Lol, obviously you also do need a basic lesson on ROI that...

Lol, obviously you also do need a basic lesson on ROI that should be underpinned by robust LT economics in any JORC. Why don't you take a look at the chart and take a guess where NTU morphed from failed uranium explorer to "heavies" darling:



Ashes to Ashes, Bust to Dust, DyO traded ~$90kg long prior the 2010 hysteria, the real Q is why can't return to those LT levels?

Two major Chinese mag makers spoke directly to continued Dy/Tb deletion up into the higher grades (quite contrary to PR here) just two weeks ago in HK, with the second specifically stating he could envisage a point where it was eliminated altogether.

Here's the current situation in manufacture, note particularly the higher grade UH pair bottom right:



Now look at the ongoing development in the high grades 2018:



Note the Coercivity, resistance to demagnetisation, remains static while Remanence, flux or "strength", actually increases as each process development deletes a greater proportion of Dy/Tb.

The economics should be blindingly obvious, not only a more cost effective magnet but smaller, lighter, stronger - powerful incentive to maintain the deletion R&D, attempting to further close the gap on the Japanese who are even further down the curve.

2018> "HRE usage is going to come down, way down"

Little reason to suspect price is not going to follow, most particularly as incremental ex China supply is developed to the Japanese, which is happening recycled phosphors as I type, spoke to the man last week, 0.7% Tb ain't that much of an ask.