This question has been raised several times at shareholder meetings. These meetings are available each quarter for all to attend. The contracts are all profitable, ARU is negotiating from a position of power - hence the 172% offtake at advanced stages.
The way Darryl explained, is that there is supply shortage, so the western market will pay above the spot price to ensure they receive the supply from a tier one jurisdiction that is ex-China. He then went on to say, that the cost of the NdPr, is less than 2% of the total vehicle, so to pay a few extra dollars on product to ensure supply certainty is something car manufacturers etc, are prepared to do.
They have reiterated many times now, that spot price of NdPr is not a concern for ARU as it may be to other companies. Ie 85% of our offtake will be contracted, and these contracts are in the money.
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