Ann: China heavy rare earths export restrictions, page-5

Ashentegra,

The seven categories of medium and heavy rare earths, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium-related items China placed on an export control list as of April 4, is seen as a strategic move selecting those that are crucial for the U.S. economy.

But at this stage it is not an outright ban, although China can restrict the number of export licenses it issues.

In the meantime, despite concerns over Iluka's high upfront funding and its net debt which is forecast to peak at just over A$1 billion in fiscal year 2027, I envisage continued support from either/or the Australian and USA governments to counter China's unreliability as a supplier of critical minerals.

And who knows, there could be another company running the ruler over Iluka and assessing whether it's a good investment.

So while it may be a bumpy ride I still see Northern Minerals as a profitable medium/long - term investment.