General Discussion, page-1267

I get that ARU is currently producing nothing and that they are about to start spending big and incur significant debt to fund Nolans development.

However, ARU forecasts a conservative EBITA of around $0.27 per share once they’re producing, and with the numerous other factors around supply and demand, this may very well go higher, particularly as their guaranteed offload looks to exceed expectations and Nolan’s may process minerals from other sites.

The current share price is an anomaly due to the Chinese share dumping and the recent short selling. But Nolan’s is finally being constructed, rare earth demand is increasing, countries are distancing themselves from China and looking for alternative sources, the remaining financing is soon to be completed (hopefully) and the workforce is being recruited. This is the storm before the calm.