Goal: Ucore market share, 20% of 15 to 16 billion per year.Dear Pip,
I thought we had put this to bed. Ucore's shares outstanding is the lowest of the group. Can they dilute more and still be the lowest? Yes, would we want them to, no! So give a rest. Dilution is last resort option. They prove to DOD that RSX can do what they claim it can. Believe me, money will not be a problem.
Am I happy with the dilution of shares? No! If I could corner Pat at a shareholder meeting. I would have some very pointed questions for him. I can understand, why they did what they did and other time I am asking why.
The plan right now is to have a SMC in LA, but where are the other two SMC going to be? Mostly like Canada to keep the Canadian government happy and maybe kicking money in to build it. Most likely near Vital metals mine. The third one, your guess is as good as mine. The only partnership that make sense is with MP and Lynas. Would the US government push it if it gave them more heavy REEs, oh yes. Definitely a possibility.
Off to dinner.
Dragon