Ionic Rare Earths Limited advised that the Company has commenced activity in marketing the scandium by-product from the Makuutu Rare Earths Project ("Makuutu"). Scandium is a strategic metal with a growing market dependent upon the generation of long-life and stable production sources. Makuutu potentially has a significant long-term source of scandium production, representing a substantive additional revenue source for the Project. IonicRE is aiming to include by-product potential for initial annual scandium oxide (Sc2O3) production tonnages of 10 to 20 tonnes per annum and is considering a range of scenarios. As a by-product, Sc2O3 has the capacity to offset a significant portion of operating cost at Makuutu, with current pricing for 99.9% purity Sc2O3 trading for approximately USD 1500/kg, or USD 1.5 million per tonne. IonicRE has initiated discussions with various parties engaged in the adoption of aluminium- scandium (Al-Sc) alloys in the global transportation and space sectors, which represent the large medium-term market. The current Makuutu Mineral Resource Estimate announced to the ASX on 23rd June 2020 and set out in Table 1, of 78.6 Million tonnes at 840 ppm total Rare Earth Oxide (TREO), at a cut-off grade of 300 ppm TREO-Ce2O3, also includes 30 ppm per tonne of Sc2O3, containing 23001 tonnes of Sc2O3. Scandium has several key functional benefits across all alloy series which make it the most potent alloying element. As little as 0.05-0.1% of scandium in aluminium alloys can significantly improve its performance. To assist IonicRE advance these opportunities and develop it's scandium marketing strategy, IonicRE has engaged the consulting services of Mr. John Carr in the role of Scandium Market Advisor. Mr. Carr has a wealth of expertise in the scandium market, having spent five years as Clean TeQ Limited's Executive General Manager, Marketing, during which time he was responsible for mapping out and developing the marketing strategy and networks for scandium. Mr. Carr has been engaged on a contractual basis initially to assist IonicRE with the framework for the overall scandium strategy and possesses a deep understanding of the processes required to produce Sc2O3, and how this can be integrated into the overall supply chain.