Diana is leading projects on REE enrichment in Queensland's phosphorites and provenance analysis of Murray Basin's mineral sands. She also contributes actively as a councillor for the Geological Society of Australia (GSA) and co-Chief of GSA's Early Career Geoscientist Advisory Panel (ECGAP), reflecting her commitment to empowering emerging geoscientists. Diana's ethos revolves around embracing complex geological challenges with fervour and resolute determination. About Geological Survey of South Australia The Geological Survey of South Australia (GSSA) collect, manage and deliver information and knowledge of South Australia’s geology, particularly for its mineral resources prospectivity. Please click here to find out more about the Geological Survey of South Australia: Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. 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