I've been a VML holder a couple of times, though not currently,...

I've been a VML holder a couple of times, though not currently, and always have it on my watch list.

They seem to be progressing their project in steady steps, and know what they are doing, have very experienced management, and very good technical competency, which is why I'm always watching developments here.

My take out from today's very good announcement is the long term potential revenue stream from REEtec.

As a minimum, 750t/NdPr a year, over 5 years to REEtec, once in full production.

Current NdPr price is $142,000 per metric tonne approximately = USD $106m a year, with 50% sharing, VML should be making minimum revenue each year from REEtec of about USD $53m, or approximately AUD $75m Australian, once in full production. Bear in mind that this is the minimum agreement, and it only accounts for 75% of the total output.

So on a rough estimate, I'd say once they are fully operational they should be making revenue of somewhere between AUD $100 - $150 million per year. It's a nice little earner for the company, and will permit them to grow from there, if they wish, or alternatively, at that stage they may become quite a juicy takeover target for someone.

They are progressing nicely.
It's a good little company, with some good people, and a great project, that I like to keep an eye on.

Gw