I am no wiser than your good self how this all works out but the scenario you outline makes no sense.
* Hyundai have signed a binding agreement with ARU for substantial off-take... so .... what are they going to do with that supply? Ship it off to China to manufacture magnets... or... are they securing the supply for a SK manufacturing operation? I suspect the latter.
* You keep suggesting the consortium is a dead end. Then why did they stump up US$15M to buy ASM at a big premium? That's not a small sum of money.
I put a couple of links to articles in my post above. The first link is an article reporting that Hyundai is in a deal to provide 12GW of off-shore wind power for SK by 2030. Wind turbines can provide up to 5MW of power per unit which might mean around 2500 wind turbines. Additionally to that, Hyundai provides wind turbines World wide. Are they going rely on China manufactured magnets? If so why bother securing upstream REE. Surely it is logical they are in the process of creating their own independent supply chain. In which case, on what basis can you confidently dismiss the consortium?
If it turns out you are correct and the consortium drops out .... doesn't it make sense there will be some replacement which will satisfy Hyundai's plans?
I am not sure quite what you are worrying about.
ASM Price at posting:
$1.76 Sentiment: Hold Disclosure: Held
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