NTU v. LYC v. the rest, page-39

Hi anndy,

Re. the LYC SEG product, I've asked the following questions of @ausheds previously to which he failed to respond, maybe you could help me out?

Hi@ausheds , re your Post #:52454066,do you have any details on LYC’s SEG product, such as current production rates, the total % of REO’s and assemblage? The only detail I can find is from the Lynas 2025 investor presentation (21^thMay 2019) in which they claimed to be producing 50 tpa Dy and 20 tpa Tb, and the 7^thJune 2019 presentation which states that have capacity to produce 1200 tpa of SEG oxide.

If they were producing the SEG at full 1200 tpa capacity that means the Dy content of the SEG was 4.17% and the Tb 1.67%. Compared to the NTU 52% carbonate spec. of 4.38%Dy2O3and .60%Tb4O7these are big figures, particularly as 20 tons of Tb which is valued over $US34m at current SSM pricing!

As you have said the Lynas MRE’s & HRE’sare a byproduct of Lynas’ NdPr production, so the incremental cost ofproduction should be far lower than NTU’s costs. Has LYC released any figures on their costs and margins on it’s SEG product?

I see now you claim in your post# 52919264 that the Dy and Tb content in the LYC SEG produced has increased to >125,000kg Dy and >50,000kg Tb, which according to the latest SMM spot prices (ex. VAT) would value the the Dy/Tb content as an oxide at over US$100m, and as contained metal elements at over US$127m!

If this were indeed the case I would have thought this would be worth a mention in their May 2021 investor presso, particularly as their 1H/21 sales revenue was reported as (A$?)202.5m, but I can't find anything... Perhaps you could point me in the direction of some relevent info.

Cheers,
marcus A.