Ann: Appendix 3B, page-59

You will learn, the hard way. Guarantee I've spent more time inside a RE processing plant than you, and more face time several experienced Met Eng's specific to RE, let alone mkt analysis. And I'm a couple of large in front as a consequence.

You keep totally avoiding the key Q here, what is the value of NTU's con ex Darwin? Surely with all the experience & confidence you boast you must have some basic concept of CoP & sales values? Really fundamental stuff.

Or are you just content in the hope the Australian taxpayer will bail you out? Frankly I don't think the "R&D" funding will come even close.

BTW, have you worked out why GB suddenly wants to be a LRE miner after talking with "permanent magnet producers in the US, Europe, South Korea and Japan"? (there are none of any consequence US, EU)

Argus Metals Sept Report:

"Dysprosium oxide exports totalled 67,619kg in the first seven
months of 2017, up by 74pc on the year, driven by demand
from Japan and South Korea, with export revenues of
$16.3mn and an average price of $240.80/kg."

Even with the mkt up the ROW on track for a massive $30M TO 2017, provided Japan keeps building inventory at the same rate H2.

Do you understand why Lynas haven't even bothered to toll the 50tpa DyO in their SEG/HRE?