I was surprised by Nick Curtis arrival. Been asking myself what...

I was surprised by Nick Curtis arrival. Been asking myself what it meant since it was announced. Still not a close follower but an occasional one.

Despite his arrival, however, the strategy presented in Feb '21 continues to be pursued. Including more drilling, defining more resources and targets, increasing (at least doubling) mine life, pursuing ore sorting and beneficiation as opposed to full separation and carbonates. They got a lot of data that few other ops have from their pilot study and imho remain with the front pack of developers of xenotime resources.

The NTU strategy assumes third party aka central refining of concentrates; a strategy that has been long recognized as more sustainable both environmentally and economically. ILU and their very important new partners have definitely adopted a toll processing model. Of course, they will at first focus on the monazite/xenotime from Eneabba, but just like NTU they want more "mine life" than currently exists in their stockpile.

That said, a blended input is not without attraction. NTU et al may well be part of that mix. NTU's xenotime concentrate would have less U+Th than the Eneabba stockpile which is 90% monazite. It will also have more of the SEG as well DyTb. To support a full separation refinery requires DyTbHo-rich inputs that bring value to those very laborious HREE separation procedures.

Everyone knows that ROW cannot continue to produce only the LREEs because they are bound for magnet makers that need DyTb to produce the high-end high-power high-temperature magnets needed. Ideally (imho) the ILU toll processing plant would put out a REE mix with magnet-suitable ~30% Nd ~3% Dy and that may only be possible with added xenotime.

I am not a holder at this time, but if the drilling results (currently delayed) prove up I may be taking a dip (hopefully not a bath). Regardless my position, gltash.