new mine & plant, page-2

REE's aren't dead. LYC's basket mix value has dropped in line with expectations, maybe a bit sooner and harder than anticipated.

LYC's real problem is that their business plan failed to unfold as planned. If there wasn't value in their product the LYC would have gone under a long time ago.

There are still a few good RE co's in Aus with the right mix of elements to be profitable. ARU and NTU are a couple IMO.

ARU need to be a bit more open about their options for separating and selling what they have in the ground. With the current level of mining investment in Aus ARU's best bet is to sell whatever they can with the bare minimum cap ex, even if it proves to be less profitable in the long run. Once they create some cash flow then loo at expanding their facilities to value add to their raw material.