ARU is separating to Rare Earth Oxide, and HAS is basically sending it packing once out of the ground (with a few processes). There is about ten years of further years in research and IP to go on to Rare Earth Oxide, then capital outlay that distinguishes ARU from HAS.
Taking a resource to a Rare Earth Oxide is a whole new level of competition...that very few on the planet can achieve. Remembering ARU has provided samples already.
There is also significant differences in Measured resource, being in ARU’s favour by almost x4. So I’m not sure we can put HAS in the same race.
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