Offtake/Finance wrap up, page-12

Yes Spendthrift, I hope you are right. I like Chok has explained above, read it as though the Rare Earth products being REO and German companies must be provided the opportunity to convert to metal or metal to final product final product. Hence the generous loan. Otherwise, the German off-take is very small in contrast to the funding.

If you are right, then I would expect the balance of the offtakes to then go to a German based company. I understand the German workforce is highly dependent on the vehicle industry, so maybe the surety of supply is crucial? Otherwise I am at baffled with how they would throw up US$600M in funding.

Chokdee, I’m using the 500T from that same announcement, or maybe it was a week prior. As the expected offtake (but ramped up over five years). So really not much going to Germany at all.