Big dose of reality, page-100

I'm well aware of the costs of production that NTU have estimated. Could this be inaccurate once the plant has been commissioned - yep, absolutely. Does the Dy price need to rise substantially to make NTU a good investment- yep. But NTU do have an off take agreement and they're starting small which is a positive as opposed to Lynas who had massive cost and inefficiency blow outs and frankly they almost went under if not for Japanese assistance. NTU is running things differently - once the pilot plant is up and producing we'll soon find out whether it's been a good investment.