Ann: Arafura launches A$20m placement and A$7m SPP, page-326

Are you serious? Lynas have oodles to supply POSCO given their expansions recently completed with Kal refinery (removal of radioactive requirement at the time which has since been removed by Malaysian Gov) and LAMP major expansion/refining separation capacity AND recently advised HREO's to be produced there next year - JARE take only a small % of current production and on recent low pricing Lynas have been stock piling extra product rather than sell to China as they do when pricing is suitable.

The US DOD funding package is for a heavies processing plant only - in Texas. There are plans for a latter lights plant nearby yet all is on hold re permitting issues. Therefore US manufacturers - DOD when their stockpiles reduce will be looking to take some product from LAMP to comply with Biden admin regulations yet a considerable amount of magnets are to be produced by POSCO with that massive deal they struck with future US and EU supply.

Lynas can supply much more to POSCO than ARU simply because ARU only have around 2000T of "FULL" stage 1 production available and it is anticipated to take 4.5 to 5 years from FID to reach that 4400T nameplate capacity - so what do POSCO do in the meantime unless they take Hyundai off take product which is clearly contracted to Hyundai and if memory serves me Star Group produce their magnets. Therefore perhaps a combination of Lynas - ARU and even Vietnam was mentioned and who knows Iluka.

Due diligence - where have you seen that DD only on ARU has been POSCO'S only connection with future supply needs? nowhere!

Shorts want to exit at lowest price possible correct! So it is in their interest - as we are seeing with recent data from Shortman to sell at current lows from the previous stable circa 20c and it is also in their interest to manipulate the SP lower to achieve the lowest get out price prior to the anticipated equity closure - particularly when the NdPr continues it's considerable climb up off recent lows. The Shortman 4 day data lag will appear soon enough.