ACREI blurbs, page-3

Specifically with respect to China's relaxation (which is certainly not the same as elimination) of restrictions on foreign investment in REE smelting and separation, the impact remains to be seen. It could lift REE prices. But would it address the real problems stunting REE-based technology commitment: long term ROW supply security and the monopoly? Would it bring BMW back to the table?

Of course the foreign investments in mine-to-metal ops might also be seen as a threat that would render Lynas redundant. That said, my belief is China will pick Lynas clean at prices it controls to preserve its reserves. And Lynas has a bigger problem that could force them into selling their concentrate to Chinese refiners: long term radioactive materials storage.

Most likely China wants/needs foreign capital to update their mine-to-metal operations so they can build out their next-gen magnet-making monopoly-in-the-making. Magnet-making is where I'd love to see ROW development. That would really help Lynas. The Japanese-Chinese duopoly has grown old.

As a Lynas investor, I had hoped the ROW supply chain and downstream REE industries would be further along by now, but I've seen little evidence that is happening.

Bottom Line: On the whole, the first article portrays a call for foreign capital, which makes sense from a number of angles. That would help China and helping China helps Lynas. If you can't beat 'em, join 'em.

With respect to the second article announcing Browns Range production, that has been a long time coming. This is neither good nor bad news for Lynas. It would have been better news if the concentrate was not feeding the fat Dragon, but instead nursing the ROW supply chain.