Samarium price is now more realistic for the ROW and that is important for GWG, because of samarium alloy production. Until now the price was way out of control.

It was the rare earth with the biggest margin for the Chinese to sell to the ROW. In Q2 it´s price was 82 dollar and neodymium was 122. In Q3 samarium had a price of 64 dollar and neodymium was 105. And all the time samarium´s price in china was even less than cerium or lanthanum.

Now today samarium´s price outside china is 27 dollar and neodymium is 83. Still too high, because the price of cerium outside of china is 15 dollar.

Samarium is not the biggest revenue producer for GWG, but the margin will improve the most ones GWG has its own supply from Steenkampskraal.

Q4 will certainly show a far better revenue and margin for LCM.