Ann: Commonwealth Government supports Nolans with US$533m package, page-89

Those binding offtakes are subject to ARU delivering on making it into production, though the confidence isn’t there as reflected in the SP. Also, the near-term outlook for EV production seems to be taking a step back with the industry set to keep producing ICE vehicles longer than expected, with most OEMs doing a 180, for example, Mercedes. This may mean the KIA/Hyundai deal may be scaled back or held in limbo for some time if their transition strategy changes, especially concerning the imminent global recession. I'd be looking at the fine print there if I held a significant position. ARU should have been an active explorer over the decades instead of digging in on the “one-pit winder strategy.” That only works if there are economies of scale at play in a REE project, which currently only Lynas gets close to but still misses the mark. There is at least one known project with economies of scale far away in the US, though, and that’s just pure luck. But surely, after such a multidecade grind, ARU shareholders would be happy with a 40c-70c buyout. Perhaps with last week’s stellar news, $65c-80c from Gina is more likely around the $1.5/1.8 billion range.