Many thoughts.1) There are six major players in China in the REE...

Many thoughts.

1) There are six major players in China in the REE space. Any of the six could perform the separation.
2) What has blown out the capex cost for Hastings? I genuinely don't know why they've gone from AUD$335m to $AUD593m?
3) Arafura capex is 1.1bil. Their extraction plant is built to process a whopping 300,000tpa of concentrate at an extraction plant cost of AUD$284.4m. Yes that's right, AUD$284m just for the extraction (hydromet) plant. Peak on the other hand want to process ~28,000tpa. To produce ~2,800t of separated NdPr oxide will cost US$150mil.
4) Surely our management hasn't just pulled the '$200m' number out of thin air?