CCCJ, you need to study the Chinese more carefully, they NEVER "go away", got their claws into MtP for chump change US$2M and Hotel California they'll never leave.
They control MtP via IP, solitary customer, and presumably supplying Chinese HRE for DoD tender, interesting the way the new IPO doc studiously avoided any reference to the Dragon.
Your Molymess story morphs with every telling, from painful losses, to not very much, to you got out ok, now wonderful profits, I'd rate the later with your levels of comprehension:
Moly produced nothing thru separation that was saleable as they never got it even close to specification due to major problems with plant design based around single 19ktpa circuit that will need to be almost totally rebuilt.
There was no "pilot plant", sheer fantasy, they did restart the legacy 3ktpa plant and for a few Q's off the back of the price bubble they were CF+, but Mark Smith dismantled it and sacked three experienced managers as soon as they started commissioning the new plant, which never produced anything but a few kt of concentrate each Q, which they shipped to China & Estonia.
MtP HAS to recycle water, it lives in the high desert, LAMP has a river, that's its cleaning up for Malaysia.
MtP HAS to generate its own electricity because it lives right at the very end of the grid and power is intermittent at best, LAMP enjoys relatively cheap electricity on a major industrial estate, and conveniently Petronas ran a gas trunk line right past the front gate.
MtP has a bunch of major issues to overcome, not least a lengthy commission period if the do manage to get it right, but the real issue that sank Moly has not gone away, the lack of an obvious customer base, certainly in line with their ambitions, not merely for NdPr but the full REO suite which in the case of MtP is +83% La/Ce. Never will they have a competitive cost base selling only 16% of what goes in the front end.
What I do find highly amusing is the resurrection of Moly's famous "mine to magnets" PR BS, was planning to save this for its 10th birthday 29th July but here's Moly's field of dreams from almost exactly a decade ago, gloss up, rinse & repeat:
https://www.sec.gov/Archives/edgar/data/1489137/000095012310070661/d70469b4e424b4.htm
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