That's interesting, my thinking is quite the opposite so I value...

That's interesting, my thinking is quite the opposite so I value what you have to say as it may inform me. What are you looking at that suggests the market is looking toppy? Are you talking about REE in particular or the broader market. Do you think the current stimuli in the pipeline are going to get blocked in some way? Or is it the more recent volatility in REMX?

The DD I've done on the sector suggests there is going to be quite the supply shortage over the next few years in the space. Hence the real push for looking for funding/gov support rather than CR, since the expectation is that delaying it would allow you to raise at much better levels further down the line.