Lol, you guys are hilarious, looking backwards, and hoping, hoping.
Let me give you another perspective if you want to make comparisons with the living, a factual one, based on a number of hard realities.
What's Gav spruiking now, 4/5kpa NdPr, couldn't be bothered looking?
With NO offtakes other than China, and they won't be stumping any equity.
NO finance despite Gav's perennial promises, now moving on to FEED to extend the gravy train 12 months.
And you think you can square that basket case off with the only ROW producer at scale, what a joke.
While Gav spruiking 4/5ktpa NdPr, with NO equity, NO finance, NO customers the current ROW producer is currently manufacturing & selling ~5ktpa NdPr as part of 16 REO products to a customer base that incl's ALL the premium ROW customers across magnetics & catalysts that have been established for a decade, and they've gradually added other specialty customers as they've been able. Separated HRE oxides will be a positive for those specialty products.
So, the business is well established but let's see, they already have a further 2200tpa NdPr capacity that will come back on stream within two years, they've already announced a further 2300tpa NdPr capacity by 2025, and USG announced January co-funding 1500tpa NdPr capacity in Texas.
If you add that lot there's an additional 7ktpa NdPr on to of existing 5ktpa for a total 12ktpa NdPr 2025, they've got $681M COH, +$200M EBITDA.
Gav has nothing but a pile of glossies, I'll ask here yet again, WHERE are all the ROW customers to firstly buy the additional 7ktpa that the existing producer can switch on in a heartbeat, proven, BEFORE any would look at ARU, and you should look around, there are a couple far better positioned.
No doubt the same sad sods will fall back on the usual nonsense, Gav's "secret" offtake agreements was a ripper, financial advisers with no idea of company law, only in Oz, the downstream REO mkt, particularly magnetics is not easy to research but almost essential for any RE investor that wants to take it seriously, otherwise you end in fantasy world, going round in circles for a decade+. Personally I'm largely just playing a couple of ST opportunities now, cashed out most of my main position, ROW magnetics mkt looks quite finite at least next two years, with maybe Bain a loose cannon.
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