RE:FinancialsYep, low level Cap Ex required for initial +CF.
Great attraction of this RE concept has always been its incremental nature off an extremely low CapEx base compared to any hard rock project.
For perspective US currently imports ~5ktpa NdFeB requiring ~1500tpa NdPr, Lynas could supply 1800tpa right now from unused capacity at LAMP, and add another 3200tpa to that quickly & easily.
None of the hard rock fantasies have come even close to finding a customer base to support their fairy wand production numbers, with the exception of Hastings who have just pulled off an extraordinary capital raise to fund initial construction.
MDL concept will allow them to build & expand a profitable business, anywhere in the world monazite waste can be sourced, off a very low CapEx base.
Already their beneficiation process is highly efficient in that they can discard low value cerium and reduce the mass that requires further processing by ~40%, as I understand it the chromatography separation process adds selectivity to that in that they can pull out what they can sell at profitable levels, i.e. the magnet metals Nd, Tb, Dy & Ho.
Promises to be a very cost effective & flexible process, off low CapEx & OpEx, agnostic to feed & geography.
One things for sure, I'll be writing them a cheque for my outstanding warrants well before July!