Wolverine is a distinctly different, high grade REE deposit with lots of desirable (valuable) Nd and Tb, also Yttrium, highly complimentary to ILU's monazite.
The Oz, US, Euro, Canadian and Japanese governments are anxiously watching the development of the Australian REE industry, both LYC and ILU-NTU.
All want a secure non-China source of Pr-Nd-Tb-Dy as soon as possible. They stand ready with their chequebooks to prevent any delay.
The Wolverine mine WILL be built, quickly - all will want to see a good pile of Wolverine concentrate sitting at Eneabba when the refinery is completed in late 2026. There is a legitimate question whether NTU holders will be the beneficiary of this urgency of development, or diluted away by fresh capital.
ILU’s refinery is sure to have the usual start-up hiccups. Also, it will produce elemental concentrates, not manufacturing-ready product. That’s the next stage. There is little evidence beyond headline statements of ambition by ILU to metallisation. Perhaps they need government assistance.
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