There seems to be some tricks to this market, it is not simply...

There seems to be some tricks to this market, it is not simply selling to a metals trader an agreed quality, a pure commodity. My guess is that the buyers are the magnet makers or near to end users, they work on the approved vendor model. If a vendor for an item/material is approved, only a lower price would make a buyer go through the cost and risk to change a vendor (which would need to be reported and tested with the end user). Practically, that would be near to impossible, hence my question about whether we can produce at market pricing. Rowena's answer I read as there being some amount customisation of the provided materials in ratios of the elements, meaning a market price does not really exist. Cracking that for an existing product would therefore be hard and you would need sharp pricing.

So, the market here will be newly developed products which will certainly be a slower process to ramp up with extensive up front testing, pilot production, ramp up for each combination of materials. But once, qualified for the end users items/magnet this should be a largely secure business for the reasons outlined above.

I used to deal with Samsung and other similar producers selling electrical components. If this summary is accurate then the selling team will look quite different (lots of close contact time with R&D, product development, providing samples) and this business of talking about offtake agreements does not quite convert into purchase orders, which I think is where we are. We need to be talking about specific customers and buyers - cant help also note that South Korea is a parochial market, business will be hard to come by unless there is no local alternative.

So far as I can tell, KMP is ready, local sales are the issue - the question now, is the right team in place? How much of the existing market is really addressable given the market's realities? Do we have the right mix of products now and in development? What is plan B in terms of export if the local market is slow in ramping up?

I went to the meeting interested in KMP and with almost no interest in Dubbo. If KMP is a success, then we move on to other sites as a metals company not a mining company, regardless of the source of the oxides. Right now I cant tell if it will.