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?
PM8 Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
