At the same time there will utility in looking more closely at the separations issues... there is also a fairly obvious "doorknob gap" that is apparent between the DD effort focused on considering the organizational issues... that has the discussion here solidly focused on where the puck used to be... not where it is... and not where it is going to be.
The DD effort here... is lagging now, well behind historic norms.
There isn't much being said, now, about any of the things that we KNOW are what Dahlman Rose has as their primary focus... the "connect the dots" effort in pairing a resource with the "end to end" management of the supply chain from the point of production to the end customer.
I don't see much effort applied either in the more speculative elements in considering SRSR's future potential role in meeting market requirements in the markets they will address...
I find that a particularly unusual oversight, given that SRSR isn't exactly a "hard case" in addressing those issues in DD.
The fact that SRSR is NOT going to be selling niobium by the pound from the web site, to home users paying with PayPal... points out that the required effort in market analysis isn't exactly rocket science...
Not sure why it is, but, miners apparently like to think about their community as being one that is fairly "small". That is true, in terms of there not being a lot of professional people involved in the industry, relative to the values being addressed by their efforts.
If "mining" is a fairly small community... the community of those mining specialty metals that are the target of the SRSR focus have to be... like a single postage stamp in the flow of the mail.
Considering the potential SRSR market... isn't that hard. There aren't that many major unknowns in their market. There aren't that many customers in their market. There aren't that many competitors... and not that many new entrants you have to consider in parsing the potential that SRSR is likely to be "the one" that breaks through the competitive barriers, to become the future supplier of choice for future producers. But, to figure out those things... you DO have to make the effort ? I've not seen much evidence that effort has been made... here.
While the "community" is small in terms of the numbers of potential participants... making the DD "not hard"... the values that are in play are NOT small... and the NUMBERS are HUGE.
Given that makes the effort in doing the DD "not hard"... while also making REALLY worth the effort in doing it, I find it pretty curious that there seems not to have been much effort made here, recently... to try to parse "where the puck will be".
JMHO
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