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Defense MetalsBob Moriarty Events taking place in Palestine over this last weekend demonstrate just how the nature of warfare is changing at the speed of light. Videos sent on Saturday the 7th of October show a $500 drone controlled by a teenager using a $100 cell phone dropping a $50 mortar round on a $10 million dollar Israeli tank. At the end of the battle both the $50 mortar round and the $10 million tank have been destroyed. The cell phone and the drone can be rearmed should another tank show up on the battlefield. It demonstrates that as long as toy drones are available spending money on expensive tanks is a waste of time. Tanks are to modern warfare what battleships were to Pearl Harbor. But the technology that goes into cell phones and drones is becoming very valuable. The world is in a conflict and finding a reliable source of supply for critical minerals is far more important than price. The US and Canada have made a giant mistake in outsourcing both mining and production over the last few decades. As a result China has a stranglehold on the supply of Rare Earth Elements primarily used to create powerful magnets for electric vehicles but also the critical materials for things such as video screens for television and cell phones. I have written about Defense Metals (DEFN-V) a number of times in the past. Defense Metals has 100% ownership of the 6.7 sq km Wicheeda REE project located in central BC near power, a gas pipeline and major rail line leading to the port of Prince Rupert 500 km to the west. A month ago Defense released an updated 43-101 resource that showed a conversion of 101% of the 2021 resource from inferred to measured and indicated with a 31% increase in tonnage bring the total resource to about 45 million tonnes. A week ago Defense announced commencing a 4-6 week geotechnical drill program using both a sonic and a core drill. Defense is in the midst of a pre-feasibility study they began six months ago and expect to complete in H1 of 2024 that will naturally include the higher grade and larger resource just outlined a month ago in their 43-101. Current plans from management would include the intention to produce somewhere between 20 and 25 million tonnes of REO concentrate as they go into production. That would be about 10% of world production. In my view, the lack of any production of REEs in North America is critical. In an unstable world, it is vital to have control of the resources you need to maintain your economy. The US and Canada have mumbled about getting involved in helping junior mining companies advance their projects of critically necessary minerals. Now would be a good time to stop talking and start acting on those discussions. Defense Metals is an advertiser and I have participated in private placements in the past. As such that naturally makes me biased. Do your own due diligence. The company does have an excellent presentation that all interested and potential investors should read. Defense Metals Corp ### Bob Moriarty 321gold Ltd |
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