NTU v. LYC v. the rest, page-2

Sorry no time ATM to break that down but your headline numbers are about right however where NTU produce their carbonate is irrelevant it is where they sell it that's important.

Currently they have a loose arrangement with a middleman/trader (who obviously take a margin) whereas the other producer of substantially more volume sells directly into Chinese separation companies, and as a by-product has the luxury to stockpile when prices are lower, and boost the Tb/Dy content from stockpiled Duncan xenotime when prices are higher, as now.

Hate to disappoint you but their projected HRE separation & finishing facility is NOT going to be a profit centre rather a strategic play to support principal earners NdPr/NdO.

Anticipated earnings <$10Mpa though that probably a tad higher at current prices, on significantly greater volume than NTU ever likely to generate. HRE is simply NOT the pot of gold as Lifton and other carnival barkers have promised, aside from costs simply have a hard look at projected volumes, bearing in mind higher prices will draw greater supply, have a look at some of the mineral sands/monazite plays.

No one is going to stump up $100M's CapEx on that scenario.