Closing price Day 1? Sweepstake, page-90

Apart from comparing with RE miners, Zirconium miners like Iluka will need to be considered for comparison.

This is incorrect. ILU does not produce Zirconium, it mines the mineral Zircon. It does not have the capacity to produce any higher value Zr products. Zircon is used as an abrasive and a refractory, but not high value uses.

Outside China this is capacity is linked to Military and Nuclear industries.

The process involves ultra high temperatures and gives a nasty cocktail of polluting byproducts

ASM does not have Zircon but uses a different Zr mineral.

.Zr products will provide over 40% of ASM revenue not 1.89%.

Regards

RB.