It appears that the off-take negotiations are for the sale of the rare earth feedstock from the extraction facility which is estimated to begin August 2021 so as to enable the design of the extraction facility to suit the off-take customer's requirements.
Meanwhile ore sorting operations are estimated to commence May/June 2021 which will produce the 35% initial benefication, which will be for sale, and provide finance for the construction for the extraction facility.
Who are the buyers of this initial 35% benefication ?
Are they the same ones who will be buying the feedstock from the extraction facility ?
Would be nice to know if there is a ready buyer for the 35% product come May/June otherwise it could be another capital raising.
VML General Comments - Chat, page-15
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