Fair question Burge 13. Simple answer is we don't know if it is...

Fair question Burge 13. Simple answer is we don't know if it is currently profitable but as it is a demonstration plant you and would not expect to make a profit on a small scale operation.

The demonstration plant is there to technically prove the concept of recovering rare earths from a variety of recycled magnets and swarf (production offcuts for equipment used in windfarms). Fortunately we have only had positive feedback from IXR on the quality of REs produced and the company sounds like it is very confident of the quality of REs that are being produced.

Given that the IXR RE processing technology is working at a small scale, it is now mostly a matter of fine tuning the process and developing operating programs and procedures to be followed by plant operators to ensure consistency and quality levels are maintained when scaling up production.

It is looking very positive IMHO. A decent bit of financing from the UK or European Governments to build a scaled up plant would not go astray at this point in time. It must be a strong probability of happening given the focus by Governments around the world right now. All IMO.

Cheers W2