@Jantimot
If Lynas received cash for the 650t of REE that was "built up" that means they are able to sell what they produce at these levels, which goes against your thesis that they can't sell everything they make.
If they didn't, I don't see many other explanations other than they are running at cash flow neutral at almost 750t.
Or maybe a little bit of both.
Both scenarios are positive.
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