Ann: Chief Executive Officer's AGM Presentation, page-34

We do know what they were doing. Picking their noses and throwing unfounded praise at each other.

The deal was for 60% of supply to Stillwater:



USA Rare Earths forecasts for the Stillwater plant that I last saw (July 2023)

"Our first magnet production line will be producing magnets in 2024,” said Schneberger, referring to the magnet production equipment which his company purchased in 2020 from Hitachi Metals America in North Carolina and is now recommissioning. The initial production target is about 1,200 tons per year.  “We can already see that customers will need us to add subsequent production lines …” — Tom Schneberger, CEO “We will use our production ramp up, during 2024, to qualify the magnets we produce at customers who reserve that initial production line’s capacity.  During our early customer conversations, we can already see that customers will need us to add subsequent production lines to ramp up our Stillwater facility to its 4,800 MT/yr capacity as quick as possible.”

So if we were to assume ASM providing 60% of initial supply for them to knock out 1,200tpa expanding to 4,800tpa of magnets, someone far more knowledgeable than I on the subject (not hard) could easily make estimates for the alloy ASM likely to supply IF (big IF) USA Rare Earths meets its productions targets - would hesitate to try and give an estimate on the precise amount of alloy input to get that magnet output and will gladly defer to someone like yourself.