Ann: ASX Release Land Agreement Teeside, page-5

Good Q, outside the Dragon you can just about count the direct NdPr customers of any consequence on one hand.

LaCe not a great deal different, and in over supply ATM so LT relationships and ability to supply product @ customer spec vital.

No major customer will purchase at scale until production proven reliable @ spec, perhaps a year or two from start up. Two of Lynas foundation customers just took 15 months to approve a higher spec product, with a 3 month forward for first purchase, 18 months in total.

Raising funds & building plant is the easy bit.