That's a rather disingenuous figure to be throwing around. I'd...

That's a rather disingenuous figure to be throwing around. I'd rather pay $130/(kg/annum) to build a mine that operates for fifty years than $130/(kg/annum) to build a mine that operates for five. Especially if the expected timeframe for payback is about five years (per the BFS).

Or, to put it another way, that figure does not take into account the expected mine life (26 years, likely to be higher given that they've only proven out the most profitable part of the resource - per the BFS, "only 22% of the Total Ngualla Mineral Resource estimate".) Granted that it's not as simple as dividing through by the expected mine life, given that there is a time factor associated with the cost of finance, but even so.

(Unless I'm misinterpreting what you mean by that figure, but it's too close to what I get from dividing the capex by the expected annual production of NdPr for me to think that's likely. Feel free to correct me if I'm misunderstanding.)