This piece realy made me think. Your insight into the new supply dynamics is spot on. It makes me wonder, what if AI-driven exploration did reach a breakthrough eventually? Beyond 2028, could deep learning models redefine discovery timelines for these resources? It's a fascinating challenge.
Exceptional analysis of the TC/RC inversion as a structural signal rather than cyclical noise. The negative treatment charges aren't just a smelter margin squeeze but proof that concentrate scarcity has moved the bottleneck downstream. I saw similar dynamics in rare earth processing where upstream abundance didnt matter when refining capacity couldnt scale. The $12-15K incentive price floor calculation feels conservative given grade dilution rates are accelerating faster than most models account for.
This is Tier 1 analysis. An incredible level of balanced research and a stand out report on substack! Bravo.
This piece realy made me think. Your insight into the new supply dynamics is spot on. It makes me wonder, what if AI-driven exploration did reach a breakthrough eventually? Beyond 2028, could deep learning models redefine discovery timelines for these resources? It's a fascinating challenge.
Exceptional analysis of the TC/RC inversion as a structural signal rather than cyclical noise. The negative treatment charges aren't just a smelter margin squeeze but proof that concentrate scarcity has moved the bottleneck downstream. I saw similar dynamics in rare earth processing where upstream abundance didnt matter when refining capacity couldnt scale. The $12-15K incentive price floor calculation feels conservative given grade dilution rates are accelerating faster than most models account for.