‘ In addition, if it agrees to the commercial conditions related to supply, VTRE will work on the development of a mine to secure a supply capacity of $50mUS of rare earth oxides, for 5 years from 2023 and will also promote investment and joint ventures in South Korea, ‘
Not sure if this is $50mUS per year or over the 5 years, but my main concern is the article is stating they will develop a mine to secure the feedstock for the KMP.Whilst it sounds like it maybe a small mine by the numbers being stated, this will still take some time to build.Let’s hope VTRE will supply oxides from there current mine and processing facility in the very short term first, WE NEED FEEDSTOCK ASAP TO ENABLE METAL SALES AGREEMENTS!This is not easy, it could also be a translation issue so who really knows what the details are…..That’s why we need ASM to explain EXACTLY what agreement they have signed, if any!
ASM Price at posting:
$1.52 Sentiment: Buy Disclosure: Held
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