No comparison, back in 2013 Lynas had built assets +$Bn and debt...

No comparison, back in 2013 Lynas had built assets +$Bn and debt ~$500M, not going to quibble about exact value, and yes they had accumulated losses then and still do.

The difference is then and now Lynas have quality long life assets, very much incl ALL the premium ROW customers, magnets & catalysts, and a proven commercial business plan, one they can now readily expand off.

Despite the nonsense written here for years and much company promo, direct & indirect, NTU has established little if anything to suggest they can ever be commercially viable.

The indisputable fact is NTU's "heavies" mantra is sheer fantasy, the Dy content is simply a larger proportion of a VERY low grade resource.

Just Mt Weld's much smaller Duncan deposit has a HIGHER in-situ grade as part of a far larger, higher grade resource but even older 2015 data demonstrates it clearly:

Browns 9MT ore x 0.63% grade = 57KT TREO

In-situ o.053% Dy x 9MT = 4770T

Duncan 9MT ore x 4.84% grade = 435KT

In-situ o.061% Dy x 9MT = 5670T

Not only is Duncan richer in Dy by grade & total volume but it virtually comes at zero cost as a by-product of the primary NdPr resource, NTU is basically a one trick pony totally dependent on a single low grade element & extremely high recovery rates, read costs.

Any subsequent resource updates heavily favours MtW now 3MT TREO, and I haven't even touched on the main deposit CLD, now amalgamated.

Very little serious analysis ever been written re this stock, which isn't unusual RE, yet it hasn't stopped a fresh bunch of shiny faces wandering in and pumping the emotive nonsense.

BTW, understand the tK offtake is nothing remotely like it was purported to be, which will become obvious shortly, and the obvious Q's would have to be how many times did they have to process the ore to make just short of specification, and of course what were the recovery rates?

That's the sort of hard data you'll never get from NTU, but guess that's not going to bother the carnival barkers until they feel pain.