Ann: Globally Significant Maiden MRE for Colossus IAC Project, page-135

Hello. Your post is getting every funnier. You post a spreadsheet with (after production adjustments) 5,737tpa of contained REE at $18.30/kg bringing $105M in revenue. However, even Foster is optimistically purporting $12kg in costs. This comes to $69M in costs. The gross margin comes to $36M. Then deduct $5M in royalties and possibly $10M in tax and the annual cash flow comes to US$21M. With CAPEX of US$272M the payback is 13 years. And to reiterate, this is using the Foster $12'kg OPEX (which personally I wouldn't use for an investment case). Thanks for the laughs at 5:22am @@mho25

So to summarize, as I have posted, the impression is VMM is banking on IXR's novel technology.