I honestly don’t understand myself, only ASM know the reason why they are in this position.
What makes it even harder to understand, the KMP is located in the same business park as some of the worlds biggest end users and they have the full support of the South Korean government behind them!
They are not located in the middle of the outback!
I also don’t think they raised enough cash, we really don’t have as much money for feedstock as people think, this could be a problem.
Hyundai have gone quiet, most presumed once the MOD - 1 was approved Hyundai would resurface, but ASM didn’t even release this news to the market, they are hiring PR guys but then don’t promote the company when they have the perfect opportunity!
The whole thing is a bit of a mess to be honest, but then again any day now ASM could announce a 5 - 10 year metal sales agreement from the KMP and we are in the big time!
Maybe they are negotiating a deal for offtakes from the KMP and Dubbo with the same entity?
The demand is there and will only increase, regardless of any downturn, plus, if they want a secure supply of rare
earths from Dubbo they need to invest now as it will be 5 years before the first shipment leaves Dubbo to one of our metal plants!
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