I dont think they are constructing a beneficiation/concentrate plant.
This is how I read it from their last presentation:
Browns Range Project further de-risked
• With long term supply and funding agreements with Iluka
• Avoids construction of capex intensive downstream processing plant while
maintaining exposure to Rare Earth Oxides (“REO”) price upside through the
terms of the Iluka Supply Agreement
Ann: Trading Halt, page-7
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