Ann: Broad, High-Grade Assays at Yin REE Discovery - Mangaroon, page-119

~$4B market cap Iluka Resources does a deal with NTU to grab some supply for their Eneabba refinery.

NTU is ~2,500km's away from Eneabba and shows how desperate the Majors/everyone is to get their hands on some Rare Earths (to transport it that far).

NTU has a market cap of $209M (even though it is currently at/around all-time lows), and a resource of 10.8Mt @ 0.76% TREO, and they don't have any of the sought after magnet metals (NdPr) from a quick look, that DRE (and HAS) have (at more than double the world average rates).

NTU is about 3 times as far as Mangaroon is from Eneabba, and Dean has mentioned many times at his pressos that Iluka (and Lynas & HAS) are very keen to take third party rare earth feed.

Cheers,

GB.