Details haven't been stated so bear in mind this is my...

Details haven't been stated so bear in mind this is my interpretation:

500tpm NdPr is getting close to full optimisation of the existing process Mt Weld > 4x SX trains LAMP. With current refurbishment/updating kilns they are expecting to produce that 500tpm consistently, and maybe they have a little more up their sleeve.

La Ce recoveries have not been maximised aka NdPr as the priority has been higher spec/higher value material which I understand has made recoveries more problematic. While I imagine recoveries will lift from current there is probably a juggling act pending volume/quality/cost against production from the expansion underway, which I'm guessing will have a number of enhancements based on the steep learning curve at LAMP to date.

Additional 100tpm NdPr will be produced entirely from a new SX train tucked on behind the kilns which have a proven capacity well in excess of what the current SX trains can handle, they've operated 240% of nameplate from memory.

The new NdPr SX train will incorporate a circuit designed for T4 but not employed, it will separate Nd & Pr to take advantage of what now appears to be an established premium for Pr basically due to demand growth in the ceramics industry. Last time I saw them broken out Chinese Pr exports to Italy, from memory Spain, and other EU destinations was particularly strong, no doubt Japan also. This will open up a new high growth mkt segment for Lynas.

But NdPr @ 1200tpa will only be ~25% of the output, nominally a further 70% La Ce 3300tpa & 5% SEG/HRE 240tpa will flow with it. Can only imagine the La Ce will be 100% oxides and the highest possible portion high spec to customer design.

Which raises another issue, the existing tunnel furnace was never designed for anywhere near the volumes of oxides now being produced, it's been tweaked & cajoled to reach current levels. The expansion underway will necessitate another tunnel furnace and I'm guessing it will have the capacity to take some of the pressure off the existing and potentially produce more oxide from current plant.

This expansion will be fully designed to optimise the built base at LAMP, maximise both the physical assets and the intellectual capital hard won in wrestling the LAMP to where it is now.

Should provide enormous value in many ways for a spend of just $35M.

Then what?