The Koreans are full of themselves and are now once more starting to see value in Dubbo right as Kwon Chil-Seung is readying to take Chair of the MSP. It also happens to coincide with ASMs latest grant from our government to support and identify lower capital and shorter implementation pathways to rare earth production.
This statement is typical of a mentality that would intentionally sideline a project that they feel they are entitled to 'the Korea Development Bank provided low-interest loans worth 22 billion won to KSM', not only that they allocated the land and bypassed regulatory approvals for a speedy construction of the KMP.
In early 2022 Woodall was convinced HEC would be acquiring 10% of ASMH shares for $125m US. Then what happened, they did not even meet the requested front-end engineering design and early design of key work package by mid 2023.
Time is always a leverage, and I can see the Chair Ian Gandel in having this philosophical experience.
Now I have been saying for a long time, at least get a planning approval for an Australian Metals Plant underway. You begin to understand the leverage that this would have on the Koreans thinking that we could very well shutter the KMP and bypass them altogether.
Good articles @schmoove, it gives an impression that the Koreans may be once again looking to be actively involved which if they are, is a good thing. Especially if is offtakes they are interested in. I am sure that the strategic investment is still open if they are interested.
ASM Price at posting:
58.5¢ Sentiment: None Disclosure: Held
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