Ann: Globally Significant Maiden MRE for Colossus IAC Project, page-86

you obviously do not understand the difference between an IAC and hard rock. The head grades are high in hard rock but the basket value tends to be lower as the composition of treo is dominated by cerium and lanthanum. The IAC deposits have the greater components of Heavy reo and magnetic reo whereas the light reo is the dominant composition.
then you move onto processing cost - IAC is typically at surface within the 5m to 30 m depth and requires a simple process of static leaching and precipitation to produce the MREO carbonate whereas the hard rock deposit would require benefication, cracking, water leaching and precipitation to produce the carbonate.
the capex is typical much higher in hard rock - billion dollars plus vs 100-300 mil and takes longer to construct.
mining method is simple bulk stripping in IAC
bottom line is lynas has 17 usd cost but it has a basket value much lower.
so let’s wait for the scoping study. We have significant value and give this time as it progresses towards it s scoping study.