And the bit I missed; there is already a US stockpile, Ed Conway mentions visiting a huge whare house in his book. It is managed by the Defence Logistic Agency (DLA). Unfortunately, as its funding is authorised directly from Congress, it's purchase contract says - this contract is to purchase xx MTU of X over 30 months, however this cont…

Alex - well written and explained.

I think that there is a piece missing from most analysis on floor pricing / stockpile buying / secure supply chains which relates to financing - debt most obviously because risk has a visible price, but equity as well because risk has a return profile.

We are in the process of financing a critical mineral…