Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-56

Tesla are talking tough on REE to pressure suppliers & push their ESG credentials - still remains to be seen if they can contract someone to come up with practical & long lasting non REE motors - it doesn't mean every manufacturer or industry will follow


Even if Tesla succeed in producing EVs with reduced REE there will still be demand from almost every other technology platform

REE alloys & uses are still very much modern & emerging areas of chemistry & associated technology

Hard to see leading technology & military & aerospace & nuclear industries completely abandoning REE use & research

There may well be cases for lower REE use but I think it's highly unlikely that REE integration in technology is reduced significantly over coming decades

Total abandonment of REE use & research at this stage could put manufacturers at a significant disadvantage & until alternatives are proven in daily dynamic use by industry & consumers it seems like a lofty & ambitious ploy by Tesla to market themselves as pioneers just like the self driving rubbish.....

ASM still carries upscale, production, offtake & funding risks but may well be oversold at $1