the closer a company moves to the end consumer and the more...

the closer a company moves to the end consumer and the more value they creat, generally margins increase.

owning a fully integrated supply chain provides a higher security to customers as they are aware of China's ability to weaponise supply.

byd now supplies more ev's than Tesla, with the entry Seagull at 11.5k usd. this is not lost on EU or US car makers. tough import laws will at some stage be added to further protect these key employment industries.

i wouldn't want to be an RE explorer without a non-China downstream strategy as they will be a price taker.

having a downstream refinery means ixr can capitalise on spot markets when prices are depressed, even if they mine at breakeven they can screw other miners and recover margin down the chain.

this bodes well for ixr medium term, as long as they can demonstrate scalability and execute. gltah