Journal · 2026-08-08
TREO is not payable. MagREO is not cash. The desk prices the magnet basket, then discounts radioactivity and China kit.
A 2% TREO carbonatite and a 0.3% ionic clay are not comparable until you split NdPr/Dy/Tb, payability, and the crack-leach flowsheet.
Juniors still lead with TREO grade. That number is a geology headline. Cerium and lanthanum are most of many Western carbonatites. The magnet bid is Nd, Pr, Dy, Tb — MagREO — and even that is in-ground, not payable after recovery, reject, and a $110/kg floor that may not apply to your spec.
Ionic clays look cheap on capex and rich on heavies, then die in reagent, water, and permitting. Hard-rock monazite looks simple until thorium licensing shows up. The compare tab on this desk uses contained MagREO and NdPr where reported, and leaves a blank when the company will not split the basket. Blank is information.
