[VIDEO] Dreadnought Resources (ASX:DRE) Investor Webinar, page-15

"“If you look at the pricing on monazite concentrate and MREC they are essentially the same price”

Gets beyond my zone of comfort but FWIW

Would prefer DT to explain. But no-one asked in the webinar.

The Con and MREC do essentially have the same value in terms of product contained (Nd Pr Dy Te with others not valued (DT)). Essentially because there are losses inherent from ore to con to mrec to final. In this context I can see how the statement may work.

How much value comes back to the miner is another matter which you allude to - correctly IMO.

The MREC costs a lot of money and like smelters for base metal cons etc etc have their own pricing schemes which they hope to give them a profit at the end. They will not pay full value for contained product unless in a toll treatment agreement that covers their costs.

Toll treating of a concentrate as with any small Au deposit that can't afford/(choose not to have) their own plant.

Send out X g/t dirt and get charged for the processing to a dore bar which is then sold.

Ore is something that can be mined for a profit. Many factors (and sticky fingers) along the way to reduce that profit to the point where ore becomes waste.

===================
DRE have brought staff (1 announced anyway) on board with a view to going down this route. That this has happened suggests a lot of thought has gone into the idea of producing a Con, at least, has taken place at Board level.

A final decision on what to do is several studies away. Taking an aggressive approach early has pros and cons which you @2ic are well aware.