Everyone largely focuses on NdPr LREE because there’s little use...

Everyone largely focuses on NdPr LREE because there’s little use for DyTb without them. Also Iluka’s monazite resource would not be particularly strong on DyTb etc HREE. Xenotime is a significant resource in WA but all greenfield. Iluka is an obvious choice to host the project.

The Eneabba announcement only mentions rare earth elements as a group and also multiple third party inputs. I feel certain that full sep is involved.

I presented the logic that suggests the project would be aiming for a magnet-suitable ore mix and that would REQUIRE bringing DyTb-rich resources on board. ROW desperately needs DyTb to break Chinese magnet monopoly which is incompatible with supply security and global (national) security. We also need the added NdPr, but Iluka resource is also 10% xenotime bringing a chunk of DyTbHo. That’s small input is big.

A stand-alone toll processor with multiple inputs and full spectrum REO outputs is essentially what the Iluka announcement foresees in my opinion. Iluka will be an operator and provide an early resource to accelerate, but they are a titanium company and that is good business right now.

Interested and NTU investors should read the Eneabba announcement very closely. There is not a wasted line, there are plenty of details (not the devilish kind) and it is heavy with vision imho.