RE:RE:RE:RE:The Cherry on the cake? NeodymiumGiven proximity, Albemarle is the most likely buyout candidate. In terms of timing/value I've drafted this for my own expectation:
1. Metallurgy proof is done and is likely the most important achievement in 2019.
2. With that proof in hand, discussions can begin.
3. Pilot plant is useful to tweak the process for the full scale plant considered in the FS but not necessary for offtake or buyout chatter. I've not included JV because I don't believe that mgt wants a JV. I think they want to sell.
4. A PFS(May 2019) is useful for mgt of acquisition company to take to their board to get buyout approval. The PFS can allow takeout discussions to turn serious due to this board approval due diligence requirement.
5. I think takeout offtake/takeout discussions are likely going on right now but will be further facilitated by the PFS. The buyer may not want the operation to include an offtake agreement as they have their own customers, so i think that this is also a potential that a buyout occurs w/o an offtake.
6. I am expecting a buyout of CYP in Q4.
7. Buyout value minimum: $250MM. Will adjust value expectation post PFS.