I dont think they are constructing a beneficiation/concentrate plant. This is how I read it from their last presentation:
Browns Range Project further de-risked • With long term supply and funding agreements with Iluka • Avoids construction of capex intensive downstream processing plant while maintaining exposure to Rare Earth Oxides (“REO”) price upside through the terms of the Iluka Supply Agreement
NTU Price at posting:
3.3¢ Sentiment: Sell Disclosure: Held
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(20min delay)