Our short term objectives are focused on ensuring that the Nolans project has all approvals and commercial agreements, enabling us to capitalise on rare earths and phosphate market opportunities.

This will include construction of a rare earths processing plant with a plan for production from Nolans in 2011.

Test work to date has provided significant progress in the definition of the flow sheet required for the engineering of a processing plant to recover:

• rare earths,
• phosphate,
• uranium
• and by-product calcium chloride.

This test work will continue with a target of completing the detailed flow sheet design for all major product streams with the rare earths going to separated products enabling the pilot plant to be completed by Q3 of 2008.

Approvals documents including Notice of Intent (NT Government), Project Referral (Federal Government, Department of Environment and Water Resources) and application for Mineral Lease (NT Government) are all to be submitted in the first half of 2008. Responses to these documents will form the basis of an Environmental Impact Statement and Bankable Feasibility Study, targeted for completion by the end of 2009.