Alkane is making a series of individual off-take agreements with separate vertically integrated refiners who themselves are also downstream end users and marketing experts in the products for which Alkane will provide the feedstock. This is an outstanding 21st-century business model that has allowed Alkane to create a synergistic revenue stream. In a sense, Alkane has become a mini-Glencore International Plc (GLEN:LSE), a vertically integrated trading company. This is a business model that I urge juniors with polymetallic deposits to emulate. These producers are all pushing the industry toward centralized HREE separation. It would make a lot of sense if individual producers focused on LREE separation and left the heavy concentrates to be toll processed centrally by one company. HREE separation is a capability today of the Rhodia division of Solvay Group (SOLB:NYX), which has a full-scale separation plant of 9,000 tpa in France that processes the total spectrum of REEs.