As much as I like extending out growth rates, I come at my...

As much as I like extending out growth rates, I come at my estimates of the future share price a different way. You can't invent new things in the periodic table. If you want to make an electric car go, you have to convert electrical energy to mechanical energy. The most efficient way to do this is to use the most powerful permanent magnet ever found (and probably ever will be found). Without a good way to convert your batteries' electrical energy to mechanical energy, your $30,000 electric car is just a $30,000 paperweight. The $100 worth of neodymium in the drive motor is just an afterthought. If it meant your company's electric car could go farther and faster, a car manufacturer will quickly pay 10 to 20 times that. I estimate the point of pain at which you would throw in the towel and build a second rate electric car is about 20 times the current price of neodymium. It may take 20 years to get there, but you'll pay up eventually. Lynas will definitely ramp up production over the years, and over the next 20 years I think we're looking at a 50 bagger.