RE: Market news29 Oct 2025 20:15
To correct what I said on before it is an evaluation study comparing solvent extraction with the CIC route with the results to be discussed in the near future. What is key in the trade off comparison is the power usage requirements, labour and capex costs of both routes. George assured that 99.5% purity was being achievable and the focus was the practicality issues of large plant operation being identified by the trade off study results.
In the background to all of this the CIC route attracted $50M funding and a strong link to USA government towards forward Capex costs. The CIC know how is being used in the downstream production which is 15% of total Capex and contributing to the revenue streams for TB and Dy. In addition the downstream development could be funded by EU or USA allowing the main focus on Capex to be at the front end MREP.
Overall, I disagree with the Reetech Mantra comment. The company has learned a great deal over the past few years. The company had to build up its skill base, it had to identify what resources it had acquired, it had to do a PEA exercise, they had to build a pilot plant, they needed to experiment with multiple approaches to see what could theoretically work they needed to see what was practical to take forward from a pilot to what is likely in a future plant operation. They needed to consider routes that were advantageous or becoming available in the near future. What will be interesting is to see who they will recruit in late 2026 to bring together a larger team to construct a full sized plant.
11 minutes and at 22-27 minutes in the presentation is worth a careful listen. Tony
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