it's a mixed bag - the waiting is disheartening
we all know shenghe are the rudder, and teeside has been a thorn when they were hoping for a rose and the market for NdPr is crap as the cycle takes it's time to correct to the upside, hence the absurd discount in catching themselves short - a few haircuts would have been better received - also a but, and a big BUT, they have no FID, let alone being a producer, so that's a risk regardless whilst being in a depressed market for their core product
if you also look at the aforementioned announcement i posted, their timelines do have caveats....
eg Term – in the absence of execution of transaction documentation the Term Sheet to
expire on 31 March 2025 unless mutually extended (their "indicative" timeline was sept)
spend on further exploration was listed as part of a raising , so they advertised it - they're still saying NdPr is the main goal and i'm guessing minjingu are still doing their checks and balances with their MoU - i understand that you think they wasted millions on drilling but hindsight is a marvelous tool given the context of what's happening in the rare earth markets - sure, it's their job to understand the market & know the timing, but the only people really in that position are the market makers - in this case, that's china
no more happy than anyone else, but trying to keep it as sane and as real as possible - as per these charts....
(20min delay)