CRC has only 700 ton of heavy (DY , TB , EU and Y) , which are more rare , critical and costly. Remaining elements are light , which will be in surplus supply once MCP and Lynas becomes online.
Lets see home much HREE Ucore has. -Ucore has total 5.7 M tone rare deposite as per new cut-off grade. - Assuming 1% TREO gives 57000 Tones of TREO. - Ucore has around 40% HREE/TREE ratio which gives around = 22800 Tone of HREE (DY , EU , TB , Y).
Which is almost 29 times of HREE as compared to CRC HREE deposit.
On top of that CRC need 700M initial capital to develop project. I am sure this number will be around 200M for Ucore due to its excellent infrastructure.
With these number any educated person should be able to guess Ucore PPS post PEA announcement.
However, from the 4/18/12 press release (detailing Bokan mine design), where they increased the amount of tonnage to 5.3 million (at a 0.40% economic TREO%), I come up with just under 14K tons of HREE (at the 0.65% TREO average x 5.3 million tons x 40% HREE) for Ucore. Granted, your point is valid...be it 14K or 23K tons vs 700 tons for CCE, but I'm wondering what I am missing in my projections?