Thanks for the post ttroy. Yes the Duncan deposit contains a...

Thanks for the post ttroy.

Yes the Duncan deposit contains a moderate improvement of HREO compared to CLD.
~13% last info source i had


Blending it with CLD takes overall HREO composition to around 10% HREO content. (depending on blend ratio).
Compared to most IAC's including the aforementioned stock ~40-45% HREO content.

The conversation was never about who would have more Dy coming out the backend. (See Bayan Obo's contained Dy/Tb as contained tonnage figure. It was about the comparative economic feasibility of building HREO separation facilities to process low HREO content hard-rock REO.

Namely indicating that typical hard-rock projects have an overall low heavy rare earth feedstock as percentage of the MREC with ~10% HREO vs 40% HREO fro IAC. It's typically why IAC's supply 95% of the global HREO. Not because it just seemed like a good idea, but because the AISC from mine to separate oxide for HREO (and the subsequent) plants are bespoke to targeting those (given the higher ratio to which they exist in the MREC). This exercise here will certainly be interesting to see, wtih greater western transparency to how economically it can be achieved and if LYC can't do it with it's superior head grade (offsetting mine and upstream processing costs) then no one in the hard rock space can. Exceptions are stocks with HREO biased basket (NTU).

The LYC plant is great step and the funding even better. They will for all intents and purposes probably produce more separated heavy's than most. Will be interesting to see if other third party feed sources are required or if the plan is sole sourced for LYC only. (i'd garner they'd build extra capacity and become a toll processor for others without a downstream option - make sense)

There's a reason they are worth 7-8Bn. Producing 1/4 or 1/3rd the amount of heavies would be an excellent place to land for most developers, especially those at 2% the market cap. (As to whom does more economically feasibility studies will need to wait)

SF2TH