Is it time for Care and Maintenance?, page-64

Closest comparison to NTU suite is Jiangxi 92% con and I'd suggest GB is referring to the LIST price, reality is it trades ~US$18kg.

Now NTU are struggling to get recoveries anywhere near the contracted 52%, hence the need to add magnetic separation, but even if they do unlikely it would fetch US$4 ex Darwin.

Exactly how bad are current recoveries, not able to make a bare 52% from some of their better grade con?

While there certainly are other metrics the simple fact is when you start with ultra low grades, particularly with a less than robust JORC, you start with a tough cost/recovery equation.

Grade of In-Situ Rare-Earth Oxides (wt%), middle table here is a very useful cross comparison:

http://www.techmetalsresearch.com/metrics-indices/tmr-advanced-rare-earth-projects-index/

Click on the element in the header to rank the deposits high to low, lots of interesting stuff pops up:

DyO: Duncan is higher grade than NTU's Browns Range, and way more than ALK's DZP.

NdO: CLD @1.764% totally streets other Nd promoters aka Kvanefjeld @0.141%

Obviously not the full story but certainly the base line cost/recovery and really does tell a lot of the story NTU, what is the cost of recovery to a saleable product vs its sales value?

Pushing the proverbial uphill here I'm thinking.