Ann: Northern Minerals enters into $30M equity funding agreement-NTU.AX, page-68

"HRE supply is now on the wane"

Rubbish, they discovered a 100,000t TREO ionic resource just 12 months ago, very nearly twice the 57,000t identified in hard rock, underground and spread across 6 patches at Browns Range.

And it's located in the same province as their NdFeB manufacturing base:

http://en.xinfinance.com/html/Industries/Materials/2015/123379.shtml

Following the new Five Year Plan there were a number of comments on the abundance of RE resources:

"China is rich in rare earth resources, we continue to find new rare earth mine, 100years will not be exhausted, it is now an indisputable fact."

http://www.ac-rei.org.cn/portal.php?mod=view&aid=4815

"First, China's rare earth resources are very rich, REE complete, with long-term strategic advantage. "China's rare earth resources, the depletion," the understanding is unfounded, and it is very harmful; to local conditions, for different characteristics of the North and South of rare earth resources, development and utilization of resources to develop targeted policies; pay special attention to ionic rare earth resources distribution"

http://www.ac-rei.org.cn/portal.php?mod=view&aid=3299

There is absolutely NO shortage of RE in China, or of the ionic HRE resources, they are still discovering more, as above, 100,000t of them!

What they have worked out is that they need to process them far more efficiently, from mine site to end product, raising the bar to competition.

BTW, care to provide a link to Jack's comment?