Interesting comments about future development of the Duncan...

Interesting comments about future development of the Duncan deposit, something that no one from the company has said anything about in a very long time. Extra source of Nd and Pr, Dy demand going forward is questionable though.


Does Lynas have any plans to expand its operations through acquisition or potentially diversify to survive future downtrends?

Things that we are looking at include incremental growth of our existing operations and we're also looking at different products that we'll actually make. Some of it will be high-grade or more niche products and some of it will be separation of some of the rare earths that we currently don't separate.
We've got a 25-year ore reserve and we're looking to do drilling to increase that this year. We've got a very high likelihood that we'll actually find it because we know there's ore directly below us.
Our Duncan deposit is a neodymium and praseodymium orebody with high dysprosium, which is the other missing link in terms of rare earth magnets. The Duncan deposit is enriched in dysprosium. Currently, that's just a resource. So we're doing metallurgical test work to convert that to a reserve. Off a bigger reserve, that will actually allow us to go up in throughput and still maintain a long life.