[ATTACH] Also FWIW Dy, Nd, Pr published prices for those...

Also FWIW Dy, Nd, Pr published prices for those minerals from scrap. Essentially exactly what the pilot produced and the demonstration plant will produce.

Obviously the demonstration by naming convention is just that - and not meant to turn around commercial quantities.

But for context you're talking ~1.5-2.5M USD p/a in revenue. (depending on magnet scrap) 30T scrap in for 10T products out.
Now imagine once that demonstration plant has proven viability and now some bulk scale product available for customers.

Wouldn't be overtly cost intensive to scale that recycling methodology to say 600T in for 200T out.
You're now talking a ~30-50M USD revenue.
A due to the nature these are modular. One in the US, one in UK, one in the EU. etc.

Also, whilst the recycling business is competitive IXR one of few (if any) that recycles back into separate lathanide elements. It's equally importantly to have security over the front end product and supply chain.

I.e. we can supply you material from the mine, separate it (hopefully future state make the magnets). Once you're done with the magnets, we can recycle them for you as well.

All the current end users of the permanent magnets (made in china) could then, in a future state. Send them into an to IXR or an equivalent western magnet recycler. In essence, 40% of REO currently is supply via recycling and not being mined. That's almost all china. So there's an opportunity to strip that 40% down. But it only makes sense recycling, if you then don't have to send the products back over to china to turn them into alloys/magnets again.

hence why i think IXR is going to try and structure up something end to end. Although i suspect the magnet making bit (if anything) would likely be a partnership or by an offtake agreement. (i.e. a UK/US/JAPAN magnet makers says, we'll take everything you supply and make magnets.)

Speculation - first things first. But just thought i'd point out that the magnet recycling is highly scale-able and the revenue not inconsequential. At a demonstration plant level maybe - but not a commercial one, and not if they can end up with a few dotted around.

SF2TH