NTU v. LYC v. the rest, page-6

One of the rough figures I have heard for a carbonate product is around $3usd per kg, and when you look at the day/tb contained in the carbonate announcement from NTU, that sounds like it’s about right. Oxides are going for approx $90usd per kg, but will vary between the product, but 5here is also a discount applied of around 25% applied to oxides sent to China, I believe due to tax paid there. When you do some simple arithmetic, what NTU are paying to get this out of the ground, and what there revenue is, I have suspect the costs far exceed the revenue, but we will find out in the next set of financial results. The key to making this a success is getting further up the value chain. Even George Baulk said carbonates are not the answer. Lynas are producing oxides, and working on getting further up the chain, so heading in the right direction.
China has made no secret of locking up the value chain and developing components, etc, with there rare earths, and getting vast multiples of what you would get selling a carbonate. NTU have a long way to go, and in the interim I suspect they will have to keep raising cash to keep operating every few months.
Arithmetic beats narrative.