India has been out of the market for a long time it's true. Don;t know when it re-starts, but once the government has control and the 'right' people involved I think it will because there is too much economic value to ignore. India was always a large producer of sulphate ilmenite with the usual rutile, zircon, garnet bi-products. Add potentially highly valuable monazite bi-product for REE's and the temptation might be too much...
What price are RDG selling their garnet for ? I saw you posted a retail quote from Burwell's, surely you're not conflating ex-mine gate wholesale pricing with small bags after large retail mark-ups? Not sure about the abraisives industry, but retail businesses commonly pay ~30% or less for wholesale product to be held, broken up, and on-sold to the public.
I can't argue with claims that 2021 peak re-inventory stocking, boom demand, supply chain constraint pricing is the new normal and here to stay. I'm just a big believer in the profit motive driving new supply up and high prices down. The cure for high prices is high prices... and while HVY goes through various study iterations, permitting, EPA etc exiting producers will be driving their mines harder and satisfying demand.
The tough part starts after the DFS in a couple of years time convincing equity funders to stump up first-loss risk money on a 15 year mine life still 18 months away from producing. Quite a different thing to convincing HC readers it's worth a quick punt, which is why market dynamics and LT pricing is so important. Never say never, maybe HVY will sell out to GMA and the cartel can avoid any price war... then go waste it all in Mozambique lol.
Good luck, really, no hard feelings. Was happy to give
@LovesMining the heads up in case he couldn;t work it out for himself (which he did).
