Interesting couple of articles in weekend press (AFR p23 and The...

Interesting couple of articles in weekend press (AFR p23 and The Australian p24 - you might have to buy the papers as I don't know how to get around IP issues) about toll processing of rare earth minerals. They have been prompted by Lynas AGM presentation by CEO Amanda Lucaze. She is trying to encourage other RE companies (Iluka, Hastings Technology and ASM) to consider using her new processing facility, to be built in Kalgoorlie at a cost of around $500m. They are still 18 months away from being able to do third party processing. Her comments were preceded by the fact that "the rapid push in rare earths could all end in tears". I think it is more about scaring other processors away.

So on that basis, I am expecting our facilities to be significantly cheaper and be ready in a shorter time frame than Lynas's. It is interesting to note some of Lynas's financials for 20-21. Revenue of $489m and NPAT of $157.1m. These figures will help in comparing the soon to be released ASM revised costs of mining at Toongi and processing in South Korea and Toongi.

Hopefully we will get a more detailed update from ASM as part of their Annual Report, due out either this Monday or Tuesday.

Cheers Westwind