US Venture..., page-36

Please explain how your conclusions relate to your correct facts. Let me explain some basic corporate finance so you can apply it. The top line in a balance sheet is Revenue.

Revenue is price time volume. Imposing any type of export restrictions causes a rise in price 99% of the time. So people bought on this expectation of higher prices.

REE prices have fallen for just over 2 years Profits are down as is SP . To support a SP of AUD 7.00 i have shown many times that NdPr prices have to be in the 750 to 850 range. Disagree show with facts and math what you think price needs to be.

Just for record this NdPr price is based on historical data on COP. I firmly believe that to a small extent we will see COP go up a little in 2024 SAR. The full effect will not be seen till 2025 SAR and AR. Right now i do not include the rising COP in my calculation Once it goes up i am sure the NdPr price range will rise by 50 ~ 100 RMB. based on Lynas making 10 KT of NdPr / Yr. Volume will also impact profits as well as many other things.

Just to get you started in SAR Revenue was AUD 240. profits were $39M so total expense were 201 M. From the P&L on page 17 of SAR https://wcsecure.weblink.com.au/pdf/LYC/02776752.pdf CoP was $159 M.

So i have done most of the work for you why don't you do the rest and give your numbers for NdPr price and any volume you want but pls tell what you used, based on what Lyna has done historically.


Thank you and BOL on your investing CJ