We have been through this before Ski....There will be a place...

We have been through this before Ski....

There will be a place for Hypromag, but they do have their limitations.

NdPr, maybe Sm...is about it.

HPMS offers an extremely efficient method to extract magnets from end of life waste streams as a pure NdFeB alloy powder with a very low environmental footprint. During HPMS, products are exposed to hydrogen at atmospheric pressure and room temperature. The NdFeB magnets break apart and crucially the powder which is generated is demagnetised which makes it easier to extract. The nickel coating peels away from the surface of the magnets and this can be separated using mechanical means. The extracted NdFeB powder is of a purity whereby it can be re-processed into new magnetic materials or rare earth alloys. HyProMag Ltd will be targeting a wide range of end of life applications.

Their tech cannot take a basket of MREC and seperate into all 17 elements if necessary.

Our process can take magnets and MREC and tune the process to target the required elements.

We can recycle and refine...

Particularly Dy Te

And I do believe there will be space for multiple players in this space, as th west decouples from China.

What I would take from Hypromag's journey, is a window into the future for our future.

The establishment in multiple jurisdictions, with strong financial backing of us$100m....

Sounds familiar?

That will probably be IXR in 2025....