A wait and see as to whether or not TTC will develop these hree's through to production now that Toyota has signed their insurance policy becomes a really big if in the meantime. In the meantime viable substitutes for hree's are and have been developed. How long will TTC hold their jv insurance policy with MAT? Once the newly developed substitutes replace the need for MAT's under-proven undeveloped un-mined uncalculated resource, TTC may just as well let their insurance policy - jv with MAT expire but the proposed studies to come are nothing more than a little window dressing to an empty store that will in all likelihood remain empty. The market reflects this sentiment in the sp and rare earth companies all over. I warned this brood mightily of this concern well in advance of the current newly transformed bag-holder-ship and what obviously fell on many a deaf ear.