Based on what I can find their head grade is 1/2 to 1/3 of MEI's gobal 2600 ppm MRE (and that's not accounting for the high head grade pocket for CDM). So without a doubt Serra Verde would be losing lots of money at current spot. I wish it was publically traded so we could have more info on actual OPEX and recoveries as it is the only REE clay plant outside China/Myanmar. Who knows how long it can keep going...
On top of that @acceler8 reckons Serra Verde are running half capacity due to their dry stack facility not meeting design (no idea if this is true) so it could be a bloodbath over there.
Ann: Caldeira's Scoping Study Confirms Exceptional Financials, page-41
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