Q: your view on major news tonight
MOU with australia.
thanks
MOU with australia.
thanks
5i Research Answer:
The non-binding MOU is a supply deal that provides EFR with 7,000 tonnes of rare-earth bearing sand annually, starting in 2026 and ramping to 14,000 tonnes soon after. Under the current MOU, EFR would invest $122 mln US for 49% of the joint venture and $15.3 mln in shares to Astron. Astron would be the operator of the project. It looks like a good deal and secures more supply for EFR from a strategic perspective. The main caveat here is that this is a non-binding MOU and the due diligence process is continuing into March, so details here could still change.