Arafura Rare Earths Ltd, page-20

Hi marc. Great chart and in perspective all Australian RE potentials and even Lynas would show an identical chart. This is exactly what Beijing wants (seriously how can Beijing lift RE productions quota's substantially with their 2 annual RE production releases when demand is apparently low - again simply to maintain their dominance for every month longer they can and strike fear into current production Lynas and near term ARU) and exactly why the ROW are awake to such and establishing ex China supply chains - all be it outside of the US - very slowly.

Just on the OPEX costs - the USD43kg is a "projection" only as is the "forecast" USD125kg product pricing sales. The 2 confirmed off takes thus far to my knowledge are aligned to Chinese pricing with caps and floors set up as part of the binding offtakes and they also have an additional premium to Beijing pricing for ESG compliance - ex China supply.

PrNd pricing really being smashed by Beijing of late now around USD65 - no one is buying into Xi visit to Biden - remember RE's have been added to export controls recently but not banned - just controlled in that all exports must be fully documented - amounts and destination being key for Beijing and no cooking the books anymore with Chinese suppliers/exporters outside of the 90% Beijing RE producers control.

Hang in there Birch. We have weathered the worse from everything with Beijing pricing controls - fake muppets here on the forum - company disclosure issues (which have improved considerably of late and looking forward to their next quarterly seminar depending progress from here to then it could be very animated however I am confident a lot will be announced prior - next 7 weeks) - the insto opportunistic manipulation - the whole renewables sector down - on what exactly I do not know - increasing EV production/sales as forecast - wind projects having issues but overall the industry globally continues growth and expected to really grow in coming years - seems more media FUD (fear, uncertainty, doubt) provided by Beijing and large traditional combustion polluting auto corporates - the renewables shift is tracking very positive - sure there will be slower periods - skirmishes as big players position themselves for future control re TESLA selling at huge discounts just to control market share figures.

Anyway got to go. Have agreat day all