ASM Chart Thread, page-9051

Just a point to illustrate what I was saying above.
ARU's Nov 2022 Update uses $125/Kg* Nd/Pr price for offtake period and $135/kg for life of mine.
ASM's Early 2021 Update uses $105/kg for Nd & $95/kg for Pr.
So in rough terms, there is a 20% uplift in expected prices.

Now any mining investor knows because of fixed and variable costs Price increases feed to the bottom line in leveraged manner. (The higher the proportion of costs the more the leverage).

I can't see the bulk of the other products like Terbium $1,450/Kg going the other way either.
Yes, capital costs may rise but the issue of financial profit leverage (as distinct form gearing) is pretty clear.

I suppose one can throw that logic in on the KMS plant longer run too but I'm treating that as the challenge for now.

All IMVHO.
*(There was a period in 2022 when it exploded upwards ).