"the main challenge (at that future stage) is securing the...

"the main challenge (at that future stage) is securing the funding to build the plant, that is best for the company."

I do not see CAPEX being a challenge. Ionic clays need significantly less CAPEX than hard rock plays. From IXR "Low capex requirement to a mixed rare earth carbonate product – no cracking plant required – very simple"

On top of that our focus is on HREE and not MREE or LREE. As more RE supply comes on the market the LREE prices will be further depressed where mining HREE will still deliver very healthy margins.

IXR is a "higher" margin, "lower" CAPEX/OPEX play that should do very well considering the macro thematic.