I received a note from Ron as follows:
Hi Jim
Thanks for the note.
We can't comment on Toyota's schedule, progress, or discussions while their due diligence is underway. The LOI goes until Jan 6, so we could be waiting until as late as then to make any comments. We obviously would love to do that as soon as we can but that would need to be agreed upon by both parties.
In terms of going to cobalt batteries (or any other battery technology), I guess we will need to see it when they start mass producing and shipping them out. We are not too concerned about whether automakers choose to go with Li, NiMH, Co or anything else that may be developed. It is important to keep the uses/demands for REE are much more than just batteries. That's only a small part of the overall sector. As more vehicle manufacturers go hybrid or electric, they will require REE magnets in the motors, and those are not small amounts. Keep in mind, the trend that is occuring with the windpower sector and the shift to permanent magnet generators. Many of the forward looking projections for REE demands do not consider such things as the wind sector.
Ron
