[ATTACH] Some slight increases in the REO pricing since last...

Some slight increases in the REO pricing since last posting.
Dy and Tb reportedly already in deficit which means stockpiles being drawn down.

And we're not talking inconsequential amounts. Sure the tonnages look small, but to put into context. 350T of Tb and 500T Dy deficit forecast in 2023.

Consider IXR is forecasted to produce 24tpa of Tb at full output. That's 14 more IXR's needed to meet deficit...



And before one wonders the companies like LYC or MP already producing are already supplying the Dy and Tb in their by-products. So although in the future they may try to separate these oxides themselves we're talking additional supply required.

If these metrics are anything to go by - they're going to either need to drawn down on stockpiles severely and/or we're in for a massive price pinch in the next 6-18months. Then add the fact china and myanmar are depleting... I wonder why recycling rates of REO has been increasing (can't supply materials raw) excellent foresight here by IXR to open that pathway. Technology insights and knowledge know being built internally. IXR will be able to supply it's own raw material from the mine, refined and separated. It can then also recycle all the magnets originally sourced from China and other places around the globe and give it a nice ex-china rubber stamp on those oxides.

Recent presentations Tim kept referring to building the supply chain even further. "there's no point in producing these oxides ex-china if there's not the alloy and magnet making capability to support them". Starting to wonder if they're considering going another step further and JV in the alloy/magnet making business.

Hoping to see the full picture starting to come together next year. Pilot plants mining licence and the FS and SS obviously all help too.

Lets see what the market thinks though - that determines the S/P

SF2TH