Brett stated that the Brazilian Government spent $100 mil on that Magnet Manufacturing Plant and want to be producing a 100 ton Magnets within a year. The expectations is initially that they would have a very high percentage of swarf before they get this very high specification Magnet recipe right. Thats where we come in for the Brazilian Government, they already are struggling to get Material from China, Chine wants to sell finished goods not sell Oxide or help a Competitor start up a Magnet Manufacturing Plant, the JV with VVM will see the Recycling Plant up running to support that Magnet Manufacturing Plant. I believe that's way Tim stated Belfast might not be first in production, the Brazilians is in a hurry.
IXR Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
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