Stoops, what I'm suggesting is TMR (spot basket) less 30% as a...

Stoops, what I'm suggesting is TMR (spot basket) less 30% as a practical LT offtake pricing. Had the opportunity to discuss this personally with Gareth Hatch who compiles TMR and is also a partner in the Canadian toll processing venture, so I figure he's on top of it.
Also correlates with JPM's estimates of Lynas's "realised" prices against spot basket which again correlates with Molymess's actual sales data against nominal basket.
For mine the reality is any meaningful LT offtake will be priced 30% sub spot basket. Now we're talking broad suite, where does Nd/Dy fit?

Was going to tack it elsewhere but work Jack's latest in and refigure the CUX process relevant to offtake potential. Hint: RE investment is so one dimensional when the market is so multi dimensional, or maybe it's the other way around, lol.

"Here is my caveat for both of my European and African survivors: It is a matter of survival, or critical-I can’t stop using these terms- for a rare earth junior to either produce and toll separate a radio-nuclide free, hopefully also lanthanum and cerium free, “concentrate,” or to separate, in-house, the neodymium-praseodymium, SEG, and HREE mixtures in its concentrate, first into classes, and then into the individual critical rare earths in a company owned separation plant purpose built for their needs. I think it is a waste of money to build further lanthanum cerium separation capacity at this time. The uses for lanthanum may already have peaked with A DEMAND less than the current SUPPLY. This has certainly already happened for cerium. Both lanthanum and cerium, as well as uranium and thorium, can be all or mostly removed from the process leach solution right after the ore leaching chemistry is complete. The resultant process leach solution will then be reduced in volume by up to ¾. Such a solution is MUCH CHEAPER to process and much more valuable than the original concentrate.

I have come to the conclusion that the best deposits from an economical point of view are those which, upon removal of the lanthanum and cerium from the output equation, are profitable. Such deposits are necessarily relatively high in SEG and/or HREE and/or Y to begin with. Also I only like deposits that are large but with the minimization of lanthanum and cerium have the lowest breakeven possible, so that they can produce critical rare earths profitably for a long mine life."

http://www.proedgewire.com/rare-earth-intel/the-rare-earth-space-a-culling-of-the-herd-and-the-survivors-part-2-europe-africa/