Ann: Zirconium Metal Produced in Korea, page-20

TnC2, I just love this speculative phase of a company's life with all the focus on what wonderful products it can make and at a competitive market.
I am an ALK and ASM shareholder - have owned ALK since before Dubbo was discovered and enjoyed the speculative euphoria around the rare earth prospects and ALK went to $2.40 in 2011. Putting a value on ASM is extremely difficult without some understanding of the operating and capital costs involved but there is one thing for certain - without ASM Tech, Dubbo would not get developed in our lifetime. Dubbo has been shovel ready for a very long time and the only reason it had not been able to attract financing was it was, at best, a marginal project - take a look at the assumed rare earth prices in the BFS - double, or thereabouts - of the current prices. The real money is to be made in making the final input product, that is, the metal, which ASM can now do. In effect, ASM Tech will be subsidising the Dubbo operations. Theoretically, ASM Tech would be more profitable without Dubbo if it were able to access guaranteed third-party supply of the rare-earth oxides. In reality, it is likely that ASM will be sourcing third-party material as it waits for Dubbo product to become available. The value of Dubbo is that it guarantees supply of the material that ASM Tech. For now, I am just sitting back and enjoying the ride and have no intention of selling any shares in the near term! Good luck to all.