Ann: Browns Range Project & Financing Update, page-53

Lol, thought so, chased it down hard 4x.

Look at a 5yr chart, this thing is in a well established DT with the next target a LL < 5.7c, what % your portfolio to chase it down there?

Lol, "not really vulnerable", your comments get more humorous by the post, how about:

> the $10M prepayment doesn't front?

> the offtake MOU collapses:
a/ purchaser has sufficient feed stock on hand relative slow Dy demand?
b/ NTU can't satisfy the agreed grades/quantities?

> the plant doesn't function to design, or takes a year or more to bring up to spec?

> the mined grades fall short of JORC averages?

> the theoretical recoveries are well above what is achievable in practice, particularly first year or so?

Plenty more, but any could tank this precarious loss maker to a fresh low.

Punters would do well to read this published recently by CSIRO:

http://www.publish.csiro.au/ex/pdf/ASEG2018abT4_3E

"mining and separating REO from a higher grade LREO deposit may be a more cost-effective source of HREO than low grade, HREO-enriched deposits"

Lynas already has higher in-situ grades Tb & Dy @ Duncan but currently stock piling the HRE xenotime separated from the LRE Churchite from an incursion into the portion of CLD currently being mined. Be fascination to compare grades of Lynas stockpiled xenotime separated from the bulk mass vs that from NTU's low grade deposits, good chance they are multiples.