There are a limited number of clients ( I think that Eric said...

There are a limited number of clients ( I think that Eric said at the QA session that there were about 6) so their current needs have been known from their purchases from China and Eric has come from the customer side to LYC.

LYC with its sophisticated LAMP will likely add value by purer REEs or mixing
REEs to customers' specifications.

Smuggled product from China is likely to be replaced by LYC because Japanese
Companies would not wish to be discovered to be recievers of this illicit product
if in the event China busts the smuggling ring. This would exacerbate already
frayed trade relations between the two countries.

The only question is will Japanese users pay normal basket price for the LYC
product or will the insist on LYC meeting the current lower Chinese smuggled price. IMO, the Japanese will pay current prices because to do otherwise would be a tacit admission that they are recieving smuggled product.This, however, may mean selling value added product to the japanese at the Chinese export
base price.

Cheers
Moorookamick