Ann: ANSTO confirms Concentrate is Not Radioactive for Transport, page-18

@ Winky, from the MRE the TREO grade was 2.19% and the Thorium was 50ppm. If they upgrade this to a 66% TREO concentrate (x30 times concentration), you'd expect the thorium to concentrate similarly since it "usually" follows the REO's in the separation process. If that's the case, you'd expect the thorium to concentrate up to ~1,500ppm. That's equivalent to ~6Bq/gm, which is below the Dangerous Goods Class 7 transport limit (+10Bq/gm), but it's still radioactive.

@Kamikazebear, my understanding is LYC in similar to LIN and the radioactivity is below the 10Bq/gm, so not Class 7 but still radioactive (I'm a long term LYC holder). As you noted, that issue goes away with the new Kalgoorlie plant.

@Alexandria07, I'm looking at adding to my REO portfolio. As above, I hold LYC & ILU, but have been looking at ARU, HAS, PEK, ATR and LIN.
ARU - don't like the high capex and technology risk,
HAS - also high capex/opex just to produce a conc
PEK - captive to the Chinese, and likely to become a zombie producer
ATR - not a fan of management
LIN - So far looks interesting, but its early days. Even if it has 5 or 6 Bq/gm, at that level the radioactivity isn't a showstopper, but it will require a bit of planning and management. Let's just hope LIN don't sell out to the Chinese like PEK.