you are all clowns, page-7

I don't see too much lack of demand in the pipeline. Even with the most conservative projections.

Regardless, there is a worldwide geopolitical push to secure viable non-chinese supply. Look what happened when Japan recently locked up a Chinese boat captain. The Chinese cut off their REE exports to Japan (albeit temporarliy). Security safeguards alone will encourage the development of REE deposits even if prices soften because of it.

Basket prices have been falling for some time along with the market caps of listed REE stocks. But by my calcs Ngualla is steeply discounted despite the weaker market.