Hi Birch. Correct he did not state Japan is out. Only my view on...

Hi Birch. Correct he did not state Japan is out. Only my view on DC comment ARU will be to SK what Lynas is to Japan - the fact Japan has been removed from final offtake list and as I stated Lynas has plenty of excess supply for their strategic long term supply to their substantial backer Japan.
Also I feel Japan may have been looking for supply diversification - could still be - around the endless LAMP licensing issues that have now passed.

Sorry yes the second USD75 million is indeed not equity but a loan guarantee for the then mentioned KEXIM financial branch headed in Singapore - possibly for now until confirmed.

It would be enormous to have POSCO on board however no guarantees. ARU are not the only option re Iluka - Vietnam and another I forgot that was mentioned when POSCO announced massive supply deal to US and EU.
Regarding what others may put on the table it is pertinent to interpret the GE link with EDC closure was only part of the deal going binding.
Quote "EDC's support is "linked" to the non binding MOU with GE "and" supply contracts from Canadian companies. I understand this to mean more product will be going to Canadian companies which would be appropriate given USD300 million for only 400T is significant and not sure if one should be expecting similar from others at the table.

Great conversation folks. We are all engaged and interpreting - understanding things much better for our conversations. Keep it up.