What changed: r5 to r6
Updated for completed Serra Verde acquisition with separate ramp, royalties, cash purchase and conditional funding.
Retrieval clocks and internal hashes are excluded. Changed source or accounting definitions are not automatically an economic restatement. The authored reason describes the destination revision.
| Field | Before | After |
|---|---|---|
| /business/description | USA Rare Earth, Inc.’s mission is to be a global leader in the supply of critical minerals and advanced materials and the partner of choice in producing rare earth elements, oxides, metals and magnets. Rare earth elements and critical minerals are vital inputs to end markets including national security, technological innovation, and the increasing number of advanced manufacturers who seek a reliable source of rare earth materials and magnets. We intend to deploy capital in effective and efficient ways to develop our assets and to deliver innovative, high-quality products to our partners and customers. We are building an integrated rare earth mine to magnet value chain that we project will be resilient through economic cycles, and well-positioned to meet today’s market dynamics and national security priorities. As we advance this strategy, we plan to deliver high‑margin organic growth driven by disciplined execution as we develop world‑class assets and capabilities. Our. | USA Rare Earth is building a rare-earth mining, alloy and magnet platform. It owns legacy metal and service operations and closed the Serra Verde acquisition in September 2026, adding the Pela Ema mine in Brazil. Mine ramp, accepted magnet output and financing conditions determine the path from construction to commercial cash flow. |
| /business/drivers/0 | We intend to deploy capital in effective and efficient ways to develop our assets and to deliver innovative, high-quality products to our partners and. | Post-close mine utilization, TREO realization and royalty burden |
| /business/drivers/1 | Our operating priorities are to: • develop our geologically unique Round Top Mountain HREE deposit (“Round Top Deposit”), which our analysis shows contains. | Qualified magnet shipments and legacy alloy margins |
| /business/drivers/2 | Our vision is to build a global rare earth value chain that combines the strategic advantages of integration with the commercial flexibility for each link to. | Capital investment, acquisition cash and conditional government funding |
| /estimates/basis | not yet estimated | Desk base scenario from the operating model; not consensus. Revenue basis: Consolidated revenue ($M). |
| /estimates/rows/2026Q3/as_of | None | 2026-09-19 |
| /estimates/rows/2026Q3/basis | None | Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance. |
| /estimates/rows/2026Q3/class | None | estimate |
| /estimates/rows/2026Q3/period | None | 2026Q3 |
| /estimates/rows/2026Q3/revenue | None | 9200000.000000002 |
| /estimates/rows/2026Q4/as_of | None | 2026-09-19 |
| /estimates/rows/2026Q4/basis | None | Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance. |
| /estimates/rows/2026Q4/class | None | estimate |
| /estimates/rows/2026Q4/period | None | 2026Q4 |
| /estimates/rows/2026Q4/revenue | None | 27500000.0 |
| /estimates/rows/2027Q1/as_of | None | 2026-09-19 |
| /estimates/rows/2027Q1/basis | None | Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance. |
| /estimates/rows/2027Q1/class | None | estimate |
| /estimates/rows/2027Q1/period | None | 2027Q1 |
| /estimates/rows/2027Q1/revenue | None | 40600000.0 |
| /estimates/rows/2027Q2/as_of | None | 2026-09-19 |
| /estimates/rows/2027Q2/basis | None | Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance. |
| /estimates/rows/2027Q2/class | None | estimate |
| /estimates/rows/2027Q2/period | None | 2027Q2 |
| /estimates/rows/2027Q2/revenue | None | 50700000.0 |
| /meta/business_authored | False | True |
| /meta/extract_accession | 0001970622-26-000021 | None |
| /meta/extract_filed | 2026-03-30 | None |
| /meta/extract_form | 10-K | None |
| /meta/extract_source | filing | authored |
| /meta/extract_url | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000021/usar-20251231.htm | None |
| /meta/research_reviewed_at | None | 2026-09-19 |
| /meta/research_stage | None | operating_scenarios |
| /meta/revision | 5 | 6 |
| /meta/skeleton | True | False |
| /model/quarters/2025-03-31/fiscal_label | 2026Q1 | 2025Q1 |
| /model/quarters/2025-06-30/fiscal_label | 2026Q2 | 2025Q2 |
| /operating_model/cells/acquisition_gross_cash:shared/basis | None | Furnished pro forma historical or transaction adjustment; not an actual September closing balance. |
| /operating_model/cells/acquisition_gross_cash:shared/case | None | shared |
| /operating_model/cells/acquisition_gross_cash:shared/id | None | acquisition_gross_cash |
| /operating_model/cells/acquisition_gross_cash:shared/kind | None | reported |
| /operating_model/cells/acquisition_gross_cash:shared/label | None | acquisition gross cash |
| /operating_model/cells/acquisition_gross_cash:shared/period | None | Pro forma / closing reference |
| /operating_model/cells/acquisition_gross_cash:shared/source_date | None | 2026-09-04 |
| /operating_model/cells/acquisition_gross_cash:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026097399/ea030400101ex99-3.htm |
| /operating_model/cells/acquisition_gross_cash:shared/unit | None | USD_millions |
| /operating_model/cells/acquisition_gross_cash:shared/value | None | 300.0 |
| /operating_model/cells/acquisition_shares:shared/basis | None | Closing consideration in millions of shares; not the combined diluted denominator. |
| /operating_model/cells/acquisition_shares:shared/case | None | shared |
| /operating_model/cells/acquisition_shares:shared/id | None | acquisition_shares |
| /operating_model/cells/acquisition_shares:shared/kind | None | reported |
| /operating_model/cells/acquisition_shares:shared/label | None | USAR shares issued for Serra Verde |
| /operating_model/cells/acquisition_shares:shared/period | None | 2026-09-03 |
| /operating_model/cells/acquisition_shares:shared/source_date | None | 2026-09-04 |
| /operating_model/cells/acquisition_shares:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026097399/ea030400101ex99-1.htm |
| /operating_model/cells/acquisition_shares:shared/unit | None | shares_millions |
| /operating_model/cells/acquisition_shares:shared/value | None | 126.849307 |
| /operating_model/cells/base_2026q3_acquired_cash:base/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/base_2026q3_acquired_cash:base/case | None | base |
| /operating_model/cells/base_2026q3_acquired_cash:base/id | None | base_2026q3_acquired_cash |
| /operating_model/cells/base_2026q3_acquired_cash:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_acquired_cash:base/label | None | Cash acquired at closing |
| /operating_model/cells/base_2026q3_acquired_cash:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_acquired_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_acquired_cash:base/value | None | 140.0 |
| /operating_model/cells/base_2026q3_acquisition_cash:base/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/base_2026q3_acquisition_cash:base/case | None | base |
| /operating_model/cells/base_2026q3_acquisition_cash:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q3_acquisition_cash:base/formula/refs/0 | None | acquisition_gross_cash |
| /operating_model/cells/base_2026q3_acquisition_cash:base/formula/refs/1 | None | base_2026q3_acquired_cash |
| /operating_model/cells/base_2026q3_acquisition_cash:base/id | None | base_2026q3_acquisition_cash |
| /operating_model/cells/base_2026q3_acquisition_cash:base/kind | None | derived |
| /operating_model/cells/base_2026q3_acquisition_cash:base/label | None | Net acquisition cash |
| /operating_model/cells/base_2026q3_acquisition_cash:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_acquisition_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_acquisition_cash:base/value | None | 160.0 |
| /operating_model/cells/base_2026q3_average_capacity:base/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/base_2026q3_average_capacity:base/case | None | base |
| /operating_model/cells/base_2026q3_average_capacity:base/id | None | base_2026q3_average_capacity |
| /operating_model/cells/base_2026q3_average_capacity:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_average_capacity:base/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/base_2026q3_average_capacity:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_average_capacity:base/unit | None | ratio |
| /operating_model/cells/base_2026q3_average_capacity:base/value | None | 4000.0 |
| /operating_model/cells/base_2026q3_capex:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_capex:base/case | None | base |
| /operating_model/cells/base_2026q3_capex:base/id | None | base_2026q3_capex |
| /operating_model/cells/base_2026q3_capex:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_capex:base/label | None | Cash capex and equipment deposits |
| /operating_model/cells/base_2026q3_capex:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_capex:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_capex:base/value | None | 100.0 |
| /operating_model/cells/base_2026q3_cash_after_investing:base/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/base_2026q3_cash_after_investing:base/case | None | base |
| /operating_model/cells/base_2026q3_cash_after_investing:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q3_cash_after_investing:base/formula/refs/0 | None | base_2026q3_fcf |
| /operating_model/cells/base_2026q3_cash_after_investing:base/formula/refs/1 | None | base_2026q3_other_investing |
| /operating_model/cells/base_2026q3_cash_after_investing:base/id | None | base_2026q3_cash_after_investing |
| /operating_model/cells/base_2026q3_cash_after_investing:base/kind | None | derived |
| /operating_model/cells/base_2026q3_cash_after_investing:base/label | None | Cash after business investing |
| /operating_model/cells/base_2026q3_cash_after_investing:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_cash_after_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_cash_after_investing:base/value | None | -391.18162500000005 |
| /operating_model/cells/base_2026q3_cash_earnings:base/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/base_2026q3_cash_earnings:base/case | None | base |
| /operating_model/cells/base_2026q3_cash_earnings:base/formula/op | None | sum |
| /operating_model/cells/base_2026q3_cash_earnings:base/formula/refs/0 | None | base_2026q3_operating_income |
| /operating_model/cells/base_2026q3_cash_earnings:base/formula/refs/1 | None | base_2026q3_da |
| /operating_model/cells/base_2026q3_cash_earnings:base/formula/refs/2 | None | base_2026q3_sbc |
| /operating_model/cells/base_2026q3_cash_earnings:base/formula/refs/3 | None | base_2026q3_treasury_income |
| /operating_model/cells/base_2026q3_cash_earnings:base/id | None | base_2026q3_cash_earnings |
| /operating_model/cells/base_2026q3_cash_earnings:base/kind | None | derived |
| /operating_model/cells/base_2026q3_cash_earnings:base/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/base_2026q3_cash_earnings:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_cash_earnings:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_cash_earnings:base/value | None | -113.58266666666668 |
| /operating_model/cells/base_2026q3_cash_overhead:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_cash_overhead:base/case | None | base |
| /operating_model/cells/base_2026q3_cash_overhead:base/id | None | base_2026q3_cash_overhead |
| /operating_model/cells/base_2026q3_cash_overhead:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_cash_overhead:base/label | None | Cash SG&A and development |
| /operating_model/cells/base_2026q3_cash_overhead:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_cash_overhead:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_cash_overhead:base/value | None | 40.0 |
| /operating_model/cells/base_2026q3_cash_tax:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_cash_tax:base/case | None | base |
| /operating_model/cells/base_2026q3_cash_tax:base/id | None | base_2026q3_cash_tax |
| /operating_model/cells/base_2026q3_cash_tax:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_cash_tax:base/label | None | Cash taxes |
| /operating_model/cells/base_2026q3_cash_tax:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_cash_tax:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_cash_tax:base/value | None | 0.5 |
| /operating_model/cells/base_2026q3_cfo:base/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/base_2026q3_cfo:base/case | None | base |
| /operating_model/cells/base_2026q3_cfo:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q3_cfo:base/formula/refs/0 | None | base_2026q3_cash_earnings |
| /operating_model/cells/base_2026q3_cfo:base/formula/refs/1 | None | base_2026q3_operating_cash_uses |
| /operating_model/cells/base_2026q3_cfo:base/id | None | base_2026q3_cfo |
| /operating_model/cells/base_2026q3_cfo:base/kind | None | derived |
| /operating_model/cells/base_2026q3_cfo:base/label | None | Operating cash flow proxy |
| /operating_model/cells/base_2026q3_cfo:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_cfo:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_cfo:base/value | None | -131.18162500000003 |
| /operating_model/cells/base_2026q3_da:base/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/base_2026q3_da:base/case | None | base |
| /operating_model/cells/base_2026q3_da:base/id | None | base_2026q3_da |
| /operating_model/cells/base_2026q3_da:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_da:base/label | None | Consolidated operating D&A |
| /operating_model/cells/base_2026q3_da:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_da:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_da:base/value | None | 5.0 |
| /operating_model/cells/base_2026q3_dfc_interest:base/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/base_2026q3_dfc_interest:base/case | None | base |
| /operating_model/cells/base_2026q3_dfc_interest:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q3_dfc_interest:base/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/base_2026q3_dfc_interest:base/formula/refs/1 | None | base_2026q3_dfc_rate |
| /operating_model/cells/base_2026q3_dfc_interest:base/formula/refs/2 | None | base_2026q3_interest_fraction |
| /operating_model/cells/base_2026q3_dfc_interest:base/id | None | base_2026q3_dfc_interest |
| /operating_model/cells/base_2026q3_dfc_interest:base/kind | None | derived |
| /operating_model/cells/base_2026q3_dfc_interest:base/label | None | DFC cash coupon proxy |
| /operating_model/cells/base_2026q3_dfc_interest:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_dfc_interest:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_dfc_interest:base/value | None | 2.098958333333333 |
| /operating_model/cells/base_2026q3_dfc_rate:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_dfc_rate:base/case | None | base |
| /operating_model/cells/base_2026q3_dfc_rate:base/id | None | base_2026q3_dfc_rate |
| /operating_model/cells/base_2026q3_dfc_rate:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_dfc_rate:base/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/base_2026q3_dfc_rate:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_dfc_rate:base/unit | None | ratio |
| /operating_model/cells/base_2026q3_dfc_rate:base/value | None | 0.0775 |
| /operating_model/cells/base_2026q3_fcf:base/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/base_2026q3_fcf:base/case | None | base |
| /operating_model/cells/base_2026q3_fcf:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q3_fcf:base/formula/refs/0 | None | base_2026q3_cfo |
| /operating_model/cells/base_2026q3_fcf:base/formula/refs/1 | None | base_2026q3_capex |
| /operating_model/cells/base_2026q3_fcf:base/id | None | base_2026q3_fcf |
| /operating_model/cells/base_2026q3_fcf:base/kind | None | derived |
| /operating_model/cells/base_2026q3_fcf:base/label | None | CFO less cash capital investment |
| /operating_model/cells/base_2026q3_fcf:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_fcf:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_fcf:base/value | None | -231.18162500000003 |
| /operating_model/cells/base_2026q3_gross_contribution:base/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/base_2026q3_gross_contribution:base/case | None | base |
| /operating_model/cells/base_2026q3_gross_contribution:base/formula/op | None | sum |
| /operating_model/cells/base_2026q3_gross_contribution:base/formula/refs/0 | None | base_2026q3_legacy_gross |
| /operating_model/cells/base_2026q3_gross_contribution:base/formula/refs/1 | None | base_2026q3_mine_gross |
| /operating_model/cells/base_2026q3_gross_contribution:base/formula/refs/2 | None | base_2026q3_magnet_gross |
| /operating_model/cells/base_2026q3_gross_contribution:base/id | None | base_2026q3_gross_contribution |
| /operating_model/cells/base_2026q3_gross_contribution:base/kind | None | derived |
| /operating_model/cells/base_2026q3_gross_contribution:base/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/base_2026q3_gross_contribution:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_gross_contribution:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_gross_contribution:base/value | None | -1.4566666666666672 |
| /operating_model/cells/base_2026q3_interest_fraction:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_interest_fraction:base/case | None | base |
| /operating_model/cells/base_2026q3_interest_fraction:base/id | None | base_2026q3_interest_fraction |
| /operating_model/cells/base_2026q3_interest_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_interest_fraction:base/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/base_2026q3_interest_fraction:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_interest_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2026q3_interest_fraction:base/value | None | 0.08333333333333333 |
| /operating_model/cells/base_2026q3_legacy_gross:base/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/base_2026q3_legacy_gross:base/case | None | base |
| /operating_model/cells/base_2026q3_legacy_gross:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q3_legacy_gross:base/formula/refs/0 | None | base_2026q3_legacy_revenue |
| /operating_model/cells/base_2026q3_legacy_gross:base/formula/refs/1 | None | base_2026q3_legacy_margin |
| /operating_model/cells/base_2026q3_legacy_gross:base/id | None | base_2026q3_legacy_gross |
| /operating_model/cells/base_2026q3_legacy_gross:base/kind | None | derived |
| /operating_model/cells/base_2026q3_legacy_gross:base/label | None | Legacy cash gross contribution |
| /operating_model/cells/base_2026q3_legacy_gross:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_legacy_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_legacy_gross:base/value | None | 1.17 |
| /operating_model/cells/base_2026q3_legacy_margin:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_legacy_margin:base/case | None | base |
| /operating_model/cells/base_2026q3_legacy_margin:base/id | None | base_2026q3_legacy_margin |
| /operating_model/cells/base_2026q3_legacy_margin:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_legacy_margin:base/label | None | Legacy margin before D&A |
| /operating_model/cells/base_2026q3_legacy_margin:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_legacy_margin:base/unit | None | ratio |
| /operating_model/cells/base_2026q3_legacy_margin:base/value | None | 0.18 |
| /operating_model/cells/base_2026q3_legacy_revenue:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_legacy_revenue:base/case | None | base |
| /operating_model/cells/base_2026q3_legacy_revenue:base/id | None | base_2026q3_legacy_revenue |
| /operating_model/cells/base_2026q3_legacy_revenue:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_legacy_revenue:base/label | None | Legacy alloy and services revenue |
| /operating_model/cells/base_2026q3_legacy_revenue:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_legacy_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_legacy_revenue:base/value | None | 6.5 |
| /operating_model/cells/base_2026q3_magnet_gross:base/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/base_2026q3_magnet_gross:base/case | None | base |
| /operating_model/cells/base_2026q3_magnet_gross:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q3_magnet_gross:base/formula/refs/0 | None | base_2026q3_magnet_revenue |
| /operating_model/cells/base_2026q3_magnet_gross:base/formula/refs/1 | None | base_2026q3_magnet_margin |
| /operating_model/cells/base_2026q3_magnet_gross:base/id | None | base_2026q3_magnet_gross |
| /operating_model/cells/base_2026q3_magnet_gross:base/kind | None | derived |
| /operating_model/cells/base_2026q3_magnet_gross:base/label | None | Magnet ramp cash contribution |
| /operating_model/cells/base_2026q3_magnet_gross:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_magnet_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_magnet_gross:base/value | None | -0.24 |
| /operating_model/cells/base_2026q3_magnet_margin:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_magnet_margin:base/case | None | base |
| /operating_model/cells/base_2026q3_magnet_margin:base/id | None | base_2026q3_magnet_margin |
| /operating_model/cells/base_2026q3_magnet_margin:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_magnet_margin:base/label | None | Magnet cash gross margin |
| /operating_model/cells/base_2026q3_magnet_margin:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_magnet_margin:base/unit | None | ratio |
| /operating_model/cells/base_2026q3_magnet_margin:base/value | None | -0.8 |
| /operating_model/cells/base_2026q3_magnet_price:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_magnet_price:base/case | None | base |
| /operating_model/cells/base_2026q3_magnet_price:base/id | None | base_2026q3_magnet_price |
| /operating_model/cells/base_2026q3_magnet_price:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_magnet_price:base/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/base_2026q3_magnet_price:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_magnet_price:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_magnet_price:base/value | None | 0.06 |
| /operating_model/cells/base_2026q3_magnet_revenue:base/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/base_2026q3_magnet_revenue:base/case | None | base |
| /operating_model/cells/base_2026q3_magnet_revenue:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q3_magnet_revenue:base/formula/refs/0 | None | base_2026q3_magnet_tonnes |
| /operating_model/cells/base_2026q3_magnet_revenue:base/formula/refs/1 | None | base_2026q3_magnet_price |
| /operating_model/cells/base_2026q3_magnet_revenue:base/id | None | base_2026q3_magnet_revenue |
| /operating_model/cells/base_2026q3_magnet_revenue:base/kind | None | derived |
| /operating_model/cells/base_2026q3_magnet_revenue:base/label | None | Accepted magnet sales |
| /operating_model/cells/base_2026q3_magnet_revenue:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_magnet_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_magnet_revenue:base/value | None | 0.3 |
| /operating_model/cells/base_2026q3_magnet_tonnes:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_magnet_tonnes:base/case | None | base |
| /operating_model/cells/base_2026q3_magnet_tonnes:base/id | None | base_2026q3_magnet_tonnes |
| /operating_model/cells/base_2026q3_magnet_tonnes:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_magnet_tonnes:base/label | None | Accepted external magnet tonnes |
| /operating_model/cells/base_2026q3_magnet_tonnes:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_magnet_tonnes:base/unit | None | ratio |
| /operating_model/cells/base_2026q3_magnet_tonnes:base/value | None | 5.0 |
| /operating_model/cells/base_2026q3_mine_cash_cost:base/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/base_2026q3_mine_cash_cost:base/case | None | base |
| /operating_model/cells/base_2026q3_mine_cash_cost:base/formula/op | None | sum |
| /operating_model/cells/base_2026q3_mine_cash_cost:base/formula/refs/0 | None | base_2026q3_mine_variable_cost |
| /operating_model/cells/base_2026q3_mine_cash_cost:base/formula/refs/1 | None | base_2026q3_mine_fixed_cost |
| /operating_model/cells/base_2026q3_mine_cash_cost:base/id | None | base_2026q3_mine_cash_cost |
| /operating_model/cells/base_2026q3_mine_cash_cost:base/kind | None | derived |
| /operating_model/cells/base_2026q3_mine_cash_cost:base/label | None | Mine cash production cost |
| /operating_model/cells/base_2026q3_mine_cash_cost:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_mine_cash_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_mine_cash_cost:base/value | None | 4.786666666666667 |
| /operating_model/cells/base_2026q3_mine_fixed_cost:base/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/base_2026q3_mine_fixed_cost:base/case | None | base |
| /operating_model/cells/base_2026q3_mine_fixed_cost:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q3_mine_fixed_cost:base/formula/refs/0 | None | base_2026q3_mine_fixed_full |
| /operating_model/cells/base_2026q3_mine_fixed_cost:base/formula/refs/1 | None | base_2026q3_ownership_fraction |
| /operating_model/cells/base_2026q3_mine_fixed_cost:base/id | None | base_2026q3_mine_fixed_cost |
| /operating_model/cells/base_2026q3_mine_fixed_cost:base/kind | None | derived |
| /operating_model/cells/base_2026q3_mine_fixed_cost:base/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/base_2026q3_mine_fixed_cost:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_mine_fixed_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_mine_fixed_cost:base/value | None | 3.6666666666666665 |
| /operating_model/cells/base_2026q3_mine_fixed_full:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_mine_fixed_full:base/case | None | base |
| /operating_model/cells/base_2026q3_mine_fixed_full:base/id | None | base_2026q3_mine_fixed_full |
| /operating_model/cells/base_2026q3_mine_fixed_full:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_mine_fixed_full:base/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/base_2026q3_mine_fixed_full:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_mine_fixed_full:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_mine_fixed_full:base/value | None | 11.0 |
| /operating_model/cells/base_2026q3_mine_gross:base/basis | None | Royalty below contribution. |
| /operating_model/cells/base_2026q3_mine_gross:base/case | None | base |
| /operating_model/cells/base_2026q3_mine_gross:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q3_mine_gross:base/formula/refs/0 | None | base_2026q3_mine_revenue |
| /operating_model/cells/base_2026q3_mine_gross:base/formula/refs/1 | None | base_2026q3_mine_cash_cost |
| /operating_model/cells/base_2026q3_mine_gross:base/id | None | base_2026q3_mine_gross |
| /operating_model/cells/base_2026q3_mine_gross:base/kind | None | derived |
| /operating_model/cells/base_2026q3_mine_gross:base/label | None | Mine revenue less cash production |
| /operating_model/cells/base_2026q3_mine_gross:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_mine_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_mine_gross:base/value | None | -2.386666666666667 |
| /operating_model/cells/base_2026q3_mine_revenue:base/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/base_2026q3_mine_revenue:base/case | None | base |
| /operating_model/cells/base_2026q3_mine_revenue:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q3_mine_revenue:base/formula/refs/0 | None | base_2026q3_recognized_tonnes |
| /operating_model/cells/base_2026q3_mine_revenue:base/formula/refs/1 | None | base_2026q3_treo_price |
| /operating_model/cells/base_2026q3_mine_revenue:base/id | None | base_2026q3_mine_revenue |
| /operating_model/cells/base_2026q3_mine_revenue:base/kind | None | derived |
| /operating_model/cells/base_2026q3_mine_revenue:base/label | None | Post-close TREO revenue |
| /operating_model/cells/base_2026q3_mine_revenue:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_mine_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_mine_revenue:base/value | None | 2.4 |
| /operating_model/cells/base_2026q3_mine_unit_cost:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_mine_unit_cost:base/case | None | base |
| /operating_model/cells/base_2026q3_mine_unit_cost:base/id | None | base_2026q3_mine_unit_cost |
| /operating_model/cells/base_2026q3_mine_unit_cost:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_mine_unit_cost:base/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/base_2026q3_mine_unit_cost:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_mine_unit_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_mine_unit_cost:base/value | None | 0.014 |
| /operating_model/cells/base_2026q3_mine_utilization:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_mine_utilization:base/case | None | base |
| /operating_model/cells/base_2026q3_mine_utilization:base/id | None | base_2026q3_mine_utilization |
| /operating_model/cells/base_2026q3_mine_utilization:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_mine_utilization:base/label | None | Capacity to recognized sales factor |
| /operating_model/cells/base_2026q3_mine_utilization:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_mine_utilization:base/unit | None | ratio |
| /operating_model/cells/base_2026q3_mine_utilization:base/value | None | 0.24 |
| /operating_model/cells/base_2026q3_mine_variable_cost:base/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/base_2026q3_mine_variable_cost:base/case | None | base |
| /operating_model/cells/base_2026q3_mine_variable_cost:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q3_mine_variable_cost:base/formula/refs/0 | None | base_2026q3_recognized_tonnes |
| /operating_model/cells/base_2026q3_mine_variable_cost:base/formula/refs/1 | None | base_2026q3_mine_unit_cost |
| /operating_model/cells/base_2026q3_mine_variable_cost:base/id | None | base_2026q3_mine_variable_cost |
| /operating_model/cells/base_2026q3_mine_variable_cost:base/kind | None | derived |
| /operating_model/cells/base_2026q3_mine_variable_cost:base/label | None | Variable mine cash cost |
| /operating_model/cells/base_2026q3_mine_variable_cost:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_mine_variable_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_mine_variable_cost:base/value | None | 1.12 |
| /operating_model/cells/base_2026q3_minority_investment:base/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/base_2026q3_minority_investment:base/case | None | base |
| /operating_model/cells/base_2026q3_minority_investment:base/id | None | base_2026q3_minority_investment |
| /operating_model/cells/base_2026q3_minority_investment:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_minority_investment:base/label | None | Carester minority investment cash |
| /operating_model/cells/base_2026q3_minority_investment:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_minority_investment:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_minority_investment:base/value | None | 0.0 |
| /operating_model/cells/base_2026q3_operating_cash_uses:base/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/base_2026q3_operating_cash_uses:base/case | None | base |
| /operating_model/cells/base_2026q3_operating_cash_uses:base/formula/op | None | sum |
| /operating_model/cells/base_2026q3_operating_cash_uses:base/formula/refs/0 | None | base_2026q3_dfc_interest |
| /operating_model/cells/base_2026q3_operating_cash_uses:base/formula/refs/1 | None | base_2026q3_cash_tax |
| /operating_model/cells/base_2026q3_operating_cash_uses:base/formula/refs/2 | None | base_2026q3_working_capital |
| /operating_model/cells/base_2026q3_operating_cash_uses:base/id | None | base_2026q3_operating_cash_uses |
| /operating_model/cells/base_2026q3_operating_cash_uses:base/kind | None | derived |
| /operating_model/cells/base_2026q3_operating_cash_uses:base/label | None | Interest tax and working-capital use |
| /operating_model/cells/base_2026q3_operating_cash_uses:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_operating_cash_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_operating_cash_uses:base/value | None | 17.598958333333332 |
| /operating_model/cells/base_2026q3_operating_costs:base/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/base_2026q3_operating_costs:base/case | None | base |
| /operating_model/cells/base_2026q3_operating_costs:base/formula/op | None | sum |
| /operating_model/cells/base_2026q3_operating_costs:base/formula/refs/0 | None | base_2026q3_cash_overhead |
| /operating_model/cells/base_2026q3_operating_costs:base/formula/refs/1 | None | base_2026q3_royalty_cash |
| /operating_model/cells/base_2026q3_operating_costs:base/formula/refs/2 | None | base_2026q3_da |
| /operating_model/cells/base_2026q3_operating_costs:base/formula/refs/3 | None | base_2026q3_sbc |
| /operating_model/cells/base_2026q3_operating_costs:base/formula/refs/4 | None | base_2026q3_transaction_cost |
| /operating_model/cells/base_2026q3_operating_costs:base/id | None | base_2026q3_operating_costs |
| /operating_model/cells/base_2026q3_operating_costs:base/kind | None | derived |
| /operating_model/cells/base_2026q3_operating_costs:base/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/base_2026q3_operating_costs:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_operating_costs:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_operating_costs:base/value | None | 135.126 |
| /operating_model/cells/base_2026q3_operating_income:base/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/base_2026q3_operating_income:base/case | None | base |
| /operating_model/cells/base_2026q3_operating_income:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q3_operating_income:base/formula/refs/0 | None | base_2026q3_gross_contribution |
| /operating_model/cells/base_2026q3_operating_income:base/formula/refs/1 | None | base_2026q3_operating_costs |
| /operating_model/cells/base_2026q3_operating_income:base/id | None | base_2026q3_operating_income |
| /operating_model/cells/base_2026q3_operating_income:base/kind | None | derived |
| /operating_model/cells/base_2026q3_operating_income:base/label | None | Operating income proxy |
| /operating_model/cells/base_2026q3_operating_income:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_operating_income:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_operating_income:base/value | None | -136.58266666666668 |
| /operating_model/cells/base_2026q3_other_investing:base/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/base_2026q3_other_investing:base/case | None | base |
| /operating_model/cells/base_2026q3_other_investing:base/formula/op | None | sum |
| /operating_model/cells/base_2026q3_other_investing:base/formula/refs/0 | None | base_2026q3_acquisition_cash |
| /operating_model/cells/base_2026q3_other_investing:base/formula/refs/1 | None | base_2026q3_minority_investment |
| /operating_model/cells/base_2026q3_other_investing:base/id | None | base_2026q3_other_investing |
| /operating_model/cells/base_2026q3_other_investing:base/kind | None | derived |
| /operating_model/cells/base_2026q3_other_investing:base/label | None | Acquisition and minority cash |
| /operating_model/cells/base_2026q3_other_investing:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_other_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_other_investing:base/value | None | 160.0 |
| /operating_model/cells/base_2026q3_ownership_fraction:base/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/base_2026q3_ownership_fraction:base/case | None | base |
| /operating_model/cells/base_2026q3_ownership_fraction:base/id | None | base_2026q3_ownership_fraction |
| /operating_model/cells/base_2026q3_ownership_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_ownership_fraction:base/label | None | Consolidated fraction of quarter |
| /operating_model/cells/base_2026q3_ownership_fraction:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_ownership_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2026q3_ownership_fraction:base/value | None | 0.3333333333333333 |
| /operating_model/cells/base_2026q3_quarter_fraction:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_quarter_fraction:base/case | None | base |
| /operating_model/cells/base_2026q3_quarter_fraction:base/id | None | base_2026q3_quarter_fraction |
| /operating_model/cells/base_2026q3_quarter_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_quarter_fraction:base/label | None | Annual-to-quarter fraction |
| /operating_model/cells/base_2026q3_quarter_fraction:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_quarter_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2026q3_quarter_fraction:base/value | None | 0.25 |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/case | None | base |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/formula/refs/0 | None | base_2026q3_average_capacity |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/formula/refs/1 | None | base_2026q3_quarter_fraction |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/formula/refs/2 | None | base_2026q3_mine_utilization |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/formula/refs/3 | None | base_2026q3_ownership_fraction |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/id | None | base_2026q3_recognized_tonnes |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/kind | None | derived |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/unit | None | ratio |
| /operating_model/cells/base_2026q3_recognized_tonnes:base/value | None | 80.0 |
| /operating_model/cells/base_2026q3_revenue:base/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/base_2026q3_revenue:base/case | None | base |
| /operating_model/cells/base_2026q3_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_2026q3_revenue:base/formula/refs/0 | None | base_2026q3_legacy_revenue |
| /operating_model/cells/base_2026q3_revenue:base/formula/refs/1 | None | base_2026q3_mine_revenue |
| /operating_model/cells/base_2026q3_revenue:base/formula/refs/2 | None | base_2026q3_magnet_revenue |
| /operating_model/cells/base_2026q3_revenue:base/id | None | base_2026q3_revenue |
| /operating_model/cells/base_2026q3_revenue:base/kind | None | derived |
| /operating_model/cells/base_2026q3_revenue:base/label | None | Consolidated revenue |
| /operating_model/cells/base_2026q3_revenue:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_revenue:base/value | None | 9.200000000000001 |
| /operating_model/cells/base_2026q3_royalty_cash:base/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/base_2026q3_royalty_cash:base/case | None | base |
| /operating_model/cells/base_2026q3_royalty_cash:base/formula/op | None | sum |
| /operating_model/cells/base_2026q3_royalty_cash:base/formula/refs/0 | None | base_2026q3_royalty_variable |
| /operating_model/cells/base_2026q3_royalty_cash:base/formula/refs/1 | None | base_2026q3_royalty_topup |
| /operating_model/cells/base_2026q3_royalty_cash:base/id | None | base_2026q3_royalty_cash |
| /operating_model/cells/base_2026q3_royalty_cash:base/kind | None | derived |
| /operating_model/cells/base_2026q3_royalty_cash:base/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/base_2026q3_royalty_cash:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_royalty_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_royalty_cash:base/value | None | 2.126 |
| /operating_model/cells/base_2026q3_royalty_topup:base/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/base_2026q3_royalty_topup:base/case | None | base |
| /operating_model/cells/base_2026q3_royalty_topup:base/id | None | base_2026q3_royalty_topup |
| /operating_model/cells/base_2026q3_royalty_topup:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_royalty_topup:base/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/base_2026q3_royalty_topup:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_royalty_topup:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_royalty_topup:base/value | None | 2.0 |
| /operating_model/cells/base_2026q3_royalty_variable:base/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/base_2026q3_royalty_variable:base/case | None | base |
| /operating_model/cells/base_2026q3_royalty_variable:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q3_royalty_variable:base/formula/refs/0 | None | base_2026q3_mine_revenue |
| /operating_model/cells/base_2026q3_royalty_variable:base/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/base_2026q3_royalty_variable:base/id | None | base_2026q3_royalty_variable |
| /operating_model/cells/base_2026q3_royalty_variable:base/kind | None | derived |
| /operating_model/cells/base_2026q3_royalty_variable:base/label | None | Variable mine royalty |
| /operating_model/cells/base_2026q3_royalty_variable:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_royalty_variable:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_royalty_variable:base/value | None | 0.126 |
| /operating_model/cells/base_2026q3_sbc:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_sbc:base/case | None | base |
| /operating_model/cells/base_2026q3_sbc:base/id | None | base_2026q3_sbc |
| /operating_model/cells/base_2026q3_sbc:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_sbc:base/label | None | Operating SBC |
| /operating_model/cells/base_2026q3_sbc:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_sbc:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_sbc:base/value | None | 8.0 |
| /operating_model/cells/base_2026q3_transaction_cost:base/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/base_2026q3_transaction_cost:base/case | None | base |
| /operating_model/cells/base_2026q3_transaction_cost:base/id | None | base_2026q3_transaction_cost |
| /operating_model/cells/base_2026q3_transaction_cost:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_transaction_cost:base/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/base_2026q3_transaction_cost:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_transaction_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_transaction_cost:base/value | None | 80.0 |
| /operating_model/cells/base_2026q3_treasury_income:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_treasury_income:base/case | None | base |
| /operating_model/cells/base_2026q3_treasury_income:base/id | None | base_2026q3_treasury_income |
| /operating_model/cells/base_2026q3_treasury_income:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_treasury_income:base/label | None | Cash treasury income |
| /operating_model/cells/base_2026q3_treasury_income:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_treasury_income:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_treasury_income:base/value | None | 10.0 |
| /operating_model/cells/base_2026q3_treo_price:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_treo_price:base/case | None | base |
| /operating_model/cells/base_2026q3_treo_price:base/id | None | base_2026q3_treo_price |
| /operating_model/cells/base_2026q3_treo_price:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_treo_price:base/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/base_2026q3_treo_price:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_treo_price:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_treo_price:base/value | None | 0.03 |
| /operating_model/cells/base_2026q3_working_capital:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q3_working_capital:base/case | None | base |
| /operating_model/cells/base_2026q3_working_capital:base/id | None | base_2026q3_working_capital |
| /operating_model/cells/base_2026q3_working_capital:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_working_capital:base/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/base_2026q3_working_capital:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_working_capital:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_working_capital:base/value | None | 15.0 |
| /operating_model/cells/base_2026q4_acquired_cash:base/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/base_2026q4_acquired_cash:base/case | None | base |
| /operating_model/cells/base_2026q4_acquired_cash:base/id | None | base_2026q4_acquired_cash |
| /operating_model/cells/base_2026q4_acquired_cash:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_acquired_cash:base/label | None | Cash acquired at closing |
| /operating_model/cells/base_2026q4_acquired_cash:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_acquired_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_acquired_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2026q4_acquisition_cash:base/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/base_2026q4_acquisition_cash:base/case | None | base |
| /operating_model/cells/base_2026q4_acquisition_cash:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q4_acquisition_cash:base/formula/refs/0 | None | base_2026q4_new_acquisition |
| /operating_model/cells/base_2026q4_acquisition_cash:base/formula/refs/1 | None | base_2026q4_acquired_cash |
| /operating_model/cells/base_2026q4_acquisition_cash:base/id | None | base_2026q4_acquisition_cash |
| /operating_model/cells/base_2026q4_acquisition_cash:base/kind | None | derived |
| /operating_model/cells/base_2026q4_acquisition_cash:base/label | None | Net acquisition cash |
| /operating_model/cells/base_2026q4_acquisition_cash:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_acquisition_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_acquisition_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2026q4_average_capacity:base/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/base_2026q4_average_capacity:base/case | None | base |
| /operating_model/cells/base_2026q4_average_capacity:base/id | None | base_2026q4_average_capacity |
| /operating_model/cells/base_2026q4_average_capacity:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_average_capacity:base/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/base_2026q4_average_capacity:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_average_capacity:base/unit | None | ratio |
| /operating_model/cells/base_2026q4_average_capacity:base/value | None | 4000.0 |
| /operating_model/cells/base_2026q4_capex:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_capex:base/case | None | base |
| /operating_model/cells/base_2026q4_capex:base/id | None | base_2026q4_capex |
| /operating_model/cells/base_2026q4_capex:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_capex:base/label | None | Cash capex and equipment deposits |
| /operating_model/cells/base_2026q4_capex:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_capex:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_capex:base/value | None | 130.0 |
| /operating_model/cells/base_2026q4_cash_after_investing:base/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/base_2026q4_cash_after_investing:base/case | None | base |
| /operating_model/cells/base_2026q4_cash_after_investing:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q4_cash_after_investing:base/formula/refs/0 | None | base_2026q4_fcf |
| /operating_model/cells/base_2026q4_cash_after_investing:base/formula/refs/1 | None | base_2026q4_other_investing |
| /operating_model/cells/base_2026q4_cash_after_investing:base/id | None | base_2026q4_cash_after_investing |
| /operating_model/cells/base_2026q4_cash_after_investing:base/kind | None | derived |
| /operating_model/cells/base_2026q4_cash_after_investing:base/label | None | Cash after business investing |
| /operating_model/cells/base_2026q4_cash_after_investing:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_cash_after_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_cash_after_investing:base/value | None | -249.076875 |
| /operating_model/cells/base_2026q4_cash_earnings:base/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/base_2026q4_cash_earnings:base/case | None | base |
| /operating_model/cells/base_2026q4_cash_earnings:base/formula/op | None | sum |
| /operating_model/cells/base_2026q4_cash_earnings:base/formula/refs/0 | None | base_2026q4_operating_income |
| /operating_model/cells/base_2026q4_cash_earnings:base/formula/refs/1 | None | base_2026q4_da |
| /operating_model/cells/base_2026q4_cash_earnings:base/formula/refs/2 | None | base_2026q4_sbc |
| /operating_model/cells/base_2026q4_cash_earnings:base/formula/refs/3 | None | base_2026q4_treasury_income |
| /operating_model/cells/base_2026q4_cash_earnings:base/id | None | base_2026q4_cash_earnings |
| /operating_model/cells/base_2026q4_cash_earnings:base/kind | None | derived |
| /operating_model/cells/base_2026q4_cash_earnings:base/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/base_2026q4_cash_earnings:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_cash_earnings:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_cash_earnings:base/value | None | -59.879999999999995 |
| /operating_model/cells/base_2026q4_cash_overhead:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_cash_overhead:base/case | None | base |
| /operating_model/cells/base_2026q4_cash_overhead:base/id | None | base_2026q4_cash_overhead |
| /operating_model/cells/base_2026q4_cash_overhead:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_cash_overhead:base/label | None | Cash SG&A and development |
| /operating_model/cells/base_2026q4_cash_overhead:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_cash_overhead:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_cash_overhead:base/value | None | 43.0 |
| /operating_model/cells/base_2026q4_cash_tax:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_cash_tax:base/case | None | base |
| /operating_model/cells/base_2026q4_cash_tax:base/id | None | base_2026q4_cash_tax |
| /operating_model/cells/base_2026q4_cash_tax:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_cash_tax:base/label | None | Cash taxes |
| /operating_model/cells/base_2026q4_cash_tax:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_cash_tax:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_cash_tax:base/value | None | 0.5 |
| /operating_model/cells/base_2026q4_cfo:base/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/base_2026q4_cfo:base/case | None | base |
| /operating_model/cells/base_2026q4_cfo:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q4_cfo:base/formula/refs/0 | None | base_2026q4_cash_earnings |
| /operating_model/cells/base_2026q4_cfo:base/formula/refs/1 | None | base_2026q4_operating_cash_uses |
| /operating_model/cells/base_2026q4_cfo:base/id | None | base_2026q4_cfo |
| /operating_model/cells/base_2026q4_cfo:base/kind | None | derived |
| /operating_model/cells/base_2026q4_cfo:base/label | None | Operating cash flow proxy |
| /operating_model/cells/base_2026q4_cfo:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_cfo:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_cfo:base/value | None | -86.676875 |
| /operating_model/cells/base_2026q4_da:base/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/base_2026q4_da:base/case | None | base |
| /operating_model/cells/base_2026q4_da:base/id | None | base_2026q4_da |
| /operating_model/cells/base_2026q4_da:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_da:base/label | None | Consolidated operating D&A |
| /operating_model/cells/base_2026q4_da:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_da:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_da:base/value | None | 8.0 |
| /operating_model/cells/base_2026q4_dfc_interest:base/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/base_2026q4_dfc_interest:base/case | None | base |
| /operating_model/cells/base_2026q4_dfc_interest:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q4_dfc_interest:base/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/base_2026q4_dfc_interest:base/formula/refs/1 | None | base_2026q4_dfc_rate |
| /operating_model/cells/base_2026q4_dfc_interest:base/formula/refs/2 | None | base_2026q4_interest_fraction |
| /operating_model/cells/base_2026q4_dfc_interest:base/id | None | base_2026q4_dfc_interest |
| /operating_model/cells/base_2026q4_dfc_interest:base/kind | None | derived |
| /operating_model/cells/base_2026q4_dfc_interest:base/label | None | DFC cash coupon proxy |
| /operating_model/cells/base_2026q4_dfc_interest:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_dfc_interest:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_dfc_interest:base/value | None | 6.296875 |
| /operating_model/cells/base_2026q4_dfc_rate:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_dfc_rate:base/case | None | base |
| /operating_model/cells/base_2026q4_dfc_rate:base/id | None | base_2026q4_dfc_rate |
| /operating_model/cells/base_2026q4_dfc_rate:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_dfc_rate:base/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/base_2026q4_dfc_rate:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_dfc_rate:base/unit | None | ratio |
| /operating_model/cells/base_2026q4_dfc_rate:base/value | None | 0.0775 |
| /operating_model/cells/base_2026q4_fcf:base/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/base_2026q4_fcf:base/case | None | base |
| /operating_model/cells/base_2026q4_fcf:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q4_fcf:base/formula/refs/0 | None | base_2026q4_cfo |
| /operating_model/cells/base_2026q4_fcf:base/formula/refs/1 | None | base_2026q4_capex |
| /operating_model/cells/base_2026q4_fcf:base/id | None | base_2026q4_fcf |
| /operating_model/cells/base_2026q4_fcf:base/kind | None | derived |
| /operating_model/cells/base_2026q4_fcf:base/label | None | CFO less cash capital investment |
| /operating_model/cells/base_2026q4_fcf:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_fcf:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_fcf:base/value | None | -216.676875 |
| /operating_model/cells/base_2026q4_gross_contribution:base/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/base_2026q4_gross_contribution:base/case | None | base |
| /operating_model/cells/base_2026q4_gross_contribution:base/formula/op | None | sum |
| /operating_model/cells/base_2026q4_gross_contribution:base/formula/refs/0 | None | base_2026q4_legacy_gross |
| /operating_model/cells/base_2026q4_gross_contribution:base/formula/refs/1 | None | base_2026q4_mine_gross |
| /operating_model/cells/base_2026q4_gross_contribution:base/formula/refs/2 | None | base_2026q4_magnet_gross |
| /operating_model/cells/base_2026q4_gross_contribution:base/id | None | base_2026q4_gross_contribution |
| /operating_model/cells/base_2026q4_gross_contribution:base/kind | None | derived |
| /operating_model/cells/base_2026q4_gross_contribution:base/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/base_2026q4_gross_contribution:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_gross_contribution:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_gross_contribution:base/value | None | -0.9349999999999987 |
| /operating_model/cells/base_2026q4_interest_fraction:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_interest_fraction:base/case | None | base |
| /operating_model/cells/base_2026q4_interest_fraction:base/id | None | base_2026q4_interest_fraction |
| /operating_model/cells/base_2026q4_interest_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_interest_fraction:base/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/base_2026q4_interest_fraction:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_interest_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2026q4_interest_fraction:base/value | None | 0.25 |
| /operating_model/cells/base_2026q4_legacy_gross:base/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/base_2026q4_legacy_gross:base/case | None | base |
| /operating_model/cells/base_2026q4_legacy_gross:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q4_legacy_gross:base/formula/refs/0 | None | base_2026q4_legacy_revenue |
| /operating_model/cells/base_2026q4_legacy_gross:base/formula/refs/1 | None | base_2026q4_legacy_margin |
| /operating_model/cells/base_2026q4_legacy_gross:base/id | None | base_2026q4_legacy_gross |
| /operating_model/cells/base_2026q4_legacy_gross:base/kind | None | derived |
| /operating_model/cells/base_2026q4_legacy_gross:base/label | None | Legacy cash gross contribution |
| /operating_model/cells/base_2026q4_legacy_gross:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_legacy_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_legacy_gross:base/value | None | 1.44 |
| /operating_model/cells/base_2026q4_legacy_margin:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_legacy_margin:base/case | None | base |
| /operating_model/cells/base_2026q4_legacy_margin:base/id | None | base_2026q4_legacy_margin |
| /operating_model/cells/base_2026q4_legacy_margin:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_legacy_margin:base/label | None | Legacy margin before D&A |
| /operating_model/cells/base_2026q4_legacy_margin:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_legacy_margin:base/unit | None | ratio |
| /operating_model/cells/base_2026q4_legacy_margin:base/value | None | 0.18 |
| /operating_model/cells/base_2026q4_legacy_revenue:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_legacy_revenue:base/case | None | base |
| /operating_model/cells/base_2026q4_legacy_revenue:base/id | None | base_2026q4_legacy_revenue |
| /operating_model/cells/base_2026q4_legacy_revenue:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_legacy_revenue:base/label | None | Legacy alloy and services revenue |
| /operating_model/cells/base_2026q4_legacy_revenue:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_legacy_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_legacy_revenue:base/value | None | 8.0 |
| /operating_model/cells/base_2026q4_magnet_gross:base/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/base_2026q4_magnet_gross:base/case | None | base |
| /operating_model/cells/base_2026q4_magnet_gross:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q4_magnet_gross:base/formula/refs/0 | None | base_2026q4_magnet_revenue |
| /operating_model/cells/base_2026q4_magnet_gross:base/formula/refs/1 | None | base_2026q4_magnet_margin |
| /operating_model/cells/base_2026q4_magnet_gross:base/id | None | base_2026q4_magnet_gross |
| /operating_model/cells/base_2026q4_magnet_gross:base/kind | None | derived |
| /operating_model/cells/base_2026q4_magnet_gross:base/label | None | Magnet ramp cash contribution |
| /operating_model/cells/base_2026q4_magnet_gross:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_magnet_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_magnet_gross:base/value | None | -0.9750000000000001 |
| /operating_model/cells/base_2026q4_magnet_margin:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_magnet_margin:base/case | None | base |
| /operating_model/cells/base_2026q4_magnet_margin:base/id | None | base_2026q4_magnet_margin |
| /operating_model/cells/base_2026q4_magnet_margin:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_magnet_margin:base/label | None | Magnet cash gross margin |
| /operating_model/cells/base_2026q4_magnet_margin:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_magnet_margin:base/unit | None | ratio |
| /operating_model/cells/base_2026q4_magnet_margin:base/value | None | -0.65 |
| /operating_model/cells/base_2026q4_magnet_price:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_magnet_price:base/case | None | base |
| /operating_model/cells/base_2026q4_magnet_price:base/id | None | base_2026q4_magnet_price |
| /operating_model/cells/base_2026q4_magnet_price:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_magnet_price:base/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/base_2026q4_magnet_price:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_magnet_price:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_magnet_price:base/value | None | 0.06 |
| /operating_model/cells/base_2026q4_magnet_revenue:base/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/base_2026q4_magnet_revenue:base/case | None | base |
| /operating_model/cells/base_2026q4_magnet_revenue:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q4_magnet_revenue:base/formula/refs/0 | None | base_2026q4_magnet_tonnes |
| /operating_model/cells/base_2026q4_magnet_revenue:base/formula/refs/1 | None | base_2026q4_magnet_price |
| /operating_model/cells/base_2026q4_magnet_revenue:base/id | None | base_2026q4_magnet_revenue |
| /operating_model/cells/base_2026q4_magnet_revenue:base/kind | None | derived |
| /operating_model/cells/base_2026q4_magnet_revenue:base/label | None | Accepted magnet sales |
| /operating_model/cells/base_2026q4_magnet_revenue:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_magnet_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_magnet_revenue:base/value | None | 1.5 |
| /operating_model/cells/base_2026q4_magnet_tonnes:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_magnet_tonnes:base/case | None | base |
| /operating_model/cells/base_2026q4_magnet_tonnes:base/id | None | base_2026q4_magnet_tonnes |
| /operating_model/cells/base_2026q4_magnet_tonnes:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_magnet_tonnes:base/label | None | Accepted external magnet tonnes |
| /operating_model/cells/base_2026q4_magnet_tonnes:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_magnet_tonnes:base/unit | None | ratio |
| /operating_model/cells/base_2026q4_magnet_tonnes:base/value | None | 25.0 |
| /operating_model/cells/base_2026q4_mine_cash_cost:base/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/base_2026q4_mine_cash_cost:base/case | None | base |
| /operating_model/cells/base_2026q4_mine_cash_cost:base/formula/op | None | sum |
| /operating_model/cells/base_2026q4_mine_cash_cost:base/formula/refs/0 | None | base_2026q4_mine_variable_cost |
| /operating_model/cells/base_2026q4_mine_cash_cost:base/formula/refs/1 | None | base_2026q4_mine_fixed_cost |
| /operating_model/cells/base_2026q4_mine_cash_cost:base/id | None | base_2026q4_mine_cash_cost |
| /operating_model/cells/base_2026q4_mine_cash_cost:base/kind | None | derived |
| /operating_model/cells/base_2026q4_mine_cash_cost:base/label | None | Mine cash production cost |
| /operating_model/cells/base_2026q4_mine_cash_cost:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_mine_cash_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_mine_cash_cost:base/value | None | 19.4 |
| /operating_model/cells/base_2026q4_mine_fixed_cost:base/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/base_2026q4_mine_fixed_cost:base/case | None | base |
| /operating_model/cells/base_2026q4_mine_fixed_cost:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q4_mine_fixed_cost:base/formula/refs/0 | None | base_2026q4_mine_fixed_full |
| /operating_model/cells/base_2026q4_mine_fixed_cost:base/formula/refs/1 | None | base_2026q4_ownership_fraction |
| /operating_model/cells/base_2026q4_mine_fixed_cost:base/id | None | base_2026q4_mine_fixed_cost |
| /operating_model/cells/base_2026q4_mine_fixed_cost:base/kind | None | derived |
| /operating_model/cells/base_2026q4_mine_fixed_cost:base/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/base_2026q4_mine_fixed_cost:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_mine_fixed_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_mine_fixed_cost:base/value | None | 11.0 |
| /operating_model/cells/base_2026q4_mine_fixed_full:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_mine_fixed_full:base/case | None | base |
| /operating_model/cells/base_2026q4_mine_fixed_full:base/id | None | base_2026q4_mine_fixed_full |
| /operating_model/cells/base_2026q4_mine_fixed_full:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_mine_fixed_full:base/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/base_2026q4_mine_fixed_full:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_mine_fixed_full:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_mine_fixed_full:base/value | None | 11.0 |
| /operating_model/cells/base_2026q4_mine_gross:base/basis | None | Royalty below contribution. |
| /operating_model/cells/base_2026q4_mine_gross:base/case | None | base |
| /operating_model/cells/base_2026q4_mine_gross:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q4_mine_gross:base/formula/refs/0 | None | base_2026q4_mine_revenue |
| /operating_model/cells/base_2026q4_mine_gross:base/formula/refs/1 | None | base_2026q4_mine_cash_cost |
| /operating_model/cells/base_2026q4_mine_gross:base/id | None | base_2026q4_mine_gross |
| /operating_model/cells/base_2026q4_mine_gross:base/kind | None | derived |
| /operating_model/cells/base_2026q4_mine_gross:base/label | None | Mine revenue less cash production |
| /operating_model/cells/base_2026q4_mine_gross:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_mine_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_mine_gross:base/value | None | -1.3999999999999986 |
| /operating_model/cells/base_2026q4_mine_revenue:base/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/base_2026q4_mine_revenue:base/case | None | base |
| /operating_model/cells/base_2026q4_mine_revenue:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q4_mine_revenue:base/formula/refs/0 | None | base_2026q4_recognized_tonnes |
| /operating_model/cells/base_2026q4_mine_revenue:base/formula/refs/1 | None | base_2026q4_treo_price |
| /operating_model/cells/base_2026q4_mine_revenue:base/id | None | base_2026q4_mine_revenue |
| /operating_model/cells/base_2026q4_mine_revenue:base/kind | None | derived |
| /operating_model/cells/base_2026q4_mine_revenue:base/label | None | Post-close TREO revenue |
| /operating_model/cells/base_2026q4_mine_revenue:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_mine_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_mine_revenue:base/value | None | 18.0 |
| /operating_model/cells/base_2026q4_mine_unit_cost:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_mine_unit_cost:base/case | None | base |
| /operating_model/cells/base_2026q4_mine_unit_cost:base/id | None | base_2026q4_mine_unit_cost |
| /operating_model/cells/base_2026q4_mine_unit_cost:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_mine_unit_cost:base/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/base_2026q4_mine_unit_cost:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_mine_unit_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_mine_unit_cost:base/value | None | 0.014 |
| /operating_model/cells/base_2026q4_mine_utilization:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_mine_utilization:base/case | None | base |
| /operating_model/cells/base_2026q4_mine_utilization:base/id | None | base_2026q4_mine_utilization |
| /operating_model/cells/base_2026q4_mine_utilization:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_mine_utilization:base/label | None | Capacity to recognized sales factor |
| /operating_model/cells/base_2026q4_mine_utilization:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_mine_utilization:base/unit | None | ratio |
| /operating_model/cells/base_2026q4_mine_utilization:base/value | None | 0.6 |
| /operating_model/cells/base_2026q4_mine_variable_cost:base/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/base_2026q4_mine_variable_cost:base/case | None | base |
| /operating_model/cells/base_2026q4_mine_variable_cost:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q4_mine_variable_cost:base/formula/refs/0 | None | base_2026q4_recognized_tonnes |
| /operating_model/cells/base_2026q4_mine_variable_cost:base/formula/refs/1 | None | base_2026q4_mine_unit_cost |
| /operating_model/cells/base_2026q4_mine_variable_cost:base/id | None | base_2026q4_mine_variable_cost |
| /operating_model/cells/base_2026q4_mine_variable_cost:base/kind | None | derived |
| /operating_model/cells/base_2026q4_mine_variable_cost:base/label | None | Variable mine cash cost |
| /operating_model/cells/base_2026q4_mine_variable_cost:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_mine_variable_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_mine_variable_cost:base/value | None | 8.4 |
| /operating_model/cells/base_2026q4_minority_investment:base/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/base_2026q4_minority_investment:base/case | None | base |
| /operating_model/cells/base_2026q4_minority_investment:base/id | None | base_2026q4_minority_investment |
| /operating_model/cells/base_2026q4_minority_investment:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_minority_investment:base/label | None | Carester minority investment cash |
| /operating_model/cells/base_2026q4_minority_investment:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_minority_investment:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_minority_investment:base/value | None | 32.4 |
| /operating_model/cells/base_2026q4_new_acquisition:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_new_acquisition:base/case | None | base |
| /operating_model/cells/base_2026q4_new_acquisition:base/id | None | base_2026q4_new_acquisition |
| /operating_model/cells/base_2026q4_new_acquisition:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_new_acquisition:base/label | None | Other acquisition purchase cash |
| /operating_model/cells/base_2026q4_new_acquisition:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_new_acquisition:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_new_acquisition:base/value | None | 0.0 |
| /operating_model/cells/base_2026q4_operating_cash_uses:base/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/base_2026q4_operating_cash_uses:base/case | None | base |
| /operating_model/cells/base_2026q4_operating_cash_uses:base/formula/op | None | sum |
| /operating_model/cells/base_2026q4_operating_cash_uses:base/formula/refs/0 | None | base_2026q4_dfc_interest |
| /operating_model/cells/base_2026q4_operating_cash_uses:base/formula/refs/1 | None | base_2026q4_cash_tax |
| /operating_model/cells/base_2026q4_operating_cash_uses:base/formula/refs/2 | None | base_2026q4_working_capital |
| /operating_model/cells/base_2026q4_operating_cash_uses:base/id | None | base_2026q4_operating_cash_uses |
| /operating_model/cells/base_2026q4_operating_cash_uses:base/kind | None | derived |
| /operating_model/cells/base_2026q4_operating_cash_uses:base/label | None | Interest tax and working-capital use |
| /operating_model/cells/base_2026q4_operating_cash_uses:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_operating_cash_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_operating_cash_uses:base/value | None | 26.796875 |
| /operating_model/cells/base_2026q4_operating_costs:base/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/base_2026q4_operating_costs:base/case | None | base |
| /operating_model/cells/base_2026q4_operating_costs:base/formula/op | None | sum |
| /operating_model/cells/base_2026q4_operating_costs:base/formula/refs/0 | None | base_2026q4_cash_overhead |
| /operating_model/cells/base_2026q4_operating_costs:base/formula/refs/1 | None | base_2026q4_royalty_cash |
| /operating_model/cells/base_2026q4_operating_costs:base/formula/refs/2 | None | base_2026q4_da |
| /operating_model/cells/base_2026q4_operating_costs:base/formula/refs/3 | None | base_2026q4_sbc |
| /operating_model/cells/base_2026q4_operating_costs:base/formula/refs/4 | None | base_2026q4_transaction_cost |
| /operating_model/cells/base_2026q4_operating_costs:base/id | None | base_2026q4_operating_costs |
| /operating_model/cells/base_2026q4_operating_costs:base/kind | None | derived |
| /operating_model/cells/base_2026q4_operating_costs:base/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/base_2026q4_operating_costs:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_operating_costs:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_operating_costs:base/value | None | 85.945 |
| /operating_model/cells/base_2026q4_operating_income:base/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/base_2026q4_operating_income:base/case | None | base |
| /operating_model/cells/base_2026q4_operating_income:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q4_operating_income:base/formula/refs/0 | None | base_2026q4_gross_contribution |
| /operating_model/cells/base_2026q4_operating_income:base/formula/refs/1 | None | base_2026q4_operating_costs |
| /operating_model/cells/base_2026q4_operating_income:base/id | None | base_2026q4_operating_income |
| /operating_model/cells/base_2026q4_operating_income:base/kind | None | derived |
| /operating_model/cells/base_2026q4_operating_income:base/label | None | Operating income proxy |
| /operating_model/cells/base_2026q4_operating_income:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_operating_income:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_operating_income:base/value | None | -86.88 |
| /operating_model/cells/base_2026q4_other_investing:base/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/base_2026q4_other_investing:base/case | None | base |
| /operating_model/cells/base_2026q4_other_investing:base/formula/op | None | sum |
| /operating_model/cells/base_2026q4_other_investing:base/formula/refs/0 | None | base_2026q4_acquisition_cash |
| /operating_model/cells/base_2026q4_other_investing:base/formula/refs/1 | None | base_2026q4_minority_investment |
| /operating_model/cells/base_2026q4_other_investing:base/id | None | base_2026q4_other_investing |
| /operating_model/cells/base_2026q4_other_investing:base/kind | None | derived |
| /operating_model/cells/base_2026q4_other_investing:base/label | None | Acquisition and minority cash |
| /operating_model/cells/base_2026q4_other_investing:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_other_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_other_investing:base/value | None | 32.4 |
| /operating_model/cells/base_2026q4_ownership_fraction:base/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/base_2026q4_ownership_fraction:base/case | None | base |
| /operating_model/cells/base_2026q4_ownership_fraction:base/id | None | base_2026q4_ownership_fraction |
| /operating_model/cells/base_2026q4_ownership_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_ownership_fraction:base/label | None | Consolidated fraction of quarter |
| /operating_model/cells/base_2026q4_ownership_fraction:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_ownership_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2026q4_ownership_fraction:base/value | None | 1.0 |
| /operating_model/cells/base_2026q4_quarter_fraction:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_quarter_fraction:base/case | None | base |
| /operating_model/cells/base_2026q4_quarter_fraction:base/id | None | base_2026q4_quarter_fraction |
| /operating_model/cells/base_2026q4_quarter_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_quarter_fraction:base/label | None | Annual-to-quarter fraction |
| /operating_model/cells/base_2026q4_quarter_fraction:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_quarter_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2026q4_quarter_fraction:base/value | None | 0.25 |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/case | None | base |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/formula/refs/0 | None | base_2026q4_average_capacity |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/formula/refs/1 | None | base_2026q4_quarter_fraction |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/formula/refs/2 | None | base_2026q4_mine_utilization |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/formula/refs/3 | None | base_2026q4_ownership_fraction |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/id | None | base_2026q4_recognized_tonnes |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/kind | None | derived |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/unit | None | ratio |
| /operating_model/cells/base_2026q4_recognized_tonnes:base/value | None | 600.0 |
| /operating_model/cells/base_2026q4_revenue:base/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/base_2026q4_revenue:base/case | None | base |
| /operating_model/cells/base_2026q4_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_2026q4_revenue:base/formula/refs/0 | None | base_2026q4_legacy_revenue |
| /operating_model/cells/base_2026q4_revenue:base/formula/refs/1 | None | base_2026q4_mine_revenue |
| /operating_model/cells/base_2026q4_revenue:base/formula/refs/2 | None | base_2026q4_magnet_revenue |
| /operating_model/cells/base_2026q4_revenue:base/id | None | base_2026q4_revenue |
| /operating_model/cells/base_2026q4_revenue:base/kind | None | derived |
| /operating_model/cells/base_2026q4_revenue:base/label | None | Consolidated revenue |
| /operating_model/cells/base_2026q4_revenue:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_revenue:base/value | None | 27.5 |
| /operating_model/cells/base_2026q4_royalty_cash:base/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/base_2026q4_royalty_cash:base/case | None | base |
| /operating_model/cells/base_2026q4_royalty_cash:base/formula/op | None | sum |
| /operating_model/cells/base_2026q4_royalty_cash:base/formula/refs/0 | None | base_2026q4_royalty_variable |
| /operating_model/cells/base_2026q4_royalty_cash:base/formula/refs/1 | None | base_2026q4_royalty_topup |
| /operating_model/cells/base_2026q4_royalty_cash:base/id | None | base_2026q4_royalty_cash |
| /operating_model/cells/base_2026q4_royalty_cash:base/kind | None | derived |
| /operating_model/cells/base_2026q4_royalty_cash:base/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/base_2026q4_royalty_cash:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_royalty_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_royalty_cash:base/value | None | 5.945 |
| /operating_model/cells/base_2026q4_royalty_topup:base/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/base_2026q4_royalty_topup:base/case | None | base |
| /operating_model/cells/base_2026q4_royalty_topup:base/id | None | base_2026q4_royalty_topup |
| /operating_model/cells/base_2026q4_royalty_topup:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_royalty_topup:base/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/base_2026q4_royalty_topup:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_royalty_topup:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_royalty_topup:base/value | None | 5.0 |
| /operating_model/cells/base_2026q4_royalty_variable:base/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/base_2026q4_royalty_variable:base/case | None | base |
| /operating_model/cells/base_2026q4_royalty_variable:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q4_royalty_variable:base/formula/refs/0 | None | base_2026q4_mine_revenue |
| /operating_model/cells/base_2026q4_royalty_variable:base/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/base_2026q4_royalty_variable:base/id | None | base_2026q4_royalty_variable |
| /operating_model/cells/base_2026q4_royalty_variable:base/kind | None | derived |
| /operating_model/cells/base_2026q4_royalty_variable:base/label | None | Variable mine royalty |
| /operating_model/cells/base_2026q4_royalty_variable:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_royalty_variable:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_royalty_variable:base/value | None | 0.945 |
| /operating_model/cells/base_2026q4_sbc:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_sbc:base/case | None | base |
| /operating_model/cells/base_2026q4_sbc:base/id | None | base_2026q4_sbc |
| /operating_model/cells/base_2026q4_sbc:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_sbc:base/label | None | Operating SBC |
| /operating_model/cells/base_2026q4_sbc:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_sbc:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_sbc:base/value | None | 9.0 |
| /operating_model/cells/base_2026q4_transaction_cost:base/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/base_2026q4_transaction_cost:base/case | None | base |
| /operating_model/cells/base_2026q4_transaction_cost:base/id | None | base_2026q4_transaction_cost |
| /operating_model/cells/base_2026q4_transaction_cost:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_transaction_cost:base/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/base_2026q4_transaction_cost:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_transaction_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_transaction_cost:base/value | None | 20.0 |
| /operating_model/cells/base_2026q4_treasury_income:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_treasury_income:base/case | None | base |
| /operating_model/cells/base_2026q4_treasury_income:base/id | None | base_2026q4_treasury_income |
| /operating_model/cells/base_2026q4_treasury_income:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_treasury_income:base/label | None | Cash treasury income |
| /operating_model/cells/base_2026q4_treasury_income:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_treasury_income:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_treasury_income:base/value | None | 10.0 |
| /operating_model/cells/base_2026q4_treo_price:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_treo_price:base/case | None | base |
| /operating_model/cells/base_2026q4_treo_price:base/id | None | base_2026q4_treo_price |
| /operating_model/cells/base_2026q4_treo_price:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_treo_price:base/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/base_2026q4_treo_price:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_treo_price:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_treo_price:base/value | None | 0.03 |
| /operating_model/cells/base_2026q4_working_capital:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2026q4_working_capital:base/case | None | base |
| /operating_model/cells/base_2026q4_working_capital:base/id | None | base_2026q4_working_capital |
| /operating_model/cells/base_2026q4_working_capital:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_working_capital:base/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/base_2026q4_working_capital:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_working_capital:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_working_capital:base/value | None | 20.0 |
| /operating_model/cells/base_2027q1_acquired_cash:base/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/base_2027q1_acquired_cash:base/case | None | base |
| /operating_model/cells/base_2027q1_acquired_cash:base/id | None | base_2027q1_acquired_cash |
| /operating_model/cells/base_2027q1_acquired_cash:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_acquired_cash:base/label | None | Cash acquired at closing |
| /operating_model/cells/base_2027q1_acquired_cash:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_acquired_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_acquired_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2027q1_acquisition_cash:base/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/base_2027q1_acquisition_cash:base/case | None | base |
| /operating_model/cells/base_2027q1_acquisition_cash:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q1_acquisition_cash:base/formula/refs/0 | None | base_2027q1_new_acquisition |
| /operating_model/cells/base_2027q1_acquisition_cash:base/formula/refs/1 | None | base_2027q1_acquired_cash |
| /operating_model/cells/base_2027q1_acquisition_cash:base/id | None | base_2027q1_acquisition_cash |
| /operating_model/cells/base_2027q1_acquisition_cash:base/kind | None | derived |
| /operating_model/cells/base_2027q1_acquisition_cash:base/label | None | Net acquisition cash |
| /operating_model/cells/base_2027q1_acquisition_cash:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_acquisition_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_acquisition_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2027q1_average_capacity:base/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/base_2027q1_average_capacity:base/case | None | base |
| /operating_model/cells/base_2027q1_average_capacity:base/id | None | base_2027q1_average_capacity |
| /operating_model/cells/base_2027q1_average_capacity:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_average_capacity:base/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/base_2027q1_average_capacity:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_average_capacity:base/unit | None | ratio |
| /operating_model/cells/base_2027q1_average_capacity:base/value | None | 4000.0 |
| /operating_model/cells/base_2027q1_capex:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_capex:base/case | None | base |
| /operating_model/cells/base_2027q1_capex:base/id | None | base_2027q1_capex |
| /operating_model/cells/base_2027q1_capex:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_capex:base/label | None | Cash capex and equipment deposits |
| /operating_model/cells/base_2027q1_capex:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_capex:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_capex:base/value | None | 150.0 |
| /operating_model/cells/base_2027q1_cash_after_investing:base/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/base_2027q1_cash_after_investing:base/case | None | base |
| /operating_model/cells/base_2027q1_cash_after_investing:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q1_cash_after_investing:base/formula/refs/0 | None | base_2027q1_fcf |
| /operating_model/cells/base_2027q1_cash_after_investing:base/formula/refs/1 | None | base_2027q1_other_investing |
| /operating_model/cells/base_2027q1_cash_after_investing:base/id | None | base_2027q1_cash_after_investing |
| /operating_model/cells/base_2027q1_cash_after_investing:base/kind | None | derived |
| /operating_model/cells/base_2027q1_cash_after_investing:base/label | None | Cash after business investing |
| /operating_model/cells/base_2027q1_cash_after_investing:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_cash_after_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_cash_after_investing:base/value | None | -223.814375 |
| /operating_model/cells/base_2027q1_cash_earnings:base/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/base_2027q1_cash_earnings:base/case | None | base |
| /operating_model/cells/base_2027q1_cash_earnings:base/formula/op | None | sum |
| /operating_model/cells/base_2027q1_cash_earnings:base/formula/refs/0 | None | base_2027q1_operating_income |
| /operating_model/cells/base_2027q1_cash_earnings:base/formula/refs/1 | None | base_2027q1_da |
| /operating_model/cells/base_2027q1_cash_earnings:base/formula/refs/2 | None | base_2027q1_sbc |
| /operating_model/cells/base_2027q1_cash_earnings:base/formula/refs/3 | None | base_2027q1_treasury_income |
| /operating_model/cells/base_2027q1_cash_earnings:base/id | None | base_2027q1_cash_earnings |
| /operating_model/cells/base_2027q1_cash_earnings:base/kind | None | derived |
| /operating_model/cells/base_2027q1_cash_earnings:base/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/base_2027q1_cash_earnings:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_cash_earnings:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_cash_earnings:base/value | None | -42.01750000000001 |
| /operating_model/cells/base_2027q1_cash_overhead:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_cash_overhead:base/case | None | base |
| /operating_model/cells/base_2027q1_cash_overhead:base/id | None | base_2027q1_cash_overhead |
| /operating_model/cells/base_2027q1_cash_overhead:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_cash_overhead:base/label | None | Cash SG&A and development |
| /operating_model/cells/base_2027q1_cash_overhead:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_cash_overhead:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_cash_overhead:base/value | None | 46.0 |
| /operating_model/cells/base_2027q1_cash_tax:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_cash_tax:base/case | None | base |
| /operating_model/cells/base_2027q1_cash_tax:base/id | None | base_2027q1_cash_tax |
| /operating_model/cells/base_2027q1_cash_tax:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_cash_tax:base/label | None | Cash taxes |
| /operating_model/cells/base_2027q1_cash_tax:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_cash_tax:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_cash_tax:base/value | None | 0.5 |
| /operating_model/cells/base_2027q1_cfo:base/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/base_2027q1_cfo:base/case | None | base |
| /operating_model/cells/base_2027q1_cfo:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q1_cfo:base/formula/refs/0 | None | base_2027q1_cash_earnings |
| /operating_model/cells/base_2027q1_cfo:base/formula/refs/1 | None | base_2027q1_operating_cash_uses |
| /operating_model/cells/base_2027q1_cfo:base/id | None | base_2027q1_cfo |
| /operating_model/cells/base_2027q1_cfo:base/kind | None | derived |
| /operating_model/cells/base_2027q1_cfo:base/label | None | Operating cash flow proxy |
| /operating_model/cells/base_2027q1_cfo:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_cfo:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_cfo:base/value | None | -73.81437500000001 |
| /operating_model/cells/base_2027q1_da:base/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/base_2027q1_da:base/case | None | base |
| /operating_model/cells/base_2027q1_da:base/id | None | base_2027q1_da |
| /operating_model/cells/base_2027q1_da:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_da:base/label | None | Consolidated operating D&A |
| /operating_model/cells/base_2027q1_da:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_da:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_da:base/value | None | 11.0 |
| /operating_model/cells/base_2027q1_dfc_interest:base/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/base_2027q1_dfc_interest:base/case | None | base |
| /operating_model/cells/base_2027q1_dfc_interest:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q1_dfc_interest:base/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/base_2027q1_dfc_interest:base/formula/refs/1 | None | base_2027q1_dfc_rate |
| /operating_model/cells/base_2027q1_dfc_interest:base/formula/refs/2 | None | base_2027q1_interest_fraction |
| /operating_model/cells/base_2027q1_dfc_interest:base/id | None | base_2027q1_dfc_interest |
| /operating_model/cells/base_2027q1_dfc_interest:base/kind | None | derived |
| /operating_model/cells/base_2027q1_dfc_interest:base/label | None | DFC cash coupon proxy |
| /operating_model/cells/base_2027q1_dfc_interest:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_dfc_interest:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_dfc_interest:base/value | None | 6.296875 |
| /operating_model/cells/base_2027q1_dfc_rate:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_dfc_rate:base/case | None | base |
| /operating_model/cells/base_2027q1_dfc_rate:base/id | None | base_2027q1_dfc_rate |
| /operating_model/cells/base_2027q1_dfc_rate:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_dfc_rate:base/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/base_2027q1_dfc_rate:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_dfc_rate:base/unit | None | ratio |
| /operating_model/cells/base_2027q1_dfc_rate:base/value | None | 0.0775 |
| /operating_model/cells/base_2027q1_fcf:base/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/base_2027q1_fcf:base/case | None | base |
| /operating_model/cells/base_2027q1_fcf:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q1_fcf:base/formula/refs/0 | None | base_2027q1_cfo |
| /operating_model/cells/base_2027q1_fcf:base/formula/refs/1 | None | base_2027q1_capex |
| /operating_model/cells/base_2027q1_fcf:base/id | None | base_2027q1_fcf |
| /operating_model/cells/base_2027q1_fcf:base/kind | None | derived |
| /operating_model/cells/base_2027q1_fcf:base/label | None | CFO less cash capital investment |
| /operating_model/cells/base_2027q1_fcf:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_fcf:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_fcf:base/value | None | -223.814375 |
| /operating_model/cells/base_2027q1_gross_contribution:base/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/base_2027q1_gross_contribution:base/case | None | base |
| /operating_model/cells/base_2027q1_gross_contribution:base/formula/op | None | sum |
| /operating_model/cells/base_2027q1_gross_contribution:base/formula/refs/0 | None | base_2027q1_legacy_gross |
| /operating_model/cells/base_2027q1_gross_contribution:base/formula/refs/1 | None | base_2027q1_mine_gross |
| /operating_model/cells/base_2027q1_gross_contribution:base/formula/refs/2 | None | base_2027q1_magnet_gross |
| /operating_model/cells/base_2027q1_gross_contribution:base/id | None | base_2027q1_gross_contribution |
| /operating_model/cells/base_2027q1_gross_contribution:base/kind | None | derived |
| /operating_model/cells/base_2027q1_gross_contribution:base/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/base_2027q1_gross_contribution:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_gross_contribution:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_gross_contribution:base/value | None | 3.3999999999999986 |
| /operating_model/cells/base_2027q1_interest_fraction:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_interest_fraction:base/case | None | base |
| /operating_model/cells/base_2027q1_interest_fraction:base/id | None | base_2027q1_interest_fraction |
| /operating_model/cells/base_2027q1_interest_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_interest_fraction:base/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/base_2027q1_interest_fraction:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_interest_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q1_interest_fraction:base/value | None | 0.25 |
| /operating_model/cells/base_2027q1_legacy_gross:base/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/base_2027q1_legacy_gross:base/case | None | base |
| /operating_model/cells/base_2027q1_legacy_gross:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q1_legacy_gross:base/formula/refs/0 | None | base_2027q1_legacy_revenue |
| /operating_model/cells/base_2027q1_legacy_gross:base/formula/refs/1 | None | base_2027q1_legacy_margin |
| /operating_model/cells/base_2027q1_legacy_gross:base/id | None | base_2027q1_legacy_gross |
| /operating_model/cells/base_2027q1_legacy_gross:base/kind | None | derived |
| /operating_model/cells/base_2027q1_legacy_gross:base/label | None | Legacy cash gross contribution |
| /operating_model/cells/base_2027q1_legacy_gross:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_legacy_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_legacy_gross:base/value | None | 1.7999999999999998 |
| /operating_model/cells/base_2027q1_legacy_margin:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_legacy_margin:base/case | None | base |
| /operating_model/cells/base_2027q1_legacy_margin:base/id | None | base_2027q1_legacy_margin |
| /operating_model/cells/base_2027q1_legacy_margin:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_legacy_margin:base/label | None | Legacy margin before D&A |
| /operating_model/cells/base_2027q1_legacy_margin:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_legacy_margin:base/unit | None | ratio |
| /operating_model/cells/base_2027q1_legacy_margin:base/value | None | 0.18 |
| /operating_model/cells/base_2027q1_legacy_revenue:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_legacy_revenue:base/case | None | base |
| /operating_model/cells/base_2027q1_legacy_revenue:base/id | None | base_2027q1_legacy_revenue |
| /operating_model/cells/base_2027q1_legacy_revenue:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_legacy_revenue:base/label | None | Legacy alloy and services revenue |
| /operating_model/cells/base_2027q1_legacy_revenue:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_legacy_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_legacy_revenue:base/value | None | 10.0 |
| /operating_model/cells/base_2027q1_magnet_gross:base/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/base_2027q1_magnet_gross:base/case | None | base |
| /operating_model/cells/base_2027q1_magnet_gross:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q1_magnet_gross:base/formula/refs/0 | None | base_2027q1_magnet_revenue |
| /operating_model/cells/base_2027q1_magnet_gross:base/formula/refs/1 | None | base_2027q1_magnet_margin |
| /operating_model/cells/base_2027q1_magnet_gross:base/id | None | base_2027q1_magnet_gross |
| /operating_model/cells/base_2027q1_magnet_gross:base/kind | None | derived |
| /operating_model/cells/base_2027q1_magnet_gross:base/label | None | Magnet ramp cash contribution |
| /operating_model/cells/base_2027q1_magnet_gross:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_magnet_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_magnet_gross:base/value | None | -1.7999999999999998 |
| /operating_model/cells/base_2027q1_magnet_margin:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_magnet_margin:base/case | None | base |
| /operating_model/cells/base_2027q1_magnet_margin:base/id | None | base_2027q1_magnet_margin |
| /operating_model/cells/base_2027q1_magnet_margin:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_magnet_margin:base/label | None | Magnet cash gross margin |
| /operating_model/cells/base_2027q1_magnet_margin:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_magnet_margin:base/unit | None | ratio |
| /operating_model/cells/base_2027q1_magnet_margin:base/value | None | -0.5 |
| /operating_model/cells/base_2027q1_magnet_price:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_magnet_price:base/case | None | base |
| /operating_model/cells/base_2027q1_magnet_price:base/id | None | base_2027q1_magnet_price |
| /operating_model/cells/base_2027q1_magnet_price:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_magnet_price:base/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/base_2027q1_magnet_price:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_magnet_price:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_magnet_price:base/value | None | 0.06 |
| /operating_model/cells/base_2027q1_magnet_revenue:base/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/base_2027q1_magnet_revenue:base/case | None | base |
| /operating_model/cells/base_2027q1_magnet_revenue:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q1_magnet_revenue:base/formula/refs/0 | None | base_2027q1_magnet_tonnes |
| /operating_model/cells/base_2027q1_magnet_revenue:base/formula/refs/1 | None | base_2027q1_magnet_price |
| /operating_model/cells/base_2027q1_magnet_revenue:base/id | None | base_2027q1_magnet_revenue |
| /operating_model/cells/base_2027q1_magnet_revenue:base/kind | None | derived |
| /operating_model/cells/base_2027q1_magnet_revenue:base/label | None | Accepted magnet sales |
| /operating_model/cells/base_2027q1_magnet_revenue:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_magnet_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_magnet_revenue:base/value | None | 3.5999999999999996 |
| /operating_model/cells/base_2027q1_magnet_tonnes:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_magnet_tonnes:base/case | None | base |
| /operating_model/cells/base_2027q1_magnet_tonnes:base/id | None | base_2027q1_magnet_tonnes |
| /operating_model/cells/base_2027q1_magnet_tonnes:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_magnet_tonnes:base/label | None | Accepted external magnet tonnes |
| /operating_model/cells/base_2027q1_magnet_tonnes:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_magnet_tonnes:base/unit | None | ratio |
| /operating_model/cells/base_2027q1_magnet_tonnes:base/value | None | 60.0 |
| /operating_model/cells/base_2027q1_mine_cash_cost:base/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/base_2027q1_mine_cash_cost:base/case | None | base |
| /operating_model/cells/base_2027q1_mine_cash_cost:base/formula/op | None | sum |
| /operating_model/cells/base_2027q1_mine_cash_cost:base/formula/refs/0 | None | base_2027q1_mine_variable_cost |
| /operating_model/cells/base_2027q1_mine_cash_cost:base/formula/refs/1 | None | base_2027q1_mine_fixed_cost |
| /operating_model/cells/base_2027q1_mine_cash_cost:base/id | None | base_2027q1_mine_cash_cost |
| /operating_model/cells/base_2027q1_mine_cash_cost:base/kind | None | derived |
| /operating_model/cells/base_2027q1_mine_cash_cost:base/label | None | Mine cash production cost |
| /operating_model/cells/base_2027q1_mine_cash_cost:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_mine_cash_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_mine_cash_cost:base/value | None | 23.6 |
| /operating_model/cells/base_2027q1_mine_fixed_cost:base/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/base_2027q1_mine_fixed_cost:base/case | None | base |
| /operating_model/cells/base_2027q1_mine_fixed_cost:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q1_mine_fixed_cost:base/formula/refs/0 | None | base_2027q1_mine_fixed_full |
| /operating_model/cells/base_2027q1_mine_fixed_cost:base/formula/refs/1 | None | base_2027q1_ownership_fraction |
| /operating_model/cells/base_2027q1_mine_fixed_cost:base/id | None | base_2027q1_mine_fixed_cost |
| /operating_model/cells/base_2027q1_mine_fixed_cost:base/kind | None | derived |
| /operating_model/cells/base_2027q1_mine_fixed_cost:base/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/base_2027q1_mine_fixed_cost:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_mine_fixed_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_mine_fixed_cost:base/value | None | 11.0 |
| /operating_model/cells/base_2027q1_mine_fixed_full:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_mine_fixed_full:base/case | None | base |
| /operating_model/cells/base_2027q1_mine_fixed_full:base/id | None | base_2027q1_mine_fixed_full |
| /operating_model/cells/base_2027q1_mine_fixed_full:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_mine_fixed_full:base/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/base_2027q1_mine_fixed_full:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_mine_fixed_full:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_mine_fixed_full:base/value | None | 11.0 |
| /operating_model/cells/base_2027q1_mine_gross:base/basis | None | Royalty below contribution. |
| /operating_model/cells/base_2027q1_mine_gross:base/case | None | base |
| /operating_model/cells/base_2027q1_mine_gross:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q1_mine_gross:base/formula/refs/0 | None | base_2027q1_mine_revenue |
| /operating_model/cells/base_2027q1_mine_gross:base/formula/refs/1 | None | base_2027q1_mine_cash_cost |
| /operating_model/cells/base_2027q1_mine_gross:base/id | None | base_2027q1_mine_gross |
| /operating_model/cells/base_2027q1_mine_gross:base/kind | None | derived |
| /operating_model/cells/base_2027q1_mine_gross:base/label | None | Mine revenue less cash production |
| /operating_model/cells/base_2027q1_mine_gross:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_mine_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_mine_gross:base/value | None | 3.3999999999999986 |
| /operating_model/cells/base_2027q1_mine_revenue:base/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/base_2027q1_mine_revenue:base/case | None | base |
| /operating_model/cells/base_2027q1_mine_revenue:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q1_mine_revenue:base/formula/refs/0 | None | base_2027q1_recognized_tonnes |
| /operating_model/cells/base_2027q1_mine_revenue:base/formula/refs/1 | None | base_2027q1_treo_price |
| /operating_model/cells/base_2027q1_mine_revenue:base/id | None | base_2027q1_mine_revenue |
| /operating_model/cells/base_2027q1_mine_revenue:base/kind | None | derived |
| /operating_model/cells/base_2027q1_mine_revenue:base/label | None | Post-close TREO revenue |
| /operating_model/cells/base_2027q1_mine_revenue:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_mine_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_mine_revenue:base/value | None | 27.0 |
| /operating_model/cells/base_2027q1_mine_unit_cost:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_mine_unit_cost:base/case | None | base |
| /operating_model/cells/base_2027q1_mine_unit_cost:base/id | None | base_2027q1_mine_unit_cost |
| /operating_model/cells/base_2027q1_mine_unit_cost:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_mine_unit_cost:base/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/base_2027q1_mine_unit_cost:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_mine_unit_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_mine_unit_cost:base/value | None | 0.014 |
| /operating_model/cells/base_2027q1_mine_utilization:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_mine_utilization:base/case | None | base |
| /operating_model/cells/base_2027q1_mine_utilization:base/id | None | base_2027q1_mine_utilization |
| /operating_model/cells/base_2027q1_mine_utilization:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_mine_utilization:base/label | None | Capacity to recognized sales factor |
| /operating_model/cells/base_2027q1_mine_utilization:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_mine_utilization:base/unit | None | ratio |
| /operating_model/cells/base_2027q1_mine_utilization:base/value | None | 0.9 |
| /operating_model/cells/base_2027q1_mine_variable_cost:base/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/base_2027q1_mine_variable_cost:base/case | None | base |
| /operating_model/cells/base_2027q1_mine_variable_cost:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q1_mine_variable_cost:base/formula/refs/0 | None | base_2027q1_recognized_tonnes |
| /operating_model/cells/base_2027q1_mine_variable_cost:base/formula/refs/1 | None | base_2027q1_mine_unit_cost |
| /operating_model/cells/base_2027q1_mine_variable_cost:base/id | None | base_2027q1_mine_variable_cost |
| /operating_model/cells/base_2027q1_mine_variable_cost:base/kind | None | derived |
| /operating_model/cells/base_2027q1_mine_variable_cost:base/label | None | Variable mine cash cost |
| /operating_model/cells/base_2027q1_mine_variable_cost:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_mine_variable_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_mine_variable_cost:base/value | None | 12.6 |
| /operating_model/cells/base_2027q1_minority_investment:base/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/base_2027q1_minority_investment:base/case | None | base |
| /operating_model/cells/base_2027q1_minority_investment:base/id | None | base_2027q1_minority_investment |
| /operating_model/cells/base_2027q1_minority_investment:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_minority_investment:base/label | None | Carester minority investment cash |
| /operating_model/cells/base_2027q1_minority_investment:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_minority_investment:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_minority_investment:base/value | None | 0.0 |
| /operating_model/cells/base_2027q1_new_acquisition:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_new_acquisition:base/case | None | base |
| /operating_model/cells/base_2027q1_new_acquisition:base/id | None | base_2027q1_new_acquisition |
| /operating_model/cells/base_2027q1_new_acquisition:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_new_acquisition:base/label | None | Other acquisition purchase cash |
| /operating_model/cells/base_2027q1_new_acquisition:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_new_acquisition:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_new_acquisition:base/value | None | 0.0 |
| /operating_model/cells/base_2027q1_operating_cash_uses:base/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/base_2027q1_operating_cash_uses:base/case | None | base |
| /operating_model/cells/base_2027q1_operating_cash_uses:base/formula/op | None | sum |
| /operating_model/cells/base_2027q1_operating_cash_uses:base/formula/refs/0 | None | base_2027q1_dfc_interest |
| /operating_model/cells/base_2027q1_operating_cash_uses:base/formula/refs/1 | None | base_2027q1_cash_tax |
| /operating_model/cells/base_2027q1_operating_cash_uses:base/formula/refs/2 | None | base_2027q1_working_capital |
| /operating_model/cells/base_2027q1_operating_cash_uses:base/id | None | base_2027q1_operating_cash_uses |
| /operating_model/cells/base_2027q1_operating_cash_uses:base/kind | None | derived |
| /operating_model/cells/base_2027q1_operating_cash_uses:base/label | None | Interest tax and working-capital use |
| /operating_model/cells/base_2027q1_operating_cash_uses:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_operating_cash_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_operating_cash_uses:base/value | None | 31.796875 |
| /operating_model/cells/base_2027q1_operating_costs:base/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/base_2027q1_operating_costs:base/case | None | base |
| /operating_model/cells/base_2027q1_operating_costs:base/formula/op | None | sum |
| /operating_model/cells/base_2027q1_operating_costs:base/formula/refs/0 | None | base_2027q1_cash_overhead |
| /operating_model/cells/base_2027q1_operating_costs:base/formula/refs/1 | None | base_2027q1_royalty_cash |
| /operating_model/cells/base_2027q1_operating_costs:base/formula/refs/2 | None | base_2027q1_da |
| /operating_model/cells/base_2027q1_operating_costs:base/formula/refs/3 | None | base_2027q1_sbc |
| /operating_model/cells/base_2027q1_operating_costs:base/formula/refs/4 | None | base_2027q1_transaction_cost |
| /operating_model/cells/base_2027q1_operating_costs:base/id | None | base_2027q1_operating_costs |
| /operating_model/cells/base_2027q1_operating_costs:base/kind | None | derived |
| /operating_model/cells/base_2027q1_operating_costs:base/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/base_2027q1_operating_costs:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_operating_costs:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_operating_costs:base/value | None | 73.4175 |
| /operating_model/cells/base_2027q1_operating_income:base/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/base_2027q1_operating_income:base/case | None | base |
| /operating_model/cells/base_2027q1_operating_income:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q1_operating_income:base/formula/refs/0 | None | base_2027q1_gross_contribution |
| /operating_model/cells/base_2027q1_operating_income:base/formula/refs/1 | None | base_2027q1_operating_costs |
| /operating_model/cells/base_2027q1_operating_income:base/id | None | base_2027q1_operating_income |
| /operating_model/cells/base_2027q1_operating_income:base/kind | None | derived |
| /operating_model/cells/base_2027q1_operating_income:base/label | None | Operating income proxy |
| /operating_model/cells/base_2027q1_operating_income:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_operating_income:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_operating_income:base/value | None | -70.01750000000001 |
| /operating_model/cells/base_2027q1_other_investing:base/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/base_2027q1_other_investing:base/case | None | base |
| /operating_model/cells/base_2027q1_other_investing:base/formula/op | None | sum |
| /operating_model/cells/base_2027q1_other_investing:base/formula/refs/0 | None | base_2027q1_acquisition_cash |
| /operating_model/cells/base_2027q1_other_investing:base/formula/refs/1 | None | base_2027q1_minority_investment |
| /operating_model/cells/base_2027q1_other_investing:base/id | None | base_2027q1_other_investing |
| /operating_model/cells/base_2027q1_other_investing:base/kind | None | derived |
| /operating_model/cells/base_2027q1_other_investing:base/label | None | Acquisition and minority cash |
| /operating_model/cells/base_2027q1_other_investing:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_other_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_other_investing:base/value | None | 0.0 |
| /operating_model/cells/base_2027q1_ownership_fraction:base/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/base_2027q1_ownership_fraction:base/case | None | base |
| /operating_model/cells/base_2027q1_ownership_fraction:base/id | None | base_2027q1_ownership_fraction |
| /operating_model/cells/base_2027q1_ownership_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_ownership_fraction:base/label | None | Consolidated fraction of quarter |
| /operating_model/cells/base_2027q1_ownership_fraction:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_ownership_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q1_ownership_fraction:base/value | None | 1.0 |
| /operating_model/cells/base_2027q1_quarter_fraction:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_quarter_fraction:base/case | None | base |
| /operating_model/cells/base_2027q1_quarter_fraction:base/id | None | base_2027q1_quarter_fraction |
| /operating_model/cells/base_2027q1_quarter_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_quarter_fraction:base/label | None | Annual-to-quarter fraction |
| /operating_model/cells/base_2027q1_quarter_fraction:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_quarter_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q1_quarter_fraction:base/value | None | 0.25 |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/case | None | base |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/formula/refs/0 | None | base_2027q1_average_capacity |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/formula/refs/1 | None | base_2027q1_quarter_fraction |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/formula/refs/2 | None | base_2027q1_mine_utilization |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/formula/refs/3 | None | base_2027q1_ownership_fraction |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/id | None | base_2027q1_recognized_tonnes |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/kind | None | derived |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/unit | None | ratio |
| /operating_model/cells/base_2027q1_recognized_tonnes:base/value | None | 900.0 |
| /operating_model/cells/base_2027q1_revenue:base/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/base_2027q1_revenue:base/case | None | base |
| /operating_model/cells/base_2027q1_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_2027q1_revenue:base/formula/refs/0 | None | base_2027q1_legacy_revenue |
| /operating_model/cells/base_2027q1_revenue:base/formula/refs/1 | None | base_2027q1_mine_revenue |
| /operating_model/cells/base_2027q1_revenue:base/formula/refs/2 | None | base_2027q1_magnet_revenue |
| /operating_model/cells/base_2027q1_revenue:base/id | None | base_2027q1_revenue |
| /operating_model/cells/base_2027q1_revenue:base/kind | None | derived |
| /operating_model/cells/base_2027q1_revenue:base/label | None | Consolidated revenue |
| /operating_model/cells/base_2027q1_revenue:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_revenue:base/value | None | 40.6 |
| /operating_model/cells/base_2027q1_royalty_cash:base/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/base_2027q1_royalty_cash:base/case | None | base |
| /operating_model/cells/base_2027q1_royalty_cash:base/formula/op | None | sum |
| /operating_model/cells/base_2027q1_royalty_cash:base/formula/refs/0 | None | base_2027q1_royalty_variable |
| /operating_model/cells/base_2027q1_royalty_cash:base/formula/refs/1 | None | base_2027q1_royalty_topup |
| /operating_model/cells/base_2027q1_royalty_cash:base/id | None | base_2027q1_royalty_cash |
| /operating_model/cells/base_2027q1_royalty_cash:base/kind | None | derived |
| /operating_model/cells/base_2027q1_royalty_cash:base/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/base_2027q1_royalty_cash:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_royalty_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_royalty_cash:base/value | None | 6.4175 |
| /operating_model/cells/base_2027q1_royalty_topup:base/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/base_2027q1_royalty_topup:base/case | None | base |
| /operating_model/cells/base_2027q1_royalty_topup:base/id | None | base_2027q1_royalty_topup |
| /operating_model/cells/base_2027q1_royalty_topup:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_royalty_topup:base/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/base_2027q1_royalty_topup:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_royalty_topup:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_royalty_topup:base/value | None | 5.0 |
| /operating_model/cells/base_2027q1_royalty_variable:base/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/base_2027q1_royalty_variable:base/case | None | base |
| /operating_model/cells/base_2027q1_royalty_variable:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q1_royalty_variable:base/formula/refs/0 | None | base_2027q1_mine_revenue |
| /operating_model/cells/base_2027q1_royalty_variable:base/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/base_2027q1_royalty_variable:base/id | None | base_2027q1_royalty_variable |
| /operating_model/cells/base_2027q1_royalty_variable:base/kind | None | derived |
| /operating_model/cells/base_2027q1_royalty_variable:base/label | None | Variable mine royalty |
| /operating_model/cells/base_2027q1_royalty_variable:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_royalty_variable:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_royalty_variable:base/value | None | 1.4175 |
| /operating_model/cells/base_2027q1_sbc:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_sbc:base/case | None | base |
| /operating_model/cells/base_2027q1_sbc:base/id | None | base_2027q1_sbc |
| /operating_model/cells/base_2027q1_sbc:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_sbc:base/label | None | Operating SBC |
| /operating_model/cells/base_2027q1_sbc:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_sbc:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_sbc:base/value | None | 10.0 |
| /operating_model/cells/base_2027q1_transaction_cost:base/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/base_2027q1_transaction_cost:base/case | None | base |
| /operating_model/cells/base_2027q1_transaction_cost:base/id | None | base_2027q1_transaction_cost |
| /operating_model/cells/base_2027q1_transaction_cost:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_transaction_cost:base/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/base_2027q1_transaction_cost:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_transaction_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_transaction_cost:base/value | None | 0.0 |
| /operating_model/cells/base_2027q1_treasury_income:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_treasury_income:base/case | None | base |
| /operating_model/cells/base_2027q1_treasury_income:base/id | None | base_2027q1_treasury_income |
| /operating_model/cells/base_2027q1_treasury_income:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_treasury_income:base/label | None | Cash treasury income |
| /operating_model/cells/base_2027q1_treasury_income:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_treasury_income:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_treasury_income:base/value | None | 7.0 |
| /operating_model/cells/base_2027q1_treo_price:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_treo_price:base/case | None | base |
| /operating_model/cells/base_2027q1_treo_price:base/id | None | base_2027q1_treo_price |
| /operating_model/cells/base_2027q1_treo_price:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_treo_price:base/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/base_2027q1_treo_price:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_treo_price:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_treo_price:base/value | None | 0.03 |
| /operating_model/cells/base_2027q1_working_capital:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q1_working_capital:base/case | None | base |
| /operating_model/cells/base_2027q1_working_capital:base/id | None | base_2027q1_working_capital |
| /operating_model/cells/base_2027q1_working_capital:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_working_capital:base/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/base_2027q1_working_capital:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_working_capital:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_working_capital:base/value | None | 25.0 |
| /operating_model/cells/base_2027q2_acquired_cash:base/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/base_2027q2_acquired_cash:base/case | None | base |
| /operating_model/cells/base_2027q2_acquired_cash:base/id | None | base_2027q2_acquired_cash |
| /operating_model/cells/base_2027q2_acquired_cash:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_acquired_cash:base/label | None | Cash acquired at closing |
| /operating_model/cells/base_2027q2_acquired_cash:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_acquired_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_acquired_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2027q2_acquisition_cash:base/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/base_2027q2_acquisition_cash:base/case | None | base |
| /operating_model/cells/base_2027q2_acquisition_cash:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q2_acquisition_cash:base/formula/refs/0 | None | base_2027q2_new_acquisition |
| /operating_model/cells/base_2027q2_acquisition_cash:base/formula/refs/1 | None | base_2027q2_acquired_cash |
| /operating_model/cells/base_2027q2_acquisition_cash:base/id | None | base_2027q2_acquisition_cash |
| /operating_model/cells/base_2027q2_acquisition_cash:base/kind | None | derived |
| /operating_model/cells/base_2027q2_acquisition_cash:base/label | None | Net acquisition cash |
| /operating_model/cells/base_2027q2_acquisition_cash:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_acquisition_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_acquisition_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2027q2_average_capacity:base/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/base_2027q2_average_capacity:base/case | None | base |
| /operating_model/cells/base_2027q2_average_capacity:base/id | None | base_2027q2_average_capacity |
| /operating_model/cells/base_2027q2_average_capacity:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_average_capacity:base/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/base_2027q2_average_capacity:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_average_capacity:base/unit | None | ratio |
| /operating_model/cells/base_2027q2_average_capacity:base/value | None | 4800.0 |
| /operating_model/cells/base_2027q2_capex:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_capex:base/case | None | base |
| /operating_model/cells/base_2027q2_capex:base/id | None | base_2027q2_capex |
| /operating_model/cells/base_2027q2_capex:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_capex:base/label | None | Cash capex and equipment deposits |
| /operating_model/cells/base_2027q2_capex:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_capex:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_capex:base/value | None | 170.0 |
| /operating_model/cells/base_2027q2_cash_after_investing:base/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/base_2027q2_cash_after_investing:base/case | None | base |
| /operating_model/cells/base_2027q2_cash_after_investing:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q2_cash_after_investing:base/formula/refs/0 | None | base_2027q2_fcf |
| /operating_model/cells/base_2027q2_cash_after_investing:base/formula/refs/1 | None | base_2027q2_other_investing |
| /operating_model/cells/base_2027q2_cash_after_investing:base/id | None | base_2027q2_cash_after_investing |
| /operating_model/cells/base_2027q2_cash_after_investing:base/kind | None | derived |
| /operating_model/cells/base_2027q2_cash_after_investing:base/label | None | Cash after business investing |
| /operating_model/cells/base_2027q2_cash_after_investing:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_cash_after_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_cash_after_investing:base/value | None | -251.010625 |
| /operating_model/cells/base_2027q2_cash_earnings:base/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/base_2027q2_cash_earnings:base/case | None | base |
| /operating_model/cells/base_2027q2_cash_earnings:base/formula/op | None | sum |
| /operating_model/cells/base_2027q2_cash_earnings:base/formula/refs/0 | None | base_2027q2_operating_income |
| /operating_model/cells/base_2027q2_cash_earnings:base/formula/refs/1 | None | base_2027q2_da |
| /operating_model/cells/base_2027q2_cash_earnings:base/formula/refs/2 | None | base_2027q2_sbc |
| /operating_model/cells/base_2027q2_cash_earnings:base/formula/refs/3 | None | base_2027q2_treasury_income |
| /operating_model/cells/base_2027q2_cash_earnings:base/id | None | base_2027q2_cash_earnings |
| /operating_model/cells/base_2027q2_cash_earnings:base/kind | None | derived |
| /operating_model/cells/base_2027q2_cash_earnings:base/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/base_2027q2_cash_earnings:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_cash_earnings:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_cash_earnings:base/value | None | -44.213750000000005 |
| /operating_model/cells/base_2027q2_cash_overhead:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_cash_overhead:base/case | None | base |
| /operating_model/cells/base_2027q2_cash_overhead:base/id | None | base_2027q2_cash_overhead |
| /operating_model/cells/base_2027q2_cash_overhead:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_cash_overhead:base/label | None | Cash SG&A and development |
| /operating_model/cells/base_2027q2_cash_overhead:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_cash_overhead:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_cash_overhead:base/value | None | 49.0 |
| /operating_model/cells/base_2027q2_cash_tax:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_cash_tax:base/case | None | base |
| /operating_model/cells/base_2027q2_cash_tax:base/id | None | base_2027q2_cash_tax |
| /operating_model/cells/base_2027q2_cash_tax:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_cash_tax:base/label | None | Cash taxes |
| /operating_model/cells/base_2027q2_cash_tax:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_cash_tax:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_cash_tax:base/value | None | 0.5 |
| /operating_model/cells/base_2027q2_cfo:base/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/base_2027q2_cfo:base/case | None | base |
| /operating_model/cells/base_2027q2_cfo:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q2_cfo:base/formula/refs/0 | None | base_2027q2_cash_earnings |
| /operating_model/cells/base_2027q2_cfo:base/formula/refs/1 | None | base_2027q2_operating_cash_uses |
| /operating_model/cells/base_2027q2_cfo:base/id | None | base_2027q2_cfo |
| /operating_model/cells/base_2027q2_cfo:base/kind | None | derived |
| /operating_model/cells/base_2027q2_cfo:base/label | None | Operating cash flow proxy |
| /operating_model/cells/base_2027q2_cfo:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_cfo:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_cfo:base/value | None | -81.010625 |
| /operating_model/cells/base_2027q2_da:base/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/base_2027q2_da:base/case | None | base |
| /operating_model/cells/base_2027q2_da:base/id | None | base_2027q2_da |
| /operating_model/cells/base_2027q2_da:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_da:base/label | None | Consolidated operating D&A |
| /operating_model/cells/base_2027q2_da:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_da:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_da:base/value | None | 14.0 |
| /operating_model/cells/base_2027q2_dfc_interest:base/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/base_2027q2_dfc_interest:base/case | None | base |
| /operating_model/cells/base_2027q2_dfc_interest:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q2_dfc_interest:base/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/base_2027q2_dfc_interest:base/formula/refs/1 | None | base_2027q2_dfc_rate |
| /operating_model/cells/base_2027q2_dfc_interest:base/formula/refs/2 | None | base_2027q2_interest_fraction |
| /operating_model/cells/base_2027q2_dfc_interest:base/id | None | base_2027q2_dfc_interest |
| /operating_model/cells/base_2027q2_dfc_interest:base/kind | None | derived |
| /operating_model/cells/base_2027q2_dfc_interest:base/label | None | DFC cash coupon proxy |
| /operating_model/cells/base_2027q2_dfc_interest:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_dfc_interest:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_dfc_interest:base/value | None | 6.296875 |
| /operating_model/cells/base_2027q2_dfc_rate:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_dfc_rate:base/case | None | base |
| /operating_model/cells/base_2027q2_dfc_rate:base/id | None | base_2027q2_dfc_rate |
| /operating_model/cells/base_2027q2_dfc_rate:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_dfc_rate:base/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/base_2027q2_dfc_rate:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_dfc_rate:base/unit | None | ratio |
| /operating_model/cells/base_2027q2_dfc_rate:base/value | None | 0.0775 |
| /operating_model/cells/base_2027q2_fcf:base/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/base_2027q2_fcf:base/case | None | base |
| /operating_model/cells/base_2027q2_fcf:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q2_fcf:base/formula/refs/0 | None | base_2027q2_cfo |
| /operating_model/cells/base_2027q2_fcf:base/formula/refs/1 | None | base_2027q2_capex |
| /operating_model/cells/base_2027q2_fcf:base/id | None | base_2027q2_fcf |
| /operating_model/cells/base_2027q2_fcf:base/kind | None | derived |
| /operating_model/cells/base_2027q2_fcf:base/label | None | CFO less cash capital investment |
| /operating_model/cells/base_2027q2_fcf:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_fcf:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_fcf:base/value | None | -251.010625 |
| /operating_model/cells/base_2027q2_gross_contribution:base/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/base_2027q2_gross_contribution:base/case | None | base |
| /operating_model/cells/base_2027q2_gross_contribution:base/formula/op | None | sum |
| /operating_model/cells/base_2027q2_gross_contribution:base/formula/refs/0 | None | base_2027q2_legacy_gross |
| /operating_model/cells/base_2027q2_gross_contribution:base/formula/refs/1 | None | base_2027q2_mine_gross |
| /operating_model/cells/base_2027q2_gross_contribution:base/formula/refs/2 | None | base_2027q2_magnet_gross |
| /operating_model/cells/base_2027q2_gross_contribution:base/id | None | base_2027q2_gross_contribution |
| /operating_model/cells/base_2027q2_gross_contribution:base/kind | None | derived |
| /operating_model/cells/base_2027q2_gross_contribution:base/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/base_2027q2_gross_contribution:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_gross_contribution:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_gross_contribution:base/value | None | 5.439999999999997 |
| /operating_model/cells/base_2027q2_interest_fraction:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_interest_fraction:base/case | None | base |
| /operating_model/cells/base_2027q2_interest_fraction:base/id | None | base_2027q2_interest_fraction |
| /operating_model/cells/base_2027q2_interest_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_interest_fraction:base/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/base_2027q2_interest_fraction:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_interest_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q2_interest_fraction:base/value | None | 0.25 |
| /operating_model/cells/base_2027q2_legacy_gross:base/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/base_2027q2_legacy_gross:base/case | None | base |
| /operating_model/cells/base_2027q2_legacy_gross:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q2_legacy_gross:base/formula/refs/0 | None | base_2027q2_legacy_revenue |
| /operating_model/cells/base_2027q2_legacy_gross:base/formula/refs/1 | None | base_2027q2_legacy_margin |
| /operating_model/cells/base_2027q2_legacy_gross:base/id | None | base_2027q2_legacy_gross |
| /operating_model/cells/base_2027q2_legacy_gross:base/kind | None | derived |
| /operating_model/cells/base_2027q2_legacy_gross:base/label | None | Legacy cash gross contribution |
| /operating_model/cells/base_2027q2_legacy_gross:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_legacy_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_legacy_gross:base/value | None | 2.16 |
| /operating_model/cells/base_2027q2_legacy_margin:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_legacy_margin:base/case | None | base |
| /operating_model/cells/base_2027q2_legacy_margin:base/id | None | base_2027q2_legacy_margin |
| /operating_model/cells/base_2027q2_legacy_margin:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_legacy_margin:base/label | None | Legacy margin before D&A |
| /operating_model/cells/base_2027q2_legacy_margin:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_legacy_margin:base/unit | None | ratio |
| /operating_model/cells/base_2027q2_legacy_margin:base/value | None | 0.18 |
| /operating_model/cells/base_2027q2_legacy_revenue:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_legacy_revenue:base/case | None | base |
| /operating_model/cells/base_2027q2_legacy_revenue:base/id | None | base_2027q2_legacy_revenue |
| /operating_model/cells/base_2027q2_legacy_revenue:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_legacy_revenue:base/label | None | Legacy alloy and services revenue |
| /operating_model/cells/base_2027q2_legacy_revenue:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_legacy_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_legacy_revenue:base/value | None | 12.0 |
| /operating_model/cells/base_2027q2_magnet_gross:base/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/base_2027q2_magnet_gross:base/case | None | base |
| /operating_model/cells/base_2027q2_magnet_gross:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q2_magnet_gross:base/formula/refs/0 | None | base_2027q2_magnet_revenue |
| /operating_model/cells/base_2027q2_magnet_gross:base/formula/refs/1 | None | base_2027q2_magnet_margin |
| /operating_model/cells/base_2027q2_magnet_gross:base/id | None | base_2027q2_magnet_gross |
| /operating_model/cells/base_2027q2_magnet_gross:base/kind | None | derived |
| /operating_model/cells/base_2027q2_magnet_gross:base/label | None | Magnet ramp cash contribution |
| /operating_model/cells/base_2027q2_magnet_gross:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_magnet_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_magnet_gross:base/value | None | -2.5200000000000005 |
| /operating_model/cells/base_2027q2_magnet_margin:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_magnet_margin:base/case | None | base |
| /operating_model/cells/base_2027q2_magnet_margin:base/id | None | base_2027q2_magnet_margin |
| /operating_model/cells/base_2027q2_magnet_margin:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_magnet_margin:base/label | None | Magnet cash gross margin |
| /operating_model/cells/base_2027q2_magnet_margin:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_magnet_margin:base/unit | None | ratio |
| /operating_model/cells/base_2027q2_magnet_margin:base/value | None | -0.3500000000000001 |
| /operating_model/cells/base_2027q2_magnet_price:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_magnet_price:base/case | None | base |
| /operating_model/cells/base_2027q2_magnet_price:base/id | None | base_2027q2_magnet_price |
| /operating_model/cells/base_2027q2_magnet_price:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_magnet_price:base/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/base_2027q2_magnet_price:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_magnet_price:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_magnet_price:base/value | None | 0.06 |
| /operating_model/cells/base_2027q2_magnet_revenue:base/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/base_2027q2_magnet_revenue:base/case | None | base |
| /operating_model/cells/base_2027q2_magnet_revenue:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q2_magnet_revenue:base/formula/refs/0 | None | base_2027q2_magnet_tonnes |
| /operating_model/cells/base_2027q2_magnet_revenue:base/formula/refs/1 | None | base_2027q2_magnet_price |
| /operating_model/cells/base_2027q2_magnet_revenue:base/id | None | base_2027q2_magnet_revenue |
| /operating_model/cells/base_2027q2_magnet_revenue:base/kind | None | derived |
| /operating_model/cells/base_2027q2_magnet_revenue:base/label | None | Accepted magnet sales |
| /operating_model/cells/base_2027q2_magnet_revenue:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_magnet_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_magnet_revenue:base/value | None | 7.199999999999999 |
| /operating_model/cells/base_2027q2_magnet_tonnes:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_magnet_tonnes:base/case | None | base |
| /operating_model/cells/base_2027q2_magnet_tonnes:base/id | None | base_2027q2_magnet_tonnes |
| /operating_model/cells/base_2027q2_magnet_tonnes:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_magnet_tonnes:base/label | None | Accepted external magnet tonnes |
| /operating_model/cells/base_2027q2_magnet_tonnes:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_magnet_tonnes:base/unit | None | ratio |
| /operating_model/cells/base_2027q2_magnet_tonnes:base/value | None | 120.0 |
| /operating_model/cells/base_2027q2_mine_cash_cost:base/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/base_2027q2_mine_cash_cost:base/case | None | base |
| /operating_model/cells/base_2027q2_mine_cash_cost:base/formula/op | None | sum |
| /operating_model/cells/base_2027q2_mine_cash_cost:base/formula/refs/0 | None | base_2027q2_mine_variable_cost |
| /operating_model/cells/base_2027q2_mine_cash_cost:base/formula/refs/1 | None | base_2027q2_mine_fixed_cost |
| /operating_model/cells/base_2027q2_mine_cash_cost:base/id | None | base_2027q2_mine_cash_cost |
| /operating_model/cells/base_2027q2_mine_cash_cost:base/kind | None | derived |
| /operating_model/cells/base_2027q2_mine_cash_cost:base/label | None | Mine cash production cost |
| /operating_model/cells/base_2027q2_mine_cash_cost:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_mine_cash_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_mine_cash_cost:base/value | None | 25.700000000000003 |
| /operating_model/cells/base_2027q2_mine_fixed_cost:base/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/base_2027q2_mine_fixed_cost:base/case | None | base |
| /operating_model/cells/base_2027q2_mine_fixed_cost:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q2_mine_fixed_cost:base/formula/refs/0 | None | base_2027q2_mine_fixed_full |
| /operating_model/cells/base_2027q2_mine_fixed_cost:base/formula/refs/1 | None | base_2027q2_ownership_fraction |
| /operating_model/cells/base_2027q2_mine_fixed_cost:base/id | None | base_2027q2_mine_fixed_cost |
| /operating_model/cells/base_2027q2_mine_fixed_cost:base/kind | None | derived |
| /operating_model/cells/base_2027q2_mine_fixed_cost:base/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/base_2027q2_mine_fixed_cost:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_mine_fixed_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_mine_fixed_cost:base/value | None | 11.0 |
| /operating_model/cells/base_2027q2_mine_fixed_full:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_mine_fixed_full:base/case | None | base |
| /operating_model/cells/base_2027q2_mine_fixed_full:base/id | None | base_2027q2_mine_fixed_full |
| /operating_model/cells/base_2027q2_mine_fixed_full:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_mine_fixed_full:base/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/base_2027q2_mine_fixed_full:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_mine_fixed_full:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_mine_fixed_full:base/value | None | 11.0 |
| /operating_model/cells/base_2027q2_mine_gross:base/basis | None | Royalty below contribution. |
| /operating_model/cells/base_2027q2_mine_gross:base/case | None | base |
| /operating_model/cells/base_2027q2_mine_gross:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q2_mine_gross:base/formula/refs/0 | None | base_2027q2_mine_revenue |
| /operating_model/cells/base_2027q2_mine_gross:base/formula/refs/1 | None | base_2027q2_mine_cash_cost |
| /operating_model/cells/base_2027q2_mine_gross:base/id | None | base_2027q2_mine_gross |
| /operating_model/cells/base_2027q2_mine_gross:base/kind | None | derived |
| /operating_model/cells/base_2027q2_mine_gross:base/label | None | Mine revenue less cash production |
| /operating_model/cells/base_2027q2_mine_gross:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_mine_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_mine_gross:base/value | None | 5.799999999999997 |
| /operating_model/cells/base_2027q2_mine_revenue:base/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/base_2027q2_mine_revenue:base/case | None | base |
| /operating_model/cells/base_2027q2_mine_revenue:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q2_mine_revenue:base/formula/refs/0 | None | base_2027q2_recognized_tonnes |
| /operating_model/cells/base_2027q2_mine_revenue:base/formula/refs/1 | None | base_2027q2_treo_price |
| /operating_model/cells/base_2027q2_mine_revenue:base/id | None | base_2027q2_mine_revenue |
| /operating_model/cells/base_2027q2_mine_revenue:base/kind | None | derived |
| /operating_model/cells/base_2027q2_mine_revenue:base/label | None | Post-close TREO revenue |
| /operating_model/cells/base_2027q2_mine_revenue:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_mine_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_mine_revenue:base/value | None | 31.5 |
| /operating_model/cells/base_2027q2_mine_unit_cost:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_mine_unit_cost:base/case | None | base |
| /operating_model/cells/base_2027q2_mine_unit_cost:base/id | None | base_2027q2_mine_unit_cost |
| /operating_model/cells/base_2027q2_mine_unit_cost:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_mine_unit_cost:base/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/base_2027q2_mine_unit_cost:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_mine_unit_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_mine_unit_cost:base/value | None | 0.014 |
| /operating_model/cells/base_2027q2_mine_utilization:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_mine_utilization:base/case | None | base |
| /operating_model/cells/base_2027q2_mine_utilization:base/id | None | base_2027q2_mine_utilization |
| /operating_model/cells/base_2027q2_mine_utilization:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_mine_utilization:base/label | None | Capacity to recognized sales factor |
| /operating_model/cells/base_2027q2_mine_utilization:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_mine_utilization:base/unit | None | ratio |
| /operating_model/cells/base_2027q2_mine_utilization:base/value | None | 0.875 |
| /operating_model/cells/base_2027q2_mine_variable_cost:base/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/base_2027q2_mine_variable_cost:base/case | None | base |
| /operating_model/cells/base_2027q2_mine_variable_cost:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q2_mine_variable_cost:base/formula/refs/0 | None | base_2027q2_recognized_tonnes |
| /operating_model/cells/base_2027q2_mine_variable_cost:base/formula/refs/1 | None | base_2027q2_mine_unit_cost |
| /operating_model/cells/base_2027q2_mine_variable_cost:base/id | None | base_2027q2_mine_variable_cost |
| /operating_model/cells/base_2027q2_mine_variable_cost:base/kind | None | derived |
| /operating_model/cells/base_2027q2_mine_variable_cost:base/label | None | Variable mine cash cost |
| /operating_model/cells/base_2027q2_mine_variable_cost:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_mine_variable_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_mine_variable_cost:base/value | None | 14.700000000000001 |
| /operating_model/cells/base_2027q2_minority_investment:base/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/base_2027q2_minority_investment:base/case | None | base |
| /operating_model/cells/base_2027q2_minority_investment:base/id | None | base_2027q2_minority_investment |
| /operating_model/cells/base_2027q2_minority_investment:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_minority_investment:base/label | None | Carester minority investment cash |
| /operating_model/cells/base_2027q2_minority_investment:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_minority_investment:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_minority_investment:base/value | None | 0.0 |
| /operating_model/cells/base_2027q2_new_acquisition:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_new_acquisition:base/case | None | base |
| /operating_model/cells/base_2027q2_new_acquisition:base/id | None | base_2027q2_new_acquisition |
| /operating_model/cells/base_2027q2_new_acquisition:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_new_acquisition:base/label | None | Other acquisition purchase cash |
| /operating_model/cells/base_2027q2_new_acquisition:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_new_acquisition:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_new_acquisition:base/value | None | 0.0 |
| /operating_model/cells/base_2027q2_operating_cash_uses:base/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/base_2027q2_operating_cash_uses:base/case | None | base |
| /operating_model/cells/base_2027q2_operating_cash_uses:base/formula/op | None | sum |
| /operating_model/cells/base_2027q2_operating_cash_uses:base/formula/refs/0 | None | base_2027q2_dfc_interest |
| /operating_model/cells/base_2027q2_operating_cash_uses:base/formula/refs/1 | None | base_2027q2_cash_tax |
| /operating_model/cells/base_2027q2_operating_cash_uses:base/formula/refs/2 | None | base_2027q2_working_capital |
| /operating_model/cells/base_2027q2_operating_cash_uses:base/id | None | base_2027q2_operating_cash_uses |
| /operating_model/cells/base_2027q2_operating_cash_uses:base/kind | None | derived |
| /operating_model/cells/base_2027q2_operating_cash_uses:base/label | None | Interest tax and working-capital use |
| /operating_model/cells/base_2027q2_operating_cash_uses:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_operating_cash_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_operating_cash_uses:base/value | None | 36.796875 |
| /operating_model/cells/base_2027q2_operating_costs:base/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/base_2027q2_operating_costs:base/case | None | base |
| /operating_model/cells/base_2027q2_operating_costs:base/formula/op | None | sum |
| /operating_model/cells/base_2027q2_operating_costs:base/formula/refs/0 | None | base_2027q2_cash_overhead |
| /operating_model/cells/base_2027q2_operating_costs:base/formula/refs/1 | None | base_2027q2_royalty_cash |
| /operating_model/cells/base_2027q2_operating_costs:base/formula/refs/2 | None | base_2027q2_da |
| /operating_model/cells/base_2027q2_operating_costs:base/formula/refs/3 | None | base_2027q2_sbc |
| /operating_model/cells/base_2027q2_operating_costs:base/formula/refs/4 | None | base_2027q2_transaction_cost |
| /operating_model/cells/base_2027q2_operating_costs:base/id | None | base_2027q2_operating_costs |
| /operating_model/cells/base_2027q2_operating_costs:base/kind | None | derived |
| /operating_model/cells/base_2027q2_operating_costs:base/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/base_2027q2_operating_costs:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_operating_costs:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_operating_costs:base/value | None | 80.65375 |
| /operating_model/cells/base_2027q2_operating_income:base/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/base_2027q2_operating_income:base/case | None | base |
| /operating_model/cells/base_2027q2_operating_income:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q2_operating_income:base/formula/refs/0 | None | base_2027q2_gross_contribution |
| /operating_model/cells/base_2027q2_operating_income:base/formula/refs/1 | None | base_2027q2_operating_costs |
| /operating_model/cells/base_2027q2_operating_income:base/id | None | base_2027q2_operating_income |
| /operating_model/cells/base_2027q2_operating_income:base/kind | None | derived |
| /operating_model/cells/base_2027q2_operating_income:base/label | None | Operating income proxy |
| /operating_model/cells/base_2027q2_operating_income:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_operating_income:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_operating_income:base/value | None | -75.21375 |
| /operating_model/cells/base_2027q2_other_investing:base/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/base_2027q2_other_investing:base/case | None | base |
| /operating_model/cells/base_2027q2_other_investing:base/formula/op | None | sum |
| /operating_model/cells/base_2027q2_other_investing:base/formula/refs/0 | None | base_2027q2_acquisition_cash |
| /operating_model/cells/base_2027q2_other_investing:base/formula/refs/1 | None | base_2027q2_minority_investment |
| /operating_model/cells/base_2027q2_other_investing:base/id | None | base_2027q2_other_investing |
| /operating_model/cells/base_2027q2_other_investing:base/kind | None | derived |
| /operating_model/cells/base_2027q2_other_investing:base/label | None | Acquisition and minority cash |
| /operating_model/cells/base_2027q2_other_investing:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_other_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_other_investing:base/value | None | 0.0 |
| /operating_model/cells/base_2027q2_ownership_fraction:base/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/base_2027q2_ownership_fraction:base/case | None | base |
| /operating_model/cells/base_2027q2_ownership_fraction:base/id | None | base_2027q2_ownership_fraction |
| /operating_model/cells/base_2027q2_ownership_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_ownership_fraction:base/label | None | Consolidated fraction of quarter |
| /operating_model/cells/base_2027q2_ownership_fraction:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_ownership_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q2_ownership_fraction:base/value | None | 1.0 |
| /operating_model/cells/base_2027q2_quarter_fraction:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_quarter_fraction:base/case | None | base |
| /operating_model/cells/base_2027q2_quarter_fraction:base/id | None | base_2027q2_quarter_fraction |
| /operating_model/cells/base_2027q2_quarter_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_quarter_fraction:base/label | None | Annual-to-quarter fraction |
| /operating_model/cells/base_2027q2_quarter_fraction:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_quarter_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q2_quarter_fraction:base/value | None | 0.25 |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/case | None | base |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/formula/refs/0 | None | base_2027q2_average_capacity |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/formula/refs/1 | None | base_2027q2_quarter_fraction |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/formula/refs/2 | None | base_2027q2_mine_utilization |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/formula/refs/3 | None | base_2027q2_ownership_fraction |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/id | None | base_2027q2_recognized_tonnes |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/kind | None | derived |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/unit | None | ratio |
| /operating_model/cells/base_2027q2_recognized_tonnes:base/value | None | 1050.0 |
| /operating_model/cells/base_2027q2_revenue:base/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/base_2027q2_revenue:base/case | None | base |
| /operating_model/cells/base_2027q2_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_2027q2_revenue:base/formula/refs/0 | None | base_2027q2_legacy_revenue |
| /operating_model/cells/base_2027q2_revenue:base/formula/refs/1 | None | base_2027q2_mine_revenue |
| /operating_model/cells/base_2027q2_revenue:base/formula/refs/2 | None | base_2027q2_magnet_revenue |
| /operating_model/cells/base_2027q2_revenue:base/id | None | base_2027q2_revenue |
| /operating_model/cells/base_2027q2_revenue:base/kind | None | derived |
| /operating_model/cells/base_2027q2_revenue:base/label | None | Consolidated revenue |
| /operating_model/cells/base_2027q2_revenue:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_revenue:base/value | None | 50.7 |
| /operating_model/cells/base_2027q2_royalty_cash:base/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/base_2027q2_royalty_cash:base/case | None | base |
| /operating_model/cells/base_2027q2_royalty_cash:base/formula/op | None | sum |
| /operating_model/cells/base_2027q2_royalty_cash:base/formula/refs/0 | None | base_2027q2_royalty_variable |
| /operating_model/cells/base_2027q2_royalty_cash:base/formula/refs/1 | None | base_2027q2_royalty_topup |
| /operating_model/cells/base_2027q2_royalty_cash:base/id | None | base_2027q2_royalty_cash |
| /operating_model/cells/base_2027q2_royalty_cash:base/kind | None | derived |
| /operating_model/cells/base_2027q2_royalty_cash:base/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/base_2027q2_royalty_cash:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_royalty_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_royalty_cash:base/value | None | 6.65375 |
| /operating_model/cells/base_2027q2_royalty_topup:base/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/base_2027q2_royalty_topup:base/case | None | base |
| /operating_model/cells/base_2027q2_royalty_topup:base/id | None | base_2027q2_royalty_topup |
| /operating_model/cells/base_2027q2_royalty_topup:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_royalty_topup:base/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/base_2027q2_royalty_topup:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_royalty_topup:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_royalty_topup:base/value | None | 5.0 |
| /operating_model/cells/base_2027q2_royalty_variable:base/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/base_2027q2_royalty_variable:base/case | None | base |
| /operating_model/cells/base_2027q2_royalty_variable:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q2_royalty_variable:base/formula/refs/0 | None | base_2027q2_mine_revenue |
| /operating_model/cells/base_2027q2_royalty_variable:base/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/base_2027q2_royalty_variable:base/id | None | base_2027q2_royalty_variable |
| /operating_model/cells/base_2027q2_royalty_variable:base/kind | None | derived |
| /operating_model/cells/base_2027q2_royalty_variable:base/label | None | Variable mine royalty |
| /operating_model/cells/base_2027q2_royalty_variable:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_royalty_variable:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_royalty_variable:base/value | None | 1.6537499999999998 |
| /operating_model/cells/base_2027q2_sbc:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_sbc:base/case | None | base |
| /operating_model/cells/base_2027q2_sbc:base/id | None | base_2027q2_sbc |
| /operating_model/cells/base_2027q2_sbc:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_sbc:base/label | None | Operating SBC |
| /operating_model/cells/base_2027q2_sbc:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_sbc:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_sbc:base/value | None | 11.0 |
| /operating_model/cells/base_2027q2_transaction_cost:base/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/base_2027q2_transaction_cost:base/case | None | base |
| /operating_model/cells/base_2027q2_transaction_cost:base/id | None | base_2027q2_transaction_cost |
| /operating_model/cells/base_2027q2_transaction_cost:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_transaction_cost:base/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/base_2027q2_transaction_cost:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_transaction_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_transaction_cost:base/value | None | 0.0 |
| /operating_model/cells/base_2027q2_treasury_income:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_treasury_income:base/case | None | base |
| /operating_model/cells/base_2027q2_treasury_income:base/id | None | base_2027q2_treasury_income |
| /operating_model/cells/base_2027q2_treasury_income:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_treasury_income:base/label | None | Cash treasury income |
| /operating_model/cells/base_2027q2_treasury_income:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_treasury_income:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_treasury_income:base/value | None | 6.0 |
| /operating_model/cells/base_2027q2_treo_price:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_treo_price:base/case | None | base |
| /operating_model/cells/base_2027q2_treo_price:base/id | None | base_2027q2_treo_price |
| /operating_model/cells/base_2027q2_treo_price:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_treo_price:base/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/base_2027q2_treo_price:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_treo_price:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_treo_price:base/value | None | 0.03 |
| /operating_model/cells/base_2027q2_working_capital:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q2_working_capital:base/case | None | base |
| /operating_model/cells/base_2027q2_working_capital:base/id | None | base_2027q2_working_capital |
| /operating_model/cells/base_2027q2_working_capital:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_working_capital:base/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/base_2027q2_working_capital:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_working_capital:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_working_capital:base/value | None | 30.0 |
| /operating_model/cells/base_2027q3_acquired_cash:base/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/base_2027q3_acquired_cash:base/case | None | base |
| /operating_model/cells/base_2027q3_acquired_cash:base/id | None | base_2027q3_acquired_cash |
| /operating_model/cells/base_2027q3_acquired_cash:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_acquired_cash:base/label | None | Cash acquired at closing |
| /operating_model/cells/base_2027q3_acquired_cash:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_acquired_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_acquired_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2027q3_acquisition_cash:base/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/base_2027q3_acquisition_cash:base/case | None | base |
| /operating_model/cells/base_2027q3_acquisition_cash:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q3_acquisition_cash:base/formula/refs/0 | None | base_2027q3_new_acquisition |
| /operating_model/cells/base_2027q3_acquisition_cash:base/formula/refs/1 | None | base_2027q3_acquired_cash |
| /operating_model/cells/base_2027q3_acquisition_cash:base/id | None | base_2027q3_acquisition_cash |
| /operating_model/cells/base_2027q3_acquisition_cash:base/kind | None | derived |
| /operating_model/cells/base_2027q3_acquisition_cash:base/label | None | Net acquisition cash |
| /operating_model/cells/base_2027q3_acquisition_cash:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_acquisition_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_acquisition_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2027q3_average_capacity:base/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/base_2027q3_average_capacity:base/case | None | base |
| /operating_model/cells/base_2027q3_average_capacity:base/id | None | base_2027q3_average_capacity |
| /operating_model/cells/base_2027q3_average_capacity:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_average_capacity:base/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/base_2027q3_average_capacity:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_average_capacity:base/unit | None | ratio |
| /operating_model/cells/base_2027q3_average_capacity:base/value | None | 5800.0 |
| /operating_model/cells/base_2027q3_capex:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_capex:base/case | None | base |
| /operating_model/cells/base_2027q3_capex:base/id | None | base_2027q3_capex |
| /operating_model/cells/base_2027q3_capex:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_capex:base/label | None | Cash capex and equipment deposits |
| /operating_model/cells/base_2027q3_capex:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_capex:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_capex:base/value | None | 190.0 |
| /operating_model/cells/base_2027q3_cash_after_investing:base/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/base_2027q3_cash_after_investing:base/case | None | base |
| /operating_model/cells/base_2027q3_cash_after_investing:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q3_cash_after_investing:base/formula/refs/0 | None | base_2027q3_fcf |
| /operating_model/cells/base_2027q3_cash_after_investing:base/formula/refs/1 | None | base_2027q3_other_investing |
| /operating_model/cells/base_2027q3_cash_after_investing:base/id | None | base_2027q3_cash_after_investing |
| /operating_model/cells/base_2027q3_cash_after_investing:base/kind | None | derived |
| /operating_model/cells/base_2027q3_cash_after_investing:base/label | None | Cash after business investing |
| /operating_model/cells/base_2027q3_cash_after_investing:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_cash_after_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_cash_after_investing:base/value | None | -277.848125 |
| /operating_model/cells/base_2027q3_cash_earnings:base/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/base_2027q3_cash_earnings:base/case | None | base |
| /operating_model/cells/base_2027q3_cash_earnings:base/formula/op | None | sum |
| /operating_model/cells/base_2027q3_cash_earnings:base/formula/refs/0 | None | base_2027q3_operating_income |
| /operating_model/cells/base_2027q3_cash_earnings:base/formula/refs/1 | None | base_2027q3_da |
| /operating_model/cells/base_2027q3_cash_earnings:base/formula/refs/2 | None | base_2027q3_sbc |
| /operating_model/cells/base_2027q3_cash_earnings:base/formula/refs/3 | None | base_2027q3_treasury_income |
| /operating_model/cells/base_2027q3_cash_earnings:base/id | None | base_2027q3_cash_earnings |
| /operating_model/cells/base_2027q3_cash_earnings:base/kind | None | derived |
| /operating_model/cells/base_2027q3_cash_earnings:base/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/base_2027q3_cash_earnings:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_cash_earnings:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_cash_earnings:base/value | None | -46.05125000000001 |
| /operating_model/cells/base_2027q3_cash_overhead:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_cash_overhead:base/case | None | base |
| /operating_model/cells/base_2027q3_cash_overhead:base/id | None | base_2027q3_cash_overhead |
| /operating_model/cells/base_2027q3_cash_overhead:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_cash_overhead:base/label | None | Cash SG&A and development |
| /operating_model/cells/base_2027q3_cash_overhead:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_cash_overhead:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_cash_overhead:base/value | None | 52.0 |
| /operating_model/cells/base_2027q3_cash_tax:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_cash_tax:base/case | None | base |
| /operating_model/cells/base_2027q3_cash_tax:base/id | None | base_2027q3_cash_tax |
| /operating_model/cells/base_2027q3_cash_tax:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_cash_tax:base/label | None | Cash taxes |
| /operating_model/cells/base_2027q3_cash_tax:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_cash_tax:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_cash_tax:base/value | None | 0.5 |
| /operating_model/cells/base_2027q3_cfo:base/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/base_2027q3_cfo:base/case | None | base |
| /operating_model/cells/base_2027q3_cfo:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q3_cfo:base/formula/refs/0 | None | base_2027q3_cash_earnings |
| /operating_model/cells/base_2027q3_cfo:base/formula/refs/1 | None | base_2027q3_operating_cash_uses |
| /operating_model/cells/base_2027q3_cfo:base/id | None | base_2027q3_cfo |
| /operating_model/cells/base_2027q3_cfo:base/kind | None | derived |
| /operating_model/cells/base_2027q3_cfo:base/label | None | Operating cash flow proxy |
| /operating_model/cells/base_2027q3_cfo:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_cfo:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_cfo:base/value | None | -87.84812500000001 |
| /operating_model/cells/base_2027q3_da:base/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/base_2027q3_da:base/case | None | base |
| /operating_model/cells/base_2027q3_da:base/id | None | base_2027q3_da |
| /operating_model/cells/base_2027q3_da:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_da:base/label | None | Consolidated operating D&A |
| /operating_model/cells/base_2027q3_da:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_da:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_da:base/value | None | 17.0 |
| /operating_model/cells/base_2027q3_dfc_interest:base/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/base_2027q3_dfc_interest:base/case | None | base |
| /operating_model/cells/base_2027q3_dfc_interest:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q3_dfc_interest:base/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/base_2027q3_dfc_interest:base/formula/refs/1 | None | base_2027q3_dfc_rate |
| /operating_model/cells/base_2027q3_dfc_interest:base/formula/refs/2 | None | base_2027q3_interest_fraction |
| /operating_model/cells/base_2027q3_dfc_interest:base/id | None | base_2027q3_dfc_interest |
| /operating_model/cells/base_2027q3_dfc_interest:base/kind | None | derived |
| /operating_model/cells/base_2027q3_dfc_interest:base/label | None | DFC cash coupon proxy |
| /operating_model/cells/base_2027q3_dfc_interest:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_dfc_interest:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_dfc_interest:base/value | None | 6.296875 |
| /operating_model/cells/base_2027q3_dfc_rate:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_dfc_rate:base/case | None | base |
| /operating_model/cells/base_2027q3_dfc_rate:base/id | None | base_2027q3_dfc_rate |
| /operating_model/cells/base_2027q3_dfc_rate:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_dfc_rate:base/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/base_2027q3_dfc_rate:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_dfc_rate:base/unit | None | ratio |
| /operating_model/cells/base_2027q3_dfc_rate:base/value | None | 0.0775 |
| /operating_model/cells/base_2027q3_fcf:base/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/base_2027q3_fcf:base/case | None | base |
| /operating_model/cells/base_2027q3_fcf:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q3_fcf:base/formula/refs/0 | None | base_2027q3_cfo |
| /operating_model/cells/base_2027q3_fcf:base/formula/refs/1 | None | base_2027q3_capex |
| /operating_model/cells/base_2027q3_fcf:base/id | None | base_2027q3_fcf |
| /operating_model/cells/base_2027q3_fcf:base/kind | None | derived |
| /operating_model/cells/base_2027q3_fcf:base/label | None | CFO less cash capital investment |
| /operating_model/cells/base_2027q3_fcf:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_fcf:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_fcf:base/value | None | -277.848125 |
| /operating_model/cells/base_2027q3_gross_contribution:base/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/base_2027q3_gross_contribution:base/case | None | base |
| /operating_model/cells/base_2027q3_gross_contribution:base/formula/op | None | sum |
| /operating_model/cells/base_2027q3_gross_contribution:base/formula/refs/0 | None | base_2027q3_legacy_gross |
| /operating_model/cells/base_2027q3_gross_contribution:base/formula/refs/1 | None | base_2027q3_mine_gross |
| /operating_model/cells/base_2027q3_gross_contribution:base/formula/refs/2 | None | base_2027q3_magnet_gross |
| /operating_model/cells/base_2027q3_gross_contribution:base/id | None | base_2027q3_gross_contribution |
| /operating_model/cells/base_2027q3_gross_contribution:base/kind | None | derived |
| /operating_model/cells/base_2027q3_gross_contribution:base/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/base_2027q3_gross_contribution:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_gross_contribution:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_gross_contribution:base/value | None | 7.759999999999998 |
| /operating_model/cells/base_2027q3_interest_fraction:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_interest_fraction:base/case | None | base |
| /operating_model/cells/base_2027q3_interest_fraction:base/id | None | base_2027q3_interest_fraction |
| /operating_model/cells/base_2027q3_interest_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_interest_fraction:base/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/base_2027q3_interest_fraction:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_interest_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q3_interest_fraction:base/value | None | 0.25 |
| /operating_model/cells/base_2027q3_legacy_gross:base/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/base_2027q3_legacy_gross:base/case | None | base |
| /operating_model/cells/base_2027q3_legacy_gross:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q3_legacy_gross:base/formula/refs/0 | None | base_2027q3_legacy_revenue |
| /operating_model/cells/base_2027q3_legacy_gross:base/formula/refs/1 | None | base_2027q3_legacy_margin |
| /operating_model/cells/base_2027q3_legacy_gross:base/id | None | base_2027q3_legacy_gross |
| /operating_model/cells/base_2027q3_legacy_gross:base/kind | None | derived |
| /operating_model/cells/base_2027q3_legacy_gross:base/label | None | Legacy cash gross contribution |
| /operating_model/cells/base_2027q3_legacy_gross:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_legacy_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_legacy_gross:base/value | None | 2.52 |
| /operating_model/cells/base_2027q3_legacy_margin:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_legacy_margin:base/case | None | base |
| /operating_model/cells/base_2027q3_legacy_margin:base/id | None | base_2027q3_legacy_margin |
| /operating_model/cells/base_2027q3_legacy_margin:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_legacy_margin:base/label | None | Legacy margin before D&A |
| /operating_model/cells/base_2027q3_legacy_margin:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_legacy_margin:base/unit | None | ratio |
| /operating_model/cells/base_2027q3_legacy_margin:base/value | None | 0.18 |
| /operating_model/cells/base_2027q3_legacy_revenue:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_legacy_revenue:base/case | None | base |
| /operating_model/cells/base_2027q3_legacy_revenue:base/id | None | base_2027q3_legacy_revenue |
| /operating_model/cells/base_2027q3_legacy_revenue:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_legacy_revenue:base/label | None | Legacy alloy and services revenue |
| /operating_model/cells/base_2027q3_legacy_revenue:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_legacy_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_legacy_revenue:base/value | None | 14.0 |
| /operating_model/cells/base_2027q3_magnet_gross:base/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/base_2027q3_magnet_gross:base/case | None | base |
| /operating_model/cells/base_2027q3_magnet_gross:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q3_magnet_gross:base/formula/refs/0 | None | base_2027q3_magnet_revenue |
| /operating_model/cells/base_2027q3_magnet_gross:base/formula/refs/1 | None | base_2027q3_magnet_margin |
| /operating_model/cells/base_2027q3_magnet_gross:base/id | None | base_2027q3_magnet_gross |
| /operating_model/cells/base_2027q3_magnet_gross:base/kind | None | derived |
| /operating_model/cells/base_2027q3_magnet_gross:base/label | None | Magnet ramp cash contribution |
| /operating_model/cells/base_2027q3_magnet_gross:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_magnet_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_magnet_gross:base/value | None | -2.1600000000000006 |
| /operating_model/cells/base_2027q3_magnet_margin:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_magnet_margin:base/case | None | base |
| /operating_model/cells/base_2027q3_magnet_margin:base/id | None | base_2027q3_magnet_margin |
| /operating_model/cells/base_2027q3_magnet_margin:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_magnet_margin:base/label | None | Magnet cash gross margin |
| /operating_model/cells/base_2027q3_magnet_margin:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_magnet_margin:base/unit | None | ratio |
| /operating_model/cells/base_2027q3_magnet_margin:base/value | None | -0.20000000000000007 |
| /operating_model/cells/base_2027q3_magnet_price:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_magnet_price:base/case | None | base |
| /operating_model/cells/base_2027q3_magnet_price:base/id | None | base_2027q3_magnet_price |
| /operating_model/cells/base_2027q3_magnet_price:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_magnet_price:base/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/base_2027q3_magnet_price:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_magnet_price:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_magnet_price:base/value | None | 0.06 |
| /operating_model/cells/base_2027q3_magnet_revenue:base/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/base_2027q3_magnet_revenue:base/case | None | base |
| /operating_model/cells/base_2027q3_magnet_revenue:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q3_magnet_revenue:base/formula/refs/0 | None | base_2027q3_magnet_tonnes |
| /operating_model/cells/base_2027q3_magnet_revenue:base/formula/refs/1 | None | base_2027q3_magnet_price |
| /operating_model/cells/base_2027q3_magnet_revenue:base/id | None | base_2027q3_magnet_revenue |
| /operating_model/cells/base_2027q3_magnet_revenue:base/kind | None | derived |
| /operating_model/cells/base_2027q3_magnet_revenue:base/label | None | Accepted magnet sales |
| /operating_model/cells/base_2027q3_magnet_revenue:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_magnet_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_magnet_revenue:base/value | None | 10.799999999999999 |
| /operating_model/cells/base_2027q3_magnet_tonnes:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_magnet_tonnes:base/case | None | base |
| /operating_model/cells/base_2027q3_magnet_tonnes:base/id | None | base_2027q3_magnet_tonnes |
| /operating_model/cells/base_2027q3_magnet_tonnes:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_magnet_tonnes:base/label | None | Accepted external magnet tonnes |
| /operating_model/cells/base_2027q3_magnet_tonnes:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_magnet_tonnes:base/unit | None | ratio |
| /operating_model/cells/base_2027q3_magnet_tonnes:base/value | None | 180.0 |
| /operating_model/cells/base_2027q3_mine_cash_cost:base/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/base_2027q3_mine_cash_cost:base/case | None | base |
| /operating_model/cells/base_2027q3_mine_cash_cost:base/formula/op | None | sum |
| /operating_model/cells/base_2027q3_mine_cash_cost:base/formula/refs/0 | None | base_2027q3_mine_variable_cost |
| /operating_model/cells/base_2027q3_mine_cash_cost:base/formula/refs/1 | None | base_2027q3_mine_fixed_cost |
| /operating_model/cells/base_2027q3_mine_cash_cost:base/id | None | base_2027q3_mine_cash_cost |
| /operating_model/cells/base_2027q3_mine_cash_cost:base/kind | None | derived |
| /operating_model/cells/base_2027q3_mine_cash_cost:base/label | None | Mine cash production cost |
| /operating_model/cells/base_2027q3_mine_cash_cost:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_mine_cash_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_mine_cash_cost:base/value | None | 27.1 |
| /operating_model/cells/base_2027q3_mine_fixed_cost:base/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/base_2027q3_mine_fixed_cost:base/case | None | base |
| /operating_model/cells/base_2027q3_mine_fixed_cost:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q3_mine_fixed_cost:base/formula/refs/0 | None | base_2027q3_mine_fixed_full |
| /operating_model/cells/base_2027q3_mine_fixed_cost:base/formula/refs/1 | None | base_2027q3_ownership_fraction |
| /operating_model/cells/base_2027q3_mine_fixed_cost:base/id | None | base_2027q3_mine_fixed_cost |
| /operating_model/cells/base_2027q3_mine_fixed_cost:base/kind | None | derived |
| /operating_model/cells/base_2027q3_mine_fixed_cost:base/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/base_2027q3_mine_fixed_cost:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_mine_fixed_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_mine_fixed_cost:base/value | None | 11.0 |
| /operating_model/cells/base_2027q3_mine_fixed_full:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_mine_fixed_full:base/case | None | base |
| /operating_model/cells/base_2027q3_mine_fixed_full:base/id | None | base_2027q3_mine_fixed_full |
| /operating_model/cells/base_2027q3_mine_fixed_full:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_mine_fixed_full:base/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/base_2027q3_mine_fixed_full:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_mine_fixed_full:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_mine_fixed_full:base/value | None | 11.0 |
| /operating_model/cells/base_2027q3_mine_gross:base/basis | None | Royalty below contribution. |
| /operating_model/cells/base_2027q3_mine_gross:base/case | None | base |
| /operating_model/cells/base_2027q3_mine_gross:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q3_mine_gross:base/formula/refs/0 | None | base_2027q3_mine_revenue |
| /operating_model/cells/base_2027q3_mine_gross:base/formula/refs/1 | None | base_2027q3_mine_cash_cost |
| /operating_model/cells/base_2027q3_mine_gross:base/id | None | base_2027q3_mine_gross |
| /operating_model/cells/base_2027q3_mine_gross:base/kind | None | derived |
| /operating_model/cells/base_2027q3_mine_gross:base/label | None | Mine revenue less cash production |
| /operating_model/cells/base_2027q3_mine_gross:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_mine_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_mine_gross:base/value | None | 7.399999999999999 |
| /operating_model/cells/base_2027q3_mine_revenue:base/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/base_2027q3_mine_revenue:base/case | None | base |
| /operating_model/cells/base_2027q3_mine_revenue:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q3_mine_revenue:base/formula/refs/0 | None | base_2027q3_recognized_tonnes |
| /operating_model/cells/base_2027q3_mine_revenue:base/formula/refs/1 | None | base_2027q3_treo_price |
| /operating_model/cells/base_2027q3_mine_revenue:base/id | None | base_2027q3_mine_revenue |
| /operating_model/cells/base_2027q3_mine_revenue:base/kind | None | derived |
| /operating_model/cells/base_2027q3_mine_revenue:base/label | None | Post-close TREO revenue |
| /operating_model/cells/base_2027q3_mine_revenue:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_mine_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_mine_revenue:base/value | None | 34.5 |
| /operating_model/cells/base_2027q3_mine_unit_cost:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_mine_unit_cost:base/case | None | base |
| /operating_model/cells/base_2027q3_mine_unit_cost:base/id | None | base_2027q3_mine_unit_cost |
| /operating_model/cells/base_2027q3_mine_unit_cost:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_mine_unit_cost:base/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/base_2027q3_mine_unit_cost:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_mine_unit_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_mine_unit_cost:base/value | None | 0.014 |
| /operating_model/cells/base_2027q3_mine_utilization:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_mine_utilization:base/case | None | base |
| /operating_model/cells/base_2027q3_mine_utilization:base/id | None | base_2027q3_mine_utilization |
| /operating_model/cells/base_2027q3_mine_utilization:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_mine_utilization:base/label | None | Capacity to recognized sales factor |
| /operating_model/cells/base_2027q3_mine_utilization:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_mine_utilization:base/unit | None | ratio |
| /operating_model/cells/base_2027q3_mine_utilization:base/value | None | 0.7931034482758621 |
| /operating_model/cells/base_2027q3_mine_variable_cost:base/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/base_2027q3_mine_variable_cost:base/case | None | base |
| /operating_model/cells/base_2027q3_mine_variable_cost:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q3_mine_variable_cost:base/formula/refs/0 | None | base_2027q3_recognized_tonnes |
| /operating_model/cells/base_2027q3_mine_variable_cost:base/formula/refs/1 | None | base_2027q3_mine_unit_cost |
| /operating_model/cells/base_2027q3_mine_variable_cost:base/id | None | base_2027q3_mine_variable_cost |
| /operating_model/cells/base_2027q3_mine_variable_cost:base/kind | None | derived |
| /operating_model/cells/base_2027q3_mine_variable_cost:base/label | None | Variable mine cash cost |
| /operating_model/cells/base_2027q3_mine_variable_cost:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_mine_variable_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_mine_variable_cost:base/value | None | 16.1 |
| /operating_model/cells/base_2027q3_minority_investment:base/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/base_2027q3_minority_investment:base/case | None | base |
| /operating_model/cells/base_2027q3_minority_investment:base/id | None | base_2027q3_minority_investment |
| /operating_model/cells/base_2027q3_minority_investment:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_minority_investment:base/label | None | Carester minority investment cash |
| /operating_model/cells/base_2027q3_minority_investment:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_minority_investment:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_minority_investment:base/value | None | 0.0 |
| /operating_model/cells/base_2027q3_new_acquisition:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_new_acquisition:base/case | None | base |
| /operating_model/cells/base_2027q3_new_acquisition:base/id | None | base_2027q3_new_acquisition |
| /operating_model/cells/base_2027q3_new_acquisition:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_new_acquisition:base/label | None | Other acquisition purchase cash |
| /operating_model/cells/base_2027q3_new_acquisition:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_new_acquisition:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_new_acquisition:base/value | None | 0.0 |
| /operating_model/cells/base_2027q3_operating_cash_uses:base/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/base_2027q3_operating_cash_uses:base/case | None | base |
| /operating_model/cells/base_2027q3_operating_cash_uses:base/formula/op | None | sum |
| /operating_model/cells/base_2027q3_operating_cash_uses:base/formula/refs/0 | None | base_2027q3_dfc_interest |
| /operating_model/cells/base_2027q3_operating_cash_uses:base/formula/refs/1 | None | base_2027q3_cash_tax |
| /operating_model/cells/base_2027q3_operating_cash_uses:base/formula/refs/2 | None | base_2027q3_working_capital |
| /operating_model/cells/base_2027q3_operating_cash_uses:base/id | None | base_2027q3_operating_cash_uses |
| /operating_model/cells/base_2027q3_operating_cash_uses:base/kind | None | derived |
| /operating_model/cells/base_2027q3_operating_cash_uses:base/label | None | Interest tax and working-capital use |
| /operating_model/cells/base_2027q3_operating_cash_uses:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_operating_cash_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_operating_cash_uses:base/value | None | 41.796875 |
| /operating_model/cells/base_2027q3_operating_costs:base/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/base_2027q3_operating_costs:base/case | None | base |
| /operating_model/cells/base_2027q3_operating_costs:base/formula/op | None | sum |
| /operating_model/cells/base_2027q3_operating_costs:base/formula/refs/0 | None | base_2027q3_cash_overhead |
| /operating_model/cells/base_2027q3_operating_costs:base/formula/refs/1 | None | base_2027q3_royalty_cash |
| /operating_model/cells/base_2027q3_operating_costs:base/formula/refs/2 | None | base_2027q3_da |
| /operating_model/cells/base_2027q3_operating_costs:base/formula/refs/3 | None | base_2027q3_sbc |
| /operating_model/cells/base_2027q3_operating_costs:base/formula/refs/4 | None | base_2027q3_transaction_cost |
| /operating_model/cells/base_2027q3_operating_costs:base/id | None | base_2027q3_operating_costs |
| /operating_model/cells/base_2027q3_operating_costs:base/kind | None | derived |
| /operating_model/cells/base_2027q3_operating_costs:base/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/base_2027q3_operating_costs:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_operating_costs:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_operating_costs:base/value | None | 87.81125 |
| /operating_model/cells/base_2027q3_operating_income:base/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/base_2027q3_operating_income:base/case | None | base |
| /operating_model/cells/base_2027q3_operating_income:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q3_operating_income:base/formula/refs/0 | None | base_2027q3_gross_contribution |
| /operating_model/cells/base_2027q3_operating_income:base/formula/refs/1 | None | base_2027q3_operating_costs |
| /operating_model/cells/base_2027q3_operating_income:base/id | None | base_2027q3_operating_income |
| /operating_model/cells/base_2027q3_operating_income:base/kind | None | derived |
| /operating_model/cells/base_2027q3_operating_income:base/label | None | Operating income proxy |
| /operating_model/cells/base_2027q3_operating_income:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_operating_income:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_operating_income:base/value | None | -80.05125000000001 |
| /operating_model/cells/base_2027q3_other_investing:base/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/base_2027q3_other_investing:base/case | None | base |
| /operating_model/cells/base_2027q3_other_investing:base/formula/op | None | sum |
| /operating_model/cells/base_2027q3_other_investing:base/formula/refs/0 | None | base_2027q3_acquisition_cash |
| /operating_model/cells/base_2027q3_other_investing:base/formula/refs/1 | None | base_2027q3_minority_investment |
| /operating_model/cells/base_2027q3_other_investing:base/id | None | base_2027q3_other_investing |
| /operating_model/cells/base_2027q3_other_investing:base/kind | None | derived |
| /operating_model/cells/base_2027q3_other_investing:base/label | None | Acquisition and minority cash |
| /operating_model/cells/base_2027q3_other_investing:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_other_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_other_investing:base/value | None | 0.0 |
| /operating_model/cells/base_2027q3_ownership_fraction:base/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/base_2027q3_ownership_fraction:base/case | None | base |
| /operating_model/cells/base_2027q3_ownership_fraction:base/id | None | base_2027q3_ownership_fraction |
| /operating_model/cells/base_2027q3_ownership_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_ownership_fraction:base/label | None | Consolidated fraction of quarter |
| /operating_model/cells/base_2027q3_ownership_fraction:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_ownership_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q3_ownership_fraction:base/value | None | 1.0 |
| /operating_model/cells/base_2027q3_quarter_fraction:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_quarter_fraction:base/case | None | base |
| /operating_model/cells/base_2027q3_quarter_fraction:base/id | None | base_2027q3_quarter_fraction |
| /operating_model/cells/base_2027q3_quarter_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_quarter_fraction:base/label | None | Annual-to-quarter fraction |
| /operating_model/cells/base_2027q3_quarter_fraction:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_quarter_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q3_quarter_fraction:base/value | None | 0.25 |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/case | None | base |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/formula/refs/0 | None | base_2027q3_average_capacity |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/formula/refs/1 | None | base_2027q3_quarter_fraction |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/formula/refs/2 | None | base_2027q3_mine_utilization |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/formula/refs/3 | None | base_2027q3_ownership_fraction |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/id | None | base_2027q3_recognized_tonnes |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/kind | None | derived |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/unit | None | ratio |
| /operating_model/cells/base_2027q3_recognized_tonnes:base/value | None | 1150.0 |
| /operating_model/cells/base_2027q3_revenue:base/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/base_2027q3_revenue:base/case | None | base |
| /operating_model/cells/base_2027q3_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_2027q3_revenue:base/formula/refs/0 | None | base_2027q3_legacy_revenue |
| /operating_model/cells/base_2027q3_revenue:base/formula/refs/1 | None | base_2027q3_mine_revenue |
| /operating_model/cells/base_2027q3_revenue:base/formula/refs/2 | None | base_2027q3_magnet_revenue |
| /operating_model/cells/base_2027q3_revenue:base/id | None | base_2027q3_revenue |
| /operating_model/cells/base_2027q3_revenue:base/kind | None | derived |
| /operating_model/cells/base_2027q3_revenue:base/label | None | Consolidated revenue |
| /operating_model/cells/base_2027q3_revenue:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_revenue:base/value | None | 59.3 |
| /operating_model/cells/base_2027q3_royalty_cash:base/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/base_2027q3_royalty_cash:base/case | None | base |
| /operating_model/cells/base_2027q3_royalty_cash:base/formula/op | None | sum |
| /operating_model/cells/base_2027q3_royalty_cash:base/formula/refs/0 | None | base_2027q3_royalty_variable |
| /operating_model/cells/base_2027q3_royalty_cash:base/formula/refs/1 | None | base_2027q3_royalty_topup |
| /operating_model/cells/base_2027q3_royalty_cash:base/id | None | base_2027q3_royalty_cash |
| /operating_model/cells/base_2027q3_royalty_cash:base/kind | None | derived |
| /operating_model/cells/base_2027q3_royalty_cash:base/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/base_2027q3_royalty_cash:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_royalty_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_royalty_cash:base/value | None | 6.81125 |
| /operating_model/cells/base_2027q3_royalty_topup:base/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/base_2027q3_royalty_topup:base/case | None | base |
| /operating_model/cells/base_2027q3_royalty_topup:base/id | None | base_2027q3_royalty_topup |
| /operating_model/cells/base_2027q3_royalty_topup:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_royalty_topup:base/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/base_2027q3_royalty_topup:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_royalty_topup:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_royalty_topup:base/value | None | 5.0 |
| /operating_model/cells/base_2027q3_royalty_variable:base/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/base_2027q3_royalty_variable:base/case | None | base |
| /operating_model/cells/base_2027q3_royalty_variable:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q3_royalty_variable:base/formula/refs/0 | None | base_2027q3_mine_revenue |
| /operating_model/cells/base_2027q3_royalty_variable:base/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/base_2027q3_royalty_variable:base/id | None | base_2027q3_royalty_variable |
| /operating_model/cells/base_2027q3_royalty_variable:base/kind | None | derived |
| /operating_model/cells/base_2027q3_royalty_variable:base/label | None | Variable mine royalty |
| /operating_model/cells/base_2027q3_royalty_variable:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_royalty_variable:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_royalty_variable:base/value | None | 1.81125 |
| /operating_model/cells/base_2027q3_sbc:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_sbc:base/case | None | base |
| /operating_model/cells/base_2027q3_sbc:base/id | None | base_2027q3_sbc |
| /operating_model/cells/base_2027q3_sbc:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_sbc:base/label | None | Operating SBC |
| /operating_model/cells/base_2027q3_sbc:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_sbc:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_sbc:base/value | None | 12.0 |
| /operating_model/cells/base_2027q3_transaction_cost:base/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/base_2027q3_transaction_cost:base/case | None | base |
| /operating_model/cells/base_2027q3_transaction_cost:base/id | None | base_2027q3_transaction_cost |
| /operating_model/cells/base_2027q3_transaction_cost:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_transaction_cost:base/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/base_2027q3_transaction_cost:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_transaction_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_transaction_cost:base/value | None | 0.0 |
| /operating_model/cells/base_2027q3_treasury_income:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_treasury_income:base/case | None | base |
| /operating_model/cells/base_2027q3_treasury_income:base/id | None | base_2027q3_treasury_income |
| /operating_model/cells/base_2027q3_treasury_income:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_treasury_income:base/label | None | Cash treasury income |
| /operating_model/cells/base_2027q3_treasury_income:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_treasury_income:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_treasury_income:base/value | None | 5.0 |
| /operating_model/cells/base_2027q3_treo_price:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_treo_price:base/case | None | base |
| /operating_model/cells/base_2027q3_treo_price:base/id | None | base_2027q3_treo_price |
| /operating_model/cells/base_2027q3_treo_price:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_treo_price:base/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/base_2027q3_treo_price:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_treo_price:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_treo_price:base/value | None | 0.03 |
| /operating_model/cells/base_2027q3_working_capital:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q3_working_capital:base/case | None | base |
| /operating_model/cells/base_2027q3_working_capital:base/id | None | base_2027q3_working_capital |
| /operating_model/cells/base_2027q3_working_capital:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_working_capital:base/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/base_2027q3_working_capital:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_working_capital:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_working_capital:base/value | None | 35.0 |
| /operating_model/cells/base_2027q4_acquired_cash:base/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/base_2027q4_acquired_cash:base/case | None | base |
| /operating_model/cells/base_2027q4_acquired_cash:base/id | None | base_2027q4_acquired_cash |
| /operating_model/cells/base_2027q4_acquired_cash:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_acquired_cash:base/label | None | Cash acquired at closing |
| /operating_model/cells/base_2027q4_acquired_cash:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_acquired_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_acquired_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2027q4_acquisition_cash:base/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/base_2027q4_acquisition_cash:base/case | None | base |
| /operating_model/cells/base_2027q4_acquisition_cash:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q4_acquisition_cash:base/formula/refs/0 | None | base_2027q4_new_acquisition |
| /operating_model/cells/base_2027q4_acquisition_cash:base/formula/refs/1 | None | base_2027q4_acquired_cash |
| /operating_model/cells/base_2027q4_acquisition_cash:base/id | None | base_2027q4_acquisition_cash |
| /operating_model/cells/base_2027q4_acquisition_cash:base/kind | None | derived |
| /operating_model/cells/base_2027q4_acquisition_cash:base/label | None | Net acquisition cash |
| /operating_model/cells/base_2027q4_acquisition_cash:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_acquisition_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_acquisition_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2027q4_average_capacity:base/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/base_2027q4_average_capacity:base/case | None | base |
| /operating_model/cells/base_2027q4_average_capacity:base/id | None | base_2027q4_average_capacity |
| /operating_model/cells/base_2027q4_average_capacity:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_average_capacity:base/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/base_2027q4_average_capacity:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_average_capacity:base/unit | None | ratio |
| /operating_model/cells/base_2027q4_average_capacity:base/value | None | 6400.0 |
| /operating_model/cells/base_2027q4_capex:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_capex:base/case | None | base |
| /operating_model/cells/base_2027q4_capex:base/id | None | base_2027q4_capex |
| /operating_model/cells/base_2027q4_capex:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_capex:base/label | None | Cash capex and equipment deposits |
| /operating_model/cells/base_2027q4_capex:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_capex:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_capex:base/value | None | 210.0 |
| /operating_model/cells/base_2027q4_cash_after_investing:base/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/base_2027q4_cash_after_investing:base/case | None | base |
| /operating_model/cells/base_2027q4_cash_after_investing:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q4_cash_after_investing:base/formula/refs/0 | None | base_2027q4_fcf |
| /operating_model/cells/base_2027q4_cash_after_investing:base/formula/refs/1 | None | base_2027q4_other_investing |
| /operating_model/cells/base_2027q4_cash_after_investing:base/id | None | base_2027q4_cash_after_investing |
| /operating_model/cells/base_2027q4_cash_after_investing:base/kind | None | derived |
| /operating_model/cells/base_2027q4_cash_after_investing:base/label | None | Cash after business investing |
| /operating_model/cells/base_2027q4_cash_after_investing:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_cash_after_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_cash_after_investing:base/value | None | -303.635625 |
| /operating_model/cells/base_2027q4_cash_earnings:base/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/base_2027q4_cash_earnings:base/case | None | base |
| /operating_model/cells/base_2027q4_cash_earnings:base/formula/op | None | sum |
| /operating_model/cells/base_2027q4_cash_earnings:base/formula/refs/0 | None | base_2027q4_operating_income |
| /operating_model/cells/base_2027q4_cash_earnings:base/formula/refs/1 | None | base_2027q4_da |
| /operating_model/cells/base_2027q4_cash_earnings:base/formula/refs/2 | None | base_2027q4_sbc |
| /operating_model/cells/base_2027q4_cash_earnings:base/formula/refs/3 | None | base_2027q4_treasury_income |
| /operating_model/cells/base_2027q4_cash_earnings:base/id | None | base_2027q4_cash_earnings |
| /operating_model/cells/base_2027q4_cash_earnings:base/kind | None | derived |
| /operating_model/cells/base_2027q4_cash_earnings:base/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/base_2027q4_cash_earnings:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_cash_earnings:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_cash_earnings:base/value | None | -46.838750000000005 |
| /operating_model/cells/base_2027q4_cash_overhead:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_cash_overhead:base/case | None | base |
| /operating_model/cells/base_2027q4_cash_overhead:base/id | None | base_2027q4_cash_overhead |
| /operating_model/cells/base_2027q4_cash_overhead:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_cash_overhead:base/label | None | Cash SG&A and development |
| /operating_model/cells/base_2027q4_cash_overhead:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_cash_overhead:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_cash_overhead:base/value | None | 55.0 |
| /operating_model/cells/base_2027q4_cash_tax:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_cash_tax:base/case | None | base |
| /operating_model/cells/base_2027q4_cash_tax:base/id | None | base_2027q4_cash_tax |
| /operating_model/cells/base_2027q4_cash_tax:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_cash_tax:base/label | None | Cash taxes |
| /operating_model/cells/base_2027q4_cash_tax:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_cash_tax:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_cash_tax:base/value | None | 0.5 |
| /operating_model/cells/base_2027q4_cfo:base/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/base_2027q4_cfo:base/case | None | base |
| /operating_model/cells/base_2027q4_cfo:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q4_cfo:base/formula/refs/0 | None | base_2027q4_cash_earnings |
| /operating_model/cells/base_2027q4_cfo:base/formula/refs/1 | None | base_2027q4_operating_cash_uses |
| /operating_model/cells/base_2027q4_cfo:base/id | None | base_2027q4_cfo |
| /operating_model/cells/base_2027q4_cfo:base/kind | None | derived |
| /operating_model/cells/base_2027q4_cfo:base/label | None | Operating cash flow proxy |
| /operating_model/cells/base_2027q4_cfo:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_cfo:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_cfo:base/value | None | -93.635625 |
| /operating_model/cells/base_2027q4_da:base/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/base_2027q4_da:base/case | None | base |
| /operating_model/cells/base_2027q4_da:base/id | None | base_2027q4_da |
| /operating_model/cells/base_2027q4_da:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_da:base/label | None | Consolidated operating D&A |
| /operating_model/cells/base_2027q4_da:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_da:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_da:base/value | None | 20.0 |
| /operating_model/cells/base_2027q4_dfc_interest:base/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/base_2027q4_dfc_interest:base/case | None | base |
| /operating_model/cells/base_2027q4_dfc_interest:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q4_dfc_interest:base/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/base_2027q4_dfc_interest:base/formula/refs/1 | None | base_2027q4_dfc_rate |
| /operating_model/cells/base_2027q4_dfc_interest:base/formula/refs/2 | None | base_2027q4_interest_fraction |
| /operating_model/cells/base_2027q4_dfc_interest:base/id | None | base_2027q4_dfc_interest |
| /operating_model/cells/base_2027q4_dfc_interest:base/kind | None | derived |
| /operating_model/cells/base_2027q4_dfc_interest:base/label | None | DFC cash coupon proxy |
| /operating_model/cells/base_2027q4_dfc_interest:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_dfc_interest:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_dfc_interest:base/value | None | 6.296875 |
| /operating_model/cells/base_2027q4_dfc_rate:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_dfc_rate:base/case | None | base |
| /operating_model/cells/base_2027q4_dfc_rate:base/id | None | base_2027q4_dfc_rate |
| /operating_model/cells/base_2027q4_dfc_rate:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_dfc_rate:base/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/base_2027q4_dfc_rate:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_dfc_rate:base/unit | None | ratio |
| /operating_model/cells/base_2027q4_dfc_rate:base/value | None | 0.0775 |
| /operating_model/cells/base_2027q4_fcf:base/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/base_2027q4_fcf:base/case | None | base |
| /operating_model/cells/base_2027q4_fcf:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q4_fcf:base/formula/refs/0 | None | base_2027q4_cfo |
| /operating_model/cells/base_2027q4_fcf:base/formula/refs/1 | None | base_2027q4_capex |
| /operating_model/cells/base_2027q4_fcf:base/id | None | base_2027q4_fcf |
| /operating_model/cells/base_2027q4_fcf:base/kind | None | derived |
| /operating_model/cells/base_2027q4_fcf:base/label | None | CFO less cash capital investment |
| /operating_model/cells/base_2027q4_fcf:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_fcf:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_fcf:base/value | None | -303.635625 |
| /operating_model/cells/base_2027q4_gross_contribution:base/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/base_2027q4_gross_contribution:base/case | None | base |
| /operating_model/cells/base_2027q4_gross_contribution:base/formula/op | None | sum |
| /operating_model/cells/base_2027q4_gross_contribution:base/formula/refs/0 | None | base_2027q4_legacy_gross |
| /operating_model/cells/base_2027q4_gross_contribution:base/formula/refs/1 | None | base_2027q4_mine_gross |
| /operating_model/cells/base_2027q4_gross_contribution:base/formula/refs/2 | None | base_2027q4_magnet_gross |
| /operating_model/cells/base_2027q4_gross_contribution:base/id | None | base_2027q4_gross_contribution |
| /operating_model/cells/base_2027q4_gross_contribution:base/kind | None | derived |
| /operating_model/cells/base_2027q4_gross_contribution:base/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/base_2027q4_gross_contribution:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_gross_contribution:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_gross_contribution:base/value | None | 11.129999999999999 |
| /operating_model/cells/base_2027q4_interest_fraction:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_interest_fraction:base/case | None | base |
| /operating_model/cells/base_2027q4_interest_fraction:base/id | None | base_2027q4_interest_fraction |
| /operating_model/cells/base_2027q4_interest_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_interest_fraction:base/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/base_2027q4_interest_fraction:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_interest_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q4_interest_fraction:base/value | None | 0.25 |
| /operating_model/cells/base_2027q4_legacy_gross:base/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/base_2027q4_legacy_gross:base/case | None | base |
| /operating_model/cells/base_2027q4_legacy_gross:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q4_legacy_gross:base/formula/refs/0 | None | base_2027q4_legacy_revenue |
| /operating_model/cells/base_2027q4_legacy_gross:base/formula/refs/1 | None | base_2027q4_legacy_margin |
| /operating_model/cells/base_2027q4_legacy_gross:base/id | None | base_2027q4_legacy_gross |
| /operating_model/cells/base_2027q4_legacy_gross:base/kind | None | derived |
| /operating_model/cells/base_2027q4_legacy_gross:base/label | None | Legacy cash gross contribution |
| /operating_model/cells/base_2027q4_legacy_gross:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_legacy_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_legacy_gross:base/value | None | 2.88 |
| /operating_model/cells/base_2027q4_legacy_margin:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_legacy_margin:base/case | None | base |
| /operating_model/cells/base_2027q4_legacy_margin:base/id | None | base_2027q4_legacy_margin |
| /operating_model/cells/base_2027q4_legacy_margin:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_legacy_margin:base/label | None | Legacy margin before D&A |
| /operating_model/cells/base_2027q4_legacy_margin:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_legacy_margin:base/unit | None | ratio |
| /operating_model/cells/base_2027q4_legacy_margin:base/value | None | 0.18 |
| /operating_model/cells/base_2027q4_legacy_revenue:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_legacy_revenue:base/case | None | base |
| /operating_model/cells/base_2027q4_legacy_revenue:base/id | None | base_2027q4_legacy_revenue |
| /operating_model/cells/base_2027q4_legacy_revenue:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_legacy_revenue:base/label | None | Legacy alloy and services revenue |
| /operating_model/cells/base_2027q4_legacy_revenue:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_legacy_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_legacy_revenue:base/value | None | 16.0 |
| /operating_model/cells/base_2027q4_magnet_gross:base/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/base_2027q4_magnet_gross:base/case | None | base |
| /operating_model/cells/base_2027q4_magnet_gross:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q4_magnet_gross:base/formula/refs/0 | None | base_2027q4_magnet_revenue |
| /operating_model/cells/base_2027q4_magnet_gross:base/formula/refs/1 | None | base_2027q4_magnet_margin |
| /operating_model/cells/base_2027q4_magnet_gross:base/id | None | base_2027q4_magnet_gross |
| /operating_model/cells/base_2027q4_magnet_gross:base/kind | None | derived |
| /operating_model/cells/base_2027q4_magnet_gross:base/label | None | Magnet ramp cash contribution |
| /operating_model/cells/base_2027q4_magnet_gross:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_magnet_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_magnet_gross:base/value | None | -0.7500000000000007 |
| /operating_model/cells/base_2027q4_magnet_margin:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_magnet_margin:base/case | None | base |
| /operating_model/cells/base_2027q4_magnet_margin:base/id | None | base_2027q4_magnet_margin |
| /operating_model/cells/base_2027q4_magnet_margin:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_magnet_margin:base/label | None | Magnet cash gross margin |
| /operating_model/cells/base_2027q4_magnet_margin:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_magnet_margin:base/unit | None | ratio |
| /operating_model/cells/base_2027q4_magnet_margin:base/value | None | -0.050000000000000044 |
| /operating_model/cells/base_2027q4_magnet_price:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_magnet_price:base/case | None | base |
| /operating_model/cells/base_2027q4_magnet_price:base/id | None | base_2027q4_magnet_price |
| /operating_model/cells/base_2027q4_magnet_price:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_magnet_price:base/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/base_2027q4_magnet_price:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_magnet_price:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_magnet_price:base/value | None | 0.06 |
| /operating_model/cells/base_2027q4_magnet_revenue:base/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/base_2027q4_magnet_revenue:base/case | None | base |
| /operating_model/cells/base_2027q4_magnet_revenue:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q4_magnet_revenue:base/formula/refs/0 | None | base_2027q4_magnet_tonnes |
| /operating_model/cells/base_2027q4_magnet_revenue:base/formula/refs/1 | None | base_2027q4_magnet_price |
| /operating_model/cells/base_2027q4_magnet_revenue:base/id | None | base_2027q4_magnet_revenue |
| /operating_model/cells/base_2027q4_magnet_revenue:base/kind | None | derived |
| /operating_model/cells/base_2027q4_magnet_revenue:base/label | None | Accepted magnet sales |
| /operating_model/cells/base_2027q4_magnet_revenue:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_magnet_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_magnet_revenue:base/value | None | 15.0 |
| /operating_model/cells/base_2027q4_magnet_tonnes:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_magnet_tonnes:base/case | None | base |
| /operating_model/cells/base_2027q4_magnet_tonnes:base/id | None | base_2027q4_magnet_tonnes |
| /operating_model/cells/base_2027q4_magnet_tonnes:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_magnet_tonnes:base/label | None | Accepted external magnet tonnes |
| /operating_model/cells/base_2027q4_magnet_tonnes:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_magnet_tonnes:base/unit | None | ratio |
| /operating_model/cells/base_2027q4_magnet_tonnes:base/value | None | 250.0 |
| /operating_model/cells/base_2027q4_mine_cash_cost:base/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/base_2027q4_mine_cash_cost:base/case | None | base |
| /operating_model/cells/base_2027q4_mine_cash_cost:base/formula/op | None | sum |
| /operating_model/cells/base_2027q4_mine_cash_cost:base/formula/refs/0 | None | base_2027q4_mine_variable_cost |
| /operating_model/cells/base_2027q4_mine_cash_cost:base/formula/refs/1 | None | base_2027q4_mine_fixed_cost |
| /operating_model/cells/base_2027q4_mine_cash_cost:base/id | None | base_2027q4_mine_cash_cost |
| /operating_model/cells/base_2027q4_mine_cash_cost:base/kind | None | derived |
| /operating_model/cells/base_2027q4_mine_cash_cost:base/label | None | Mine cash production cost |
| /operating_model/cells/base_2027q4_mine_cash_cost:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_mine_cash_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_mine_cash_cost:base/value | None | 28.5 |
| /operating_model/cells/base_2027q4_mine_fixed_cost:base/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/base_2027q4_mine_fixed_cost:base/case | None | base |
| /operating_model/cells/base_2027q4_mine_fixed_cost:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q4_mine_fixed_cost:base/formula/refs/0 | None | base_2027q4_mine_fixed_full |
| /operating_model/cells/base_2027q4_mine_fixed_cost:base/formula/refs/1 | None | base_2027q4_ownership_fraction |
| /operating_model/cells/base_2027q4_mine_fixed_cost:base/id | None | base_2027q4_mine_fixed_cost |
| /operating_model/cells/base_2027q4_mine_fixed_cost:base/kind | None | derived |
| /operating_model/cells/base_2027q4_mine_fixed_cost:base/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/base_2027q4_mine_fixed_cost:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_mine_fixed_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_mine_fixed_cost:base/value | None | 11.0 |
| /operating_model/cells/base_2027q4_mine_fixed_full:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_mine_fixed_full:base/case | None | base |
| /operating_model/cells/base_2027q4_mine_fixed_full:base/id | None | base_2027q4_mine_fixed_full |
| /operating_model/cells/base_2027q4_mine_fixed_full:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_mine_fixed_full:base/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/base_2027q4_mine_fixed_full:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_mine_fixed_full:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_mine_fixed_full:base/value | None | 11.0 |
| /operating_model/cells/base_2027q4_mine_gross:base/basis | None | Royalty below contribution. |
| /operating_model/cells/base_2027q4_mine_gross:base/case | None | base |
| /operating_model/cells/base_2027q4_mine_gross:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q4_mine_gross:base/formula/refs/0 | None | base_2027q4_mine_revenue |
| /operating_model/cells/base_2027q4_mine_gross:base/formula/refs/1 | None | base_2027q4_mine_cash_cost |
| /operating_model/cells/base_2027q4_mine_gross:base/id | None | base_2027q4_mine_gross |
| /operating_model/cells/base_2027q4_mine_gross:base/kind | None | derived |
| /operating_model/cells/base_2027q4_mine_gross:base/label | None | Mine revenue less cash production |
| /operating_model/cells/base_2027q4_mine_gross:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_mine_gross:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_mine_gross:base/value | None | 9.0 |
| /operating_model/cells/base_2027q4_mine_revenue:base/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/base_2027q4_mine_revenue:base/case | None | base |
| /operating_model/cells/base_2027q4_mine_revenue:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q4_mine_revenue:base/formula/refs/0 | None | base_2027q4_recognized_tonnes |
| /operating_model/cells/base_2027q4_mine_revenue:base/formula/refs/1 | None | base_2027q4_treo_price |
| /operating_model/cells/base_2027q4_mine_revenue:base/id | None | base_2027q4_mine_revenue |
| /operating_model/cells/base_2027q4_mine_revenue:base/kind | None | derived |
| /operating_model/cells/base_2027q4_mine_revenue:base/label | None | Post-close TREO revenue |
| /operating_model/cells/base_2027q4_mine_revenue:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_mine_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_mine_revenue:base/value | None | 37.5 |
| /operating_model/cells/base_2027q4_mine_unit_cost:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_mine_unit_cost:base/case | None | base |
| /operating_model/cells/base_2027q4_mine_unit_cost:base/id | None | base_2027q4_mine_unit_cost |
| /operating_model/cells/base_2027q4_mine_unit_cost:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_mine_unit_cost:base/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/base_2027q4_mine_unit_cost:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_mine_unit_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_mine_unit_cost:base/value | None | 0.014 |
| /operating_model/cells/base_2027q4_mine_utilization:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_mine_utilization:base/case | None | base |
| /operating_model/cells/base_2027q4_mine_utilization:base/id | None | base_2027q4_mine_utilization |
| /operating_model/cells/base_2027q4_mine_utilization:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_mine_utilization:base/label | None | Capacity to recognized sales factor |
| /operating_model/cells/base_2027q4_mine_utilization:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_mine_utilization:base/unit | None | ratio |
| /operating_model/cells/base_2027q4_mine_utilization:base/value | None | 0.78125 |
| /operating_model/cells/base_2027q4_mine_variable_cost:base/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/base_2027q4_mine_variable_cost:base/case | None | base |
| /operating_model/cells/base_2027q4_mine_variable_cost:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q4_mine_variable_cost:base/formula/refs/0 | None | base_2027q4_recognized_tonnes |
| /operating_model/cells/base_2027q4_mine_variable_cost:base/formula/refs/1 | None | base_2027q4_mine_unit_cost |
| /operating_model/cells/base_2027q4_mine_variable_cost:base/id | None | base_2027q4_mine_variable_cost |
| /operating_model/cells/base_2027q4_mine_variable_cost:base/kind | None | derived |
| /operating_model/cells/base_2027q4_mine_variable_cost:base/label | None | Variable mine cash cost |
| /operating_model/cells/base_2027q4_mine_variable_cost:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_mine_variable_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_mine_variable_cost:base/value | None | 17.5 |
| /operating_model/cells/base_2027q4_minority_investment:base/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/base_2027q4_minority_investment:base/case | None | base |
| /operating_model/cells/base_2027q4_minority_investment:base/id | None | base_2027q4_minority_investment |
| /operating_model/cells/base_2027q4_minority_investment:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_minority_investment:base/label | None | Carester minority investment cash |
| /operating_model/cells/base_2027q4_minority_investment:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_minority_investment:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_minority_investment:base/value | None | 0.0 |
| /operating_model/cells/base_2027q4_new_acquisition:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_new_acquisition:base/case | None | base |
| /operating_model/cells/base_2027q4_new_acquisition:base/id | None | base_2027q4_new_acquisition |
| /operating_model/cells/base_2027q4_new_acquisition:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_new_acquisition:base/label | None | Other acquisition purchase cash |
| /operating_model/cells/base_2027q4_new_acquisition:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_new_acquisition:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_new_acquisition:base/value | None | 0.0 |
| /operating_model/cells/base_2027q4_operating_cash_uses:base/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/base_2027q4_operating_cash_uses:base/case | None | base |
| /operating_model/cells/base_2027q4_operating_cash_uses:base/formula/op | None | sum |
| /operating_model/cells/base_2027q4_operating_cash_uses:base/formula/refs/0 | None | base_2027q4_dfc_interest |
| /operating_model/cells/base_2027q4_operating_cash_uses:base/formula/refs/1 | None | base_2027q4_cash_tax |
| /operating_model/cells/base_2027q4_operating_cash_uses:base/formula/refs/2 | None | base_2027q4_working_capital |
| /operating_model/cells/base_2027q4_operating_cash_uses:base/id | None | base_2027q4_operating_cash_uses |
| /operating_model/cells/base_2027q4_operating_cash_uses:base/kind | None | derived |
| /operating_model/cells/base_2027q4_operating_cash_uses:base/label | None | Interest tax and working-capital use |
| /operating_model/cells/base_2027q4_operating_cash_uses:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_operating_cash_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_operating_cash_uses:base/value | None | 46.796875 |
| /operating_model/cells/base_2027q4_operating_costs:base/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/base_2027q4_operating_costs:base/case | None | base |
| /operating_model/cells/base_2027q4_operating_costs:base/formula/op | None | sum |
| /operating_model/cells/base_2027q4_operating_costs:base/formula/refs/0 | None | base_2027q4_cash_overhead |
| /operating_model/cells/base_2027q4_operating_costs:base/formula/refs/1 | None | base_2027q4_royalty_cash |
| /operating_model/cells/base_2027q4_operating_costs:base/formula/refs/2 | None | base_2027q4_da |
| /operating_model/cells/base_2027q4_operating_costs:base/formula/refs/3 | None | base_2027q4_sbc |
| /operating_model/cells/base_2027q4_operating_costs:base/formula/refs/4 | None | base_2027q4_transaction_cost |
| /operating_model/cells/base_2027q4_operating_costs:base/id | None | base_2027q4_operating_costs |
| /operating_model/cells/base_2027q4_operating_costs:base/kind | None | derived |
| /operating_model/cells/base_2027q4_operating_costs:base/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/base_2027q4_operating_costs:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_operating_costs:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_operating_costs:base/value | None | 94.96875 |
| /operating_model/cells/base_2027q4_operating_income:base/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/base_2027q4_operating_income:base/case | None | base |
| /operating_model/cells/base_2027q4_operating_income:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q4_operating_income:base/formula/refs/0 | None | base_2027q4_gross_contribution |
| /operating_model/cells/base_2027q4_operating_income:base/formula/refs/1 | None | base_2027q4_operating_costs |
| /operating_model/cells/base_2027q4_operating_income:base/id | None | base_2027q4_operating_income |
| /operating_model/cells/base_2027q4_operating_income:base/kind | None | derived |
| /operating_model/cells/base_2027q4_operating_income:base/label | None | Operating income proxy |
| /operating_model/cells/base_2027q4_operating_income:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_operating_income:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_operating_income:base/value | None | -83.83875 |
| /operating_model/cells/base_2027q4_other_investing:base/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/base_2027q4_other_investing:base/case | None | base |
| /operating_model/cells/base_2027q4_other_investing:base/formula/op | None | sum |
| /operating_model/cells/base_2027q4_other_investing:base/formula/refs/0 | None | base_2027q4_acquisition_cash |
| /operating_model/cells/base_2027q4_other_investing:base/formula/refs/1 | None | base_2027q4_minority_investment |
| /operating_model/cells/base_2027q4_other_investing:base/id | None | base_2027q4_other_investing |
| /operating_model/cells/base_2027q4_other_investing:base/kind | None | derived |
| /operating_model/cells/base_2027q4_other_investing:base/label | None | Acquisition and minority cash |
| /operating_model/cells/base_2027q4_other_investing:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_other_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_other_investing:base/value | None | 0.0 |
| /operating_model/cells/base_2027q4_ownership_fraction:base/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/base_2027q4_ownership_fraction:base/case | None | base |
| /operating_model/cells/base_2027q4_ownership_fraction:base/id | None | base_2027q4_ownership_fraction |
| /operating_model/cells/base_2027q4_ownership_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_ownership_fraction:base/label | None | Consolidated fraction of quarter |
| /operating_model/cells/base_2027q4_ownership_fraction:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_ownership_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q4_ownership_fraction:base/value | None | 1.0 |
| /operating_model/cells/base_2027q4_quarter_fraction:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_quarter_fraction:base/case | None | base |
| /operating_model/cells/base_2027q4_quarter_fraction:base/id | None | base_2027q4_quarter_fraction |
| /operating_model/cells/base_2027q4_quarter_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_quarter_fraction:base/label | None | Annual-to-quarter fraction |
| /operating_model/cells/base_2027q4_quarter_fraction:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_quarter_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q4_quarter_fraction:base/value | None | 0.25 |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/case | None | base |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/formula/refs/0 | None | base_2027q4_average_capacity |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/formula/refs/1 | None | base_2027q4_quarter_fraction |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/formula/refs/2 | None | base_2027q4_mine_utilization |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/formula/refs/3 | None | base_2027q4_ownership_fraction |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/id | None | base_2027q4_recognized_tonnes |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/kind | None | derived |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/unit | None | ratio |
| /operating_model/cells/base_2027q4_recognized_tonnes:base/value | None | 1250.0 |
| /operating_model/cells/base_2027q4_revenue:base/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/base_2027q4_revenue:base/case | None | base |
| /operating_model/cells/base_2027q4_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_2027q4_revenue:base/formula/refs/0 | None | base_2027q4_legacy_revenue |
| /operating_model/cells/base_2027q4_revenue:base/formula/refs/1 | None | base_2027q4_mine_revenue |
| /operating_model/cells/base_2027q4_revenue:base/formula/refs/2 | None | base_2027q4_magnet_revenue |
| /operating_model/cells/base_2027q4_revenue:base/id | None | base_2027q4_revenue |
| /operating_model/cells/base_2027q4_revenue:base/kind | None | derived |
| /operating_model/cells/base_2027q4_revenue:base/label | None | Consolidated revenue |
| /operating_model/cells/base_2027q4_revenue:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_revenue:base/value | None | 68.5 |
| /operating_model/cells/base_2027q4_royalty_cash:base/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/base_2027q4_royalty_cash:base/case | None | base |
| /operating_model/cells/base_2027q4_royalty_cash:base/formula/op | None | sum |
| /operating_model/cells/base_2027q4_royalty_cash:base/formula/refs/0 | None | base_2027q4_royalty_variable |
| /operating_model/cells/base_2027q4_royalty_cash:base/formula/refs/1 | None | base_2027q4_royalty_topup |
| /operating_model/cells/base_2027q4_royalty_cash:base/id | None | base_2027q4_royalty_cash |
| /operating_model/cells/base_2027q4_royalty_cash:base/kind | None | derived |
| /operating_model/cells/base_2027q4_royalty_cash:base/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/base_2027q4_royalty_cash:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_royalty_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_royalty_cash:base/value | None | 6.96875 |
| /operating_model/cells/base_2027q4_royalty_topup:base/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/base_2027q4_royalty_topup:base/case | None | base |
| /operating_model/cells/base_2027q4_royalty_topup:base/id | None | base_2027q4_royalty_topup |
| /operating_model/cells/base_2027q4_royalty_topup:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_royalty_topup:base/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/base_2027q4_royalty_topup:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_royalty_topup:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_royalty_topup:base/value | None | 5.0 |
| /operating_model/cells/base_2027q4_royalty_variable:base/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/base_2027q4_royalty_variable:base/case | None | base |
| /operating_model/cells/base_2027q4_royalty_variable:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q4_royalty_variable:base/formula/refs/0 | None | base_2027q4_mine_revenue |
| /operating_model/cells/base_2027q4_royalty_variable:base/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/base_2027q4_royalty_variable:base/id | None | base_2027q4_royalty_variable |
| /operating_model/cells/base_2027q4_royalty_variable:base/kind | None | derived |
| /operating_model/cells/base_2027q4_royalty_variable:base/label | None | Variable mine royalty |
| /operating_model/cells/base_2027q4_royalty_variable:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_royalty_variable:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_royalty_variable:base/value | None | 1.96875 |
| /operating_model/cells/base_2027q4_sbc:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_sbc:base/case | None | base |
| /operating_model/cells/base_2027q4_sbc:base/id | None | base_2027q4_sbc |
| /operating_model/cells/base_2027q4_sbc:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_sbc:base/label | None | Operating SBC |
| /operating_model/cells/base_2027q4_sbc:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_sbc:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_sbc:base/value | None | 13.0 |
| /operating_model/cells/base_2027q4_transaction_cost:base/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/base_2027q4_transaction_cost:base/case | None | base |
| /operating_model/cells/base_2027q4_transaction_cost:base/id | None | base_2027q4_transaction_cost |
| /operating_model/cells/base_2027q4_transaction_cost:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_transaction_cost:base/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/base_2027q4_transaction_cost:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_transaction_cost:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_transaction_cost:base/value | None | 0.0 |
| /operating_model/cells/base_2027q4_treasury_income:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_treasury_income:base/case | None | base |
| /operating_model/cells/base_2027q4_treasury_income:base/id | None | base_2027q4_treasury_income |
| /operating_model/cells/base_2027q4_treasury_income:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_treasury_income:base/label | None | Cash treasury income |
| /operating_model/cells/base_2027q4_treasury_income:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_treasury_income:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_treasury_income:base/value | None | 4.0 |
| /operating_model/cells/base_2027q4_treo_price:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_treo_price:base/case | None | base |
| /operating_model/cells/base_2027q4_treo_price:base/id | None | base_2027q4_treo_price |
| /operating_model/cells/base_2027q4_treo_price:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_treo_price:base/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/base_2027q4_treo_price:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_treo_price:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_treo_price:base/value | None | 0.03 |
| /operating_model/cells/base_2027q4_working_capital:base/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/base_2027q4_working_capital:base/case | None | base |
| /operating_model/cells/base_2027q4_working_capital:base/id | None | base_2027q4_working_capital |
| /operating_model/cells/base_2027q4_working_capital:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_working_capital:base/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/base_2027q4_working_capital:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_working_capital:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_working_capital:base/value | None | 40.0 |
| /operating_model/cells/base_fy2026_acquisition_cash:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2026_acquisition_cash:base/case | None | base |
| /operating_model/cells/base_fy2026_acquisition_cash:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_acquisition_cash:base/formula/refs/0 | None | h1_acquisition_cash |
| /operating_model/cells/base_fy2026_acquisition_cash:base/formula/refs/1 | None | base_2026q3_acquisition_cash |
| /operating_model/cells/base_fy2026_acquisition_cash:base/formula/refs/2 | None | base_2026q4_acquisition_cash |
| /operating_model/cells/base_fy2026_acquisition_cash:base/id | None | base_fy2026_acquisition_cash |
| /operating_model/cells/base_fy2026_acquisition_cash:base/kind | None | derived |
| /operating_model/cells/base_fy2026_acquisition_cash:base/label | None | Net acquisition cash ($M) |
| /operating_model/cells/base_fy2026_acquisition_cash:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_acquisition_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_acquisition_cash:base/value | None | 160.0 |
| /operating_model/cells/base_fy2026_capex:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2026_capex:base/case | None | base |
| /operating_model/cells/base_fy2026_capex:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_capex:base/formula/refs/0 | None | h1_capex |
| /operating_model/cells/base_fy2026_capex:base/formula/refs/1 | None | base_2026q3_capex |
| /operating_model/cells/base_fy2026_capex:base/formula/refs/2 | None | base_2026q4_capex |
| /operating_model/cells/base_fy2026_capex:base/id | None | base_fy2026_capex |
| /operating_model/cells/base_fy2026_capex:base/kind | None | derived |
| /operating_model/cells/base_fy2026_capex:base/label | None | Cash capex and equipment deposits ($M) |
| /operating_model/cells/base_fy2026_capex:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_capex:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_capex:base/value | None | 338.38800000000003 |
| /operating_model/cells/base_fy2026_cash_after_investing:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2026_cash_after_investing:base/case | None | base |
| /operating_model/cells/base_fy2026_cash_after_investing:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_cash_after_investing:base/formula/refs/0 | None | h1_cash_after_investing |
| /operating_model/cells/base_fy2026_cash_after_investing:base/formula/refs/1 | None | base_2026q3_cash_after_investing |
| /operating_model/cells/base_fy2026_cash_after_investing:base/formula/refs/2 | None | base_2026q4_cash_after_investing |
| /operating_model/cells/base_fy2026_cash_after_investing:base/id | None | base_fy2026_cash_after_investing |
| /operating_model/cells/base_fy2026_cash_after_investing:base/kind | None | derived |
| /operating_model/cells/base_fy2026_cash_after_investing:base/label | None | Cash after business investing ($M) |
| /operating_model/cells/base_fy2026_cash_after_investing:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_cash_after_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_cash_after_investing:base/value | None | -823.9705 |
| /operating_model/cells/base_fy2026_cfo:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2026_cfo:base/case | None | base |
| /operating_model/cells/base_fy2026_cfo:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_cfo:base/formula/refs/0 | None | h1_cfo |
| /operating_model/cells/base_fy2026_cfo:base/formula/refs/1 | None | base_2026q3_cfo |
| /operating_model/cells/base_fy2026_cfo:base/formula/refs/2 | None | base_2026q4_cfo |
| /operating_model/cells/base_fy2026_cfo:base/id | None | base_fy2026_cfo |
| /operating_model/cells/base_fy2026_cfo:base/kind | None | derived |
| /operating_model/cells/base_fy2026_cfo:base/label | None | Operating cash flow proxy ($M) |
| /operating_model/cells/base_fy2026_cfo:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_cfo:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_cfo:base/value | None | -293.1825 |
| /operating_model/cells/base_fy2026_fcf:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2026_fcf:base/case | None | base |
| /operating_model/cells/base_fy2026_fcf:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_fcf:base/formula/refs/0 | None | h1_fcf |
| /operating_model/cells/base_fy2026_fcf:base/formula/refs/1 | None | base_2026q3_fcf |
| /operating_model/cells/base_fy2026_fcf:base/formula/refs/2 | None | base_2026q4_fcf |
| /operating_model/cells/base_fy2026_fcf:base/id | None | base_fy2026_fcf |
| /operating_model/cells/base_fy2026_fcf:base/kind | None | derived |
| /operating_model/cells/base_fy2026_fcf:base/label | None | CFO less capex ($M) |
| /operating_model/cells/base_fy2026_fcf:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_fcf:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_fcf:base/value | None | -631.5705 |
| /operating_model/cells/base_fy2026_gross_contribution:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2026_gross_contribution:base/case | None | base |
| /operating_model/cells/base_fy2026_gross_contribution:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_gross_contribution:base/formula/refs/0 | None | h1_gross_contribution |
| /operating_model/cells/base_fy2026_gross_contribution:base/formula/refs/1 | None | base_2026q3_gross_contribution |
| /operating_model/cells/base_fy2026_gross_contribution:base/formula/refs/2 | None | base_2026q4_gross_contribution |
| /operating_model/cells/base_fy2026_gross_contribution:base/id | None | base_fy2026_gross_contribution |
| /operating_model/cells/base_fy2026_gross_contribution:base/kind | None | derived |
| /operating_model/cells/base_fy2026_gross_contribution:base/label | None | Gross contribution before D&A ($M) |
| /operating_model/cells/base_fy2026_gross_contribution:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_gross_contribution:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_gross_contribution:base/value | None | -2.2896666666666663 |
| /operating_model/cells/base_fy2026_legacy_revenue:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2026_legacy_revenue:base/case | None | base |
| /operating_model/cells/base_fy2026_legacy_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_legacy_revenue:base/formula/refs/0 | None | h1_legacy_revenue |
| /operating_model/cells/base_fy2026_legacy_revenue:base/formula/refs/1 | None | base_2026q3_legacy_revenue |
| /operating_model/cells/base_fy2026_legacy_revenue:base/formula/refs/2 | None | base_2026q4_legacy_revenue |
| /operating_model/cells/base_fy2026_legacy_revenue:base/id | None | base_fy2026_legacy_revenue |
| /operating_model/cells/base_fy2026_legacy_revenue:base/kind | None | derived |
| /operating_model/cells/base_fy2026_legacy_revenue:base/label | None | Legacy alloy and service revenue ($M) |
| /operating_model/cells/base_fy2026_legacy_revenue:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_legacy_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_legacy_revenue:base/value | None | 26.019 |
| /operating_model/cells/base_fy2026_magnet_revenue:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2026_magnet_revenue:base/case | None | base |
| /operating_model/cells/base_fy2026_magnet_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_magnet_revenue:base/formula/refs/0 | None | h1_magnet_revenue |
| /operating_model/cells/base_fy2026_magnet_revenue:base/formula/refs/1 | None | base_2026q3_magnet_revenue |
| /operating_model/cells/base_fy2026_magnet_revenue:base/formula/refs/2 | None | base_2026q4_magnet_revenue |
| /operating_model/cells/base_fy2026_magnet_revenue:base/id | None | base_fy2026_magnet_revenue |
| /operating_model/cells/base_fy2026_magnet_revenue:base/kind | None | derived |
| /operating_model/cells/base_fy2026_magnet_revenue:base/label | None | Accepted magnet sales ($M) |
| /operating_model/cells/base_fy2026_magnet_revenue:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_magnet_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_magnet_revenue:base/value | None | 1.8 |
| /operating_model/cells/base_fy2026_mine_revenue:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2026_mine_revenue:base/case | None | base |
| /operating_model/cells/base_fy2026_mine_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_mine_revenue:base/formula/refs/0 | None | h1_mine_revenue |
| /operating_model/cells/base_fy2026_mine_revenue:base/formula/refs/1 | None | base_2026q3_mine_revenue |
| /operating_model/cells/base_fy2026_mine_revenue:base/formula/refs/2 | None | base_2026q4_mine_revenue |
| /operating_model/cells/base_fy2026_mine_revenue:base/id | None | base_fy2026_mine_revenue |
| /operating_model/cells/base_fy2026_mine_revenue:base/kind | None | derived |
| /operating_model/cells/base_fy2026_mine_revenue:base/label | None | Post-close mine revenue ($M) |
| /operating_model/cells/base_fy2026_mine_revenue:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_mine_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_mine_revenue:base/value | None | 20.4 |
| /operating_model/cells/base_fy2026_minority_investment:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2026_minority_investment:base/case | None | base |
| /operating_model/cells/base_fy2026_minority_investment:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_minority_investment:base/formula/refs/0 | None | h1_minority_investment |
| /operating_model/cells/base_fy2026_minority_investment:base/formula/refs/1 | None | base_2026q3_minority_investment |
| /operating_model/cells/base_fy2026_minority_investment:base/formula/refs/2 | None | base_2026q4_minority_investment |
| /operating_model/cells/base_fy2026_minority_investment:base/id | None | base_fy2026_minority_investment |
| /operating_model/cells/base_fy2026_minority_investment:base/kind | None | derived |
| /operating_model/cells/base_fy2026_minority_investment:base/label | None | Minority investment cash ($M) |
| /operating_model/cells/base_fy2026_minority_investment:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_minority_investment:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_minority_investment:base/value | None | 32.4 |
| /operating_model/cells/base_fy2026_operating_income:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2026_operating_income:base/case | None | base |
| /operating_model/cells/base_fy2026_operating_income:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_operating_income:base/formula/refs/0 | None | h1_operating_income |
| /operating_model/cells/base_fy2026_operating_income:base/formula/refs/1 | None | base_2026q3_operating_income |
| /operating_model/cells/base_fy2026_operating_income:base/formula/refs/2 | None | base_2026q4_operating_income |
| /operating_model/cells/base_fy2026_operating_income:base/id | None | base_fy2026_operating_income |
| /operating_model/cells/base_fy2026_operating_income:base/kind | None | derived |
| /operating_model/cells/base_fy2026_operating_income:base/label | None | Operating income proxy ($M) |
| /operating_model/cells/base_fy2026_operating_income:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_operating_income:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_operating_income:base/value | None | -306.4516666666667 |
| /operating_model/cells/base_fy2026_revenue:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2026_revenue:base/case | None | base |
| /operating_model/cells/base_fy2026_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_revenue:base/formula/refs/0 | None | h1_revenue |
| /operating_model/cells/base_fy2026_revenue:base/formula/refs/1 | None | base_2026q3_revenue |
| /operating_model/cells/base_fy2026_revenue:base/formula/refs/2 | None | base_2026q4_revenue |
| /operating_model/cells/base_fy2026_revenue:base/id | None | base_fy2026_revenue |
| /operating_model/cells/base_fy2026_revenue:base/kind | None | derived |
| /operating_model/cells/base_fy2026_revenue:base/label | None | Consolidated revenue ($M) |
| /operating_model/cells/base_fy2026_revenue:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_revenue:base/value | None | 48.219 |
| /operating_model/cells/base_fy2027_acquisition_cash:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2027_acquisition_cash:base/case | None | base |
| /operating_model/cells/base_fy2027_acquisition_cash:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_acquisition_cash:base/formula/refs/0 | None | base_2027q1_acquisition_cash |
| /operating_model/cells/base_fy2027_acquisition_cash:base/formula/refs/1 | None | base_2027q2_acquisition_cash |
| /operating_model/cells/base_fy2027_acquisition_cash:base/formula/refs/2 | None | base_2027q3_acquisition_cash |
| /operating_model/cells/base_fy2027_acquisition_cash:base/formula/refs/3 | None | base_2027q4_acquisition_cash |
| /operating_model/cells/base_fy2027_acquisition_cash:base/id | None | base_fy2027_acquisition_cash |
| /operating_model/cells/base_fy2027_acquisition_cash:base/kind | None | derived |
| /operating_model/cells/base_fy2027_acquisition_cash:base/label | None | Net acquisition cash ($M) |
| /operating_model/cells/base_fy2027_acquisition_cash:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_acquisition_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_acquisition_cash:base/value | None | 0.0 |
| /operating_model/cells/base_fy2027_capex:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2027_capex:base/case | None | base |
| /operating_model/cells/base_fy2027_capex:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_capex:base/formula/refs/0 | None | base_2027q1_capex |
| /operating_model/cells/base_fy2027_capex:base/formula/refs/1 | None | base_2027q2_capex |
| /operating_model/cells/base_fy2027_capex:base/formula/refs/2 | None | base_2027q3_capex |
| /operating_model/cells/base_fy2027_capex:base/formula/refs/3 | None | base_2027q4_capex |
| /operating_model/cells/base_fy2027_capex:base/id | None | base_fy2027_capex |
| /operating_model/cells/base_fy2027_capex:base/kind | None | derived |
| /operating_model/cells/base_fy2027_capex:base/label | None | Cash capex and equipment deposits ($M) |
| /operating_model/cells/base_fy2027_capex:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_capex:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_capex:base/value | None | 720.0 |
| /operating_model/cells/base_fy2027_cash_after_investing:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2027_cash_after_investing:base/case | None | base |
| /operating_model/cells/base_fy2027_cash_after_investing:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_cash_after_investing:base/formula/refs/0 | None | base_2027q1_cash_after_investing |
| /operating_model/cells/base_fy2027_cash_after_investing:base/formula/refs/1 | None | base_2027q2_cash_after_investing |
| /operating_model/cells/base_fy2027_cash_after_investing:base/formula/refs/2 | None | base_2027q3_cash_after_investing |
| /operating_model/cells/base_fy2027_cash_after_investing:base/formula/refs/3 | None | base_2027q4_cash_after_investing |
| /operating_model/cells/base_fy2027_cash_after_investing:base/id | None | base_fy2027_cash_after_investing |
| /operating_model/cells/base_fy2027_cash_after_investing:base/kind | None | derived |
| /operating_model/cells/base_fy2027_cash_after_investing:base/label | None | Cash after business investing ($M) |
| /operating_model/cells/base_fy2027_cash_after_investing:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_cash_after_investing:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_cash_after_investing:base/value | None | -1056.3087500000001 |
| /operating_model/cells/base_fy2027_cfo:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2027_cfo:base/case | None | base |
| /operating_model/cells/base_fy2027_cfo:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_cfo:base/formula/refs/0 | None | base_2027q1_cfo |
| /operating_model/cells/base_fy2027_cfo:base/formula/refs/1 | None | base_2027q2_cfo |
| /operating_model/cells/base_fy2027_cfo:base/formula/refs/2 | None | base_2027q3_cfo |
| /operating_model/cells/base_fy2027_cfo:base/formula/refs/3 | None | base_2027q4_cfo |
| /operating_model/cells/base_fy2027_cfo:base/id | None | base_fy2027_cfo |
| /operating_model/cells/base_fy2027_cfo:base/kind | None | derived |
| /operating_model/cells/base_fy2027_cfo:base/label | None | Operating cash flow proxy ($M) |
| /operating_model/cells/base_fy2027_cfo:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_cfo:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_cfo:base/value | None | -336.30875000000003 |
| /operating_model/cells/base_fy2027_fcf:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2027_fcf:base/case | None | base |
| /operating_model/cells/base_fy2027_fcf:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_fcf:base/formula/refs/0 | None | base_2027q1_fcf |
| /operating_model/cells/base_fy2027_fcf:base/formula/refs/1 | None | base_2027q2_fcf |
| /operating_model/cells/base_fy2027_fcf:base/formula/refs/2 | None | base_2027q3_fcf |
| /operating_model/cells/base_fy2027_fcf:base/formula/refs/3 | None | base_2027q4_fcf |
| /operating_model/cells/base_fy2027_fcf:base/id | None | base_fy2027_fcf |
| /operating_model/cells/base_fy2027_fcf:base/kind | None | derived |
| /operating_model/cells/base_fy2027_fcf:base/label | None | CFO less capex ($M) |
| /operating_model/cells/base_fy2027_fcf:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_fcf:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_fcf:base/value | None | -1056.3087500000001 |
| /operating_model/cells/base_fy2027_gross_contribution:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2027_gross_contribution:base/case | None | base |
| /operating_model/cells/base_fy2027_gross_contribution:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_gross_contribution:base/formula/refs/0 | None | base_2027q1_gross_contribution |
| /operating_model/cells/base_fy2027_gross_contribution:base/formula/refs/1 | None | base_2027q2_gross_contribution |
| /operating_model/cells/base_fy2027_gross_contribution:base/formula/refs/2 | None | base_2027q3_gross_contribution |
| /operating_model/cells/base_fy2027_gross_contribution:base/formula/refs/3 | None | base_2027q4_gross_contribution |
| /operating_model/cells/base_fy2027_gross_contribution:base/id | None | base_fy2027_gross_contribution |
| /operating_model/cells/base_fy2027_gross_contribution:base/kind | None | derived |
| /operating_model/cells/base_fy2027_gross_contribution:base/label | None | Gross contribution before D&A ($M) |
| /operating_model/cells/base_fy2027_gross_contribution:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_gross_contribution:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_gross_contribution:base/value | None | 27.729999999999993 |
| /operating_model/cells/base_fy2027_legacy_revenue:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2027_legacy_revenue:base/case | None | base |
| /operating_model/cells/base_fy2027_legacy_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_legacy_revenue:base/formula/refs/0 | None | base_2027q1_legacy_revenue |
| /operating_model/cells/base_fy2027_legacy_revenue:base/formula/refs/1 | None | base_2027q2_legacy_revenue |
| /operating_model/cells/base_fy2027_legacy_revenue:base/formula/refs/2 | None | base_2027q3_legacy_revenue |
| /operating_model/cells/base_fy2027_legacy_revenue:base/formula/refs/3 | None | base_2027q4_legacy_revenue |
| /operating_model/cells/base_fy2027_legacy_revenue:base/id | None | base_fy2027_legacy_revenue |
| /operating_model/cells/base_fy2027_legacy_revenue:base/kind | None | derived |
| /operating_model/cells/base_fy2027_legacy_revenue:base/label | None | Legacy alloy and service revenue ($M) |
| /operating_model/cells/base_fy2027_legacy_revenue:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_legacy_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_legacy_revenue:base/value | None | 52.0 |
| /operating_model/cells/base_fy2027_magnet_revenue:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2027_magnet_revenue:base/case | None | base |
| /operating_model/cells/base_fy2027_magnet_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_magnet_revenue:base/formula/refs/0 | None | base_2027q1_magnet_revenue |
| /operating_model/cells/base_fy2027_magnet_revenue:base/formula/refs/1 | None | base_2027q2_magnet_revenue |
| /operating_model/cells/base_fy2027_magnet_revenue:base/formula/refs/2 | None | base_2027q3_magnet_revenue |
| /operating_model/cells/base_fy2027_magnet_revenue:base/formula/refs/3 | None | base_2027q4_magnet_revenue |
| /operating_model/cells/base_fy2027_magnet_revenue:base/id | None | base_fy2027_magnet_revenue |
| /operating_model/cells/base_fy2027_magnet_revenue:base/kind | None | derived |
| /operating_model/cells/base_fy2027_magnet_revenue:base/label | None | Accepted magnet sales ($M) |
| /operating_model/cells/base_fy2027_magnet_revenue:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_magnet_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_magnet_revenue:base/value | None | 36.599999999999994 |
| /operating_model/cells/base_fy2027_mine_revenue:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2027_mine_revenue:base/case | None | base |
| /operating_model/cells/base_fy2027_mine_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_mine_revenue:base/formula/refs/0 | None | base_2027q1_mine_revenue |
| /operating_model/cells/base_fy2027_mine_revenue:base/formula/refs/1 | None | base_2027q2_mine_revenue |
| /operating_model/cells/base_fy2027_mine_revenue:base/formula/refs/2 | None | base_2027q3_mine_revenue |
| /operating_model/cells/base_fy2027_mine_revenue:base/formula/refs/3 | None | base_2027q4_mine_revenue |
| /operating_model/cells/base_fy2027_mine_revenue:base/id | None | base_fy2027_mine_revenue |
| /operating_model/cells/base_fy2027_mine_revenue:base/kind | None | derived |
| /operating_model/cells/base_fy2027_mine_revenue:base/label | None | Post-close mine revenue ($M) |
| /operating_model/cells/base_fy2027_mine_revenue:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_mine_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_mine_revenue:base/value | None | 130.5 |
| /operating_model/cells/base_fy2027_minority_investment:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2027_minority_investment:base/case | None | base |
| /operating_model/cells/base_fy2027_minority_investment:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_minority_investment:base/formula/refs/0 | None | base_2027q1_minority_investment |
| /operating_model/cells/base_fy2027_minority_investment:base/formula/refs/1 | None | base_2027q2_minority_investment |
| /operating_model/cells/base_fy2027_minority_investment:base/formula/refs/2 | None | base_2027q3_minority_investment |
| /operating_model/cells/base_fy2027_minority_investment:base/formula/refs/3 | None | base_2027q4_minority_investment |
| /operating_model/cells/base_fy2027_minority_investment:base/id | None | base_fy2027_minority_investment |
| /operating_model/cells/base_fy2027_minority_investment:base/kind | None | derived |
| /operating_model/cells/base_fy2027_minority_investment:base/label | None | Minority investment cash ($M) |
| /operating_model/cells/base_fy2027_minority_investment:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_minority_investment:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_minority_investment:base/value | None | 0.0 |
| /operating_model/cells/base_fy2027_operating_income:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2027_operating_income:base/case | None | base |
| /operating_model/cells/base_fy2027_operating_income:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_operating_income:base/formula/refs/0 | None | base_2027q1_operating_income |
| /operating_model/cells/base_fy2027_operating_income:base/formula/refs/1 | None | base_2027q2_operating_income |
| /operating_model/cells/base_fy2027_operating_income:base/formula/refs/2 | None | base_2027q3_operating_income |
| /operating_model/cells/base_fy2027_operating_income:base/formula/refs/3 | None | base_2027q4_operating_income |
| /operating_model/cells/base_fy2027_operating_income:base/id | None | base_fy2027_operating_income |
| /operating_model/cells/base_fy2027_operating_income:base/kind | None | derived |
| /operating_model/cells/base_fy2027_operating_income:base/label | None | Operating income proxy ($M) |
| /operating_model/cells/base_fy2027_operating_income:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_operating_income:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_operating_income:base/value | None | -309.12125000000003 |
| /operating_model/cells/base_fy2027_revenue:base/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/base_fy2027_revenue:base/case | None | base |
| /operating_model/cells/base_fy2027_revenue:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_revenue:base/formula/refs/0 | None | base_2027q1_revenue |
| /operating_model/cells/base_fy2027_revenue:base/formula/refs/1 | None | base_2027q2_revenue |
| /operating_model/cells/base_fy2027_revenue:base/formula/refs/2 | None | base_2027q3_revenue |
| /operating_model/cells/base_fy2027_revenue:base/formula/refs/3 | None | base_2027q4_revenue |
| /operating_model/cells/base_fy2027_revenue:base/id | None | base_fy2027_revenue |
| /operating_model/cells/base_fy2027_revenue:base/kind | None | derived |
| /operating_model/cells/base_fy2027_revenue:base/label | None | Consolidated revenue ($M) |
| /operating_model/cells/base_fy2027_revenue:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_revenue:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_revenue:base/value | None | 219.10000000000002 |
| /operating_model/cells/cash:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/cash:shared/case | None | shared |
| /operating_model/cells/cash:shared/id | None | cash |
| /operating_model/cells/cash:shared/kind | None | reported |
| /operating_model/cells/cash:shared/label | None | cash |
| /operating_model/cells/cash:shared/period | None | H1 / June 2026 |
| /operating_model/cells/cash:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/cash:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/cash:shared/unit | None | USD_millions |
| /operating_model/cells/cash:shared/value | None | 1530.147 |
| /operating_model/cells/dfc_extinguished:shared/basis | None | Furnished pro forma historical or transaction adjustment; not an actual September closing balance. |
| /operating_model/cells/dfc_extinguished:shared/case | None | shared |
| /operating_model/cells/dfc_extinguished:shared/id | None | dfc_extinguished |
| /operating_model/cells/dfc_extinguished:shared/kind | None | reported |
| /operating_model/cells/dfc_extinguished:shared/label | None | dfc extinguished |
| /operating_model/cells/dfc_extinguished:shared/period | None | Pro forma / closing reference |
| /operating_model/cells/dfc_extinguished:shared/source_date | None | 2026-09-04 |
| /operating_model/cells/dfc_extinguished:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026097399/ea030400101ex99-3.htm |
| /operating_model/cells/dfc_extinguished:shared/unit | None | USD_millions |
| /operating_model/cells/dfc_extinguished:shared/value | None | 100.0 |
| /operating_model/cells/dfc_june_principal:shared/basis | None | Furnished pro forma historical or transaction adjustment; not an actual September closing balance. |
| /operating_model/cells/dfc_june_principal:shared/case | None | shared |
| /operating_model/cells/dfc_june_principal:shared/id | None | dfc_june_principal |
| /operating_model/cells/dfc_june_principal:shared/kind | None | reported |
| /operating_model/cells/dfc_june_principal:shared/label | None | dfc june principal |
| /operating_model/cells/dfc_june_principal:shared/period | None | Pro forma / closing reference |
| /operating_model/cells/dfc_june_principal:shared/source_date | None | 2026-09-04 |
| /operating_model/cells/dfc_june_principal:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026097399/ea030400101ex99-3.htm |
| /operating_model/cells/dfc_june_principal:shared/unit | None | USD_millions |
| /operating_model/cells/dfc_june_principal:shared/value | None | 425.0 |
| /operating_model/cells/dfc_remaining_reference:shared/basis | None | Excludes any other post-June draws or repayments; not a complete acquisition-date debt balance. |
| /operating_model/cells/dfc_remaining_reference:shared/case | None | shared |
| /operating_model/cells/dfc_remaining_reference:shared/formula/op | None | subtract |
| /operating_model/cells/dfc_remaining_reference:shared/formula/refs/0 | None | dfc_june_principal |
| /operating_model/cells/dfc_remaining_reference:shared/formula/refs/1 | None | dfc_extinguished |
| /operating_model/cells/dfc_remaining_reference:shared/id | None | dfc_remaining_reference |
| /operating_model/cells/dfc_remaining_reference:shared/kind | None | derived |
| /operating_model/cells/dfc_remaining_reference:shared/label | None | DFC initial principal after incremental extinguishment |
| /operating_model/cells/dfc_remaining_reference:shared/period | None | Closing reference |
| /operating_model/cells/dfc_remaining_reference:shared/unit | None | USD_millions |
| /operating_model/cells/dfc_remaining_reference:shared/value | None | 325.0 |
| /operating_model/cells/downside_2026q3_acquired_cash:downside/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/downside_2026q3_acquired_cash:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_acquired_cash:downside/id | None | downside_2026q3_acquired_cash |
| /operating_model/cells/downside_2026q3_acquired_cash:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_acquired_cash:downside/label | None | Cash acquired at closing |
| /operating_model/cells/downside_2026q3_acquired_cash:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_acquired_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_acquired_cash:downside/value | None | 130.0 |
| /operating_model/cells/downside_2026q3_acquisition_cash:downside/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/downside_2026q3_acquisition_cash:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_acquisition_cash:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q3_acquisition_cash:downside/formula/refs/0 | None | acquisition_gross_cash |
| /operating_model/cells/downside_2026q3_acquisition_cash:downside/formula/refs/1 | None | downside_2026q3_acquired_cash |
| /operating_model/cells/downside_2026q3_acquisition_cash:downside/id | None | downside_2026q3_acquisition_cash |
| /operating_model/cells/downside_2026q3_acquisition_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_acquisition_cash:downside/label | None | Net acquisition cash |
| /operating_model/cells/downside_2026q3_acquisition_cash:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_acquisition_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_acquisition_cash:downside/value | None | 170.0 |
| /operating_model/cells/downside_2026q3_average_capacity:downside/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/downside_2026q3_average_capacity:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_average_capacity:downside/id | None | downside_2026q3_average_capacity |
| /operating_model/cells/downside_2026q3_average_capacity:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_average_capacity:downside/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/downside_2026q3_average_capacity:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_average_capacity:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q3_average_capacity:downside/value | None | 2500.0 |
| /operating_model/cells/downside_2026q3_capex:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_capex:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_capex:downside/id | None | downside_2026q3_capex |
| /operating_model/cells/downside_2026q3_capex:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_capex:downside/label | None | Cash capex and equipment deposits |
| /operating_model/cells/downside_2026q3_capex:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_capex:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_capex:downside/value | None | 110.0 |
| /operating_model/cells/downside_2026q3_cash_after_investing:downside/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/downside_2026q3_cash_after_investing:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_cash_after_investing:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q3_cash_after_investing:downside/formula/refs/0 | None | downside_2026q3_fcf |
| /operating_model/cells/downside_2026q3_cash_after_investing:downside/formula/refs/1 | None | downside_2026q3_other_investing |
| /operating_model/cells/downside_2026q3_cash_after_investing:downside/id | None | downside_2026q3_cash_after_investing |
| /operating_model/cells/downside_2026q3_cash_after_investing:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_cash_after_investing:downside/label | None | Cash after business investing |
| /operating_model/cells/downside_2026q3_cash_after_investing:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_cash_after_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_cash_after_investing:downside/value | None | -423.9363020833333 |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/formula/refs/0 | None | downside_2026q3_operating_income |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/formula/refs/1 | None | downside_2026q3_da |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/formula/refs/2 | None | downside_2026q3_sbc |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/formula/refs/3 | None | downside_2026q3_treasury_income |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/id | None | downside_2026q3_cash_earnings |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_cash_earnings:downside/value | None | -125.99880208333332 |
| /operating_model/cells/downside_2026q3_cash_overhead:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_cash_overhead:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_cash_overhead:downside/id | None | downside_2026q3_cash_overhead |
| /operating_model/cells/downside_2026q3_cash_overhead:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_cash_overhead:downside/label | None | Cash SG&A and development |
| /operating_model/cells/downside_2026q3_cash_overhead:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_cash_overhead:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_cash_overhead:downside/value | None | 50.0 |
| /operating_model/cells/downside_2026q3_cash_tax:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_cash_tax:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_cash_tax:downside/id | None | downside_2026q3_cash_tax |
| /operating_model/cells/downside_2026q3_cash_tax:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_cash_tax:downside/label | None | Cash taxes |
| /operating_model/cells/downside_2026q3_cash_tax:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_cash_tax:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_cash_tax:downside/value | None | 0.5 |
| /operating_model/cells/downside_2026q3_cfo:downside/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/downside_2026q3_cfo:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_cfo:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q3_cfo:downside/formula/refs/0 | None | downside_2026q3_cash_earnings |
| /operating_model/cells/downside_2026q3_cfo:downside/formula/refs/1 | None | downside_2026q3_operating_cash_uses |
| /operating_model/cells/downside_2026q3_cfo:downside/id | None | downside_2026q3_cfo |
| /operating_model/cells/downside_2026q3_cfo:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_cfo:downside/label | None | Operating cash flow proxy |
| /operating_model/cells/downside_2026q3_cfo:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_cfo:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_cfo:downside/value | None | -143.93630208333332 |
| /operating_model/cells/downside_2026q3_da:downside/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/downside_2026q3_da:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_da:downside/id | None | downside_2026q3_da |
| /operating_model/cells/downside_2026q3_da:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_da:downside/label | None | Consolidated operating D&A |
| /operating_model/cells/downside_2026q3_da:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_da:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_da:downside/value | None | 5.0 |
| /operating_model/cells/downside_2026q3_dfc_interest:downside/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/downside_2026q3_dfc_interest:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_dfc_interest:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q3_dfc_interest:downside/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/downside_2026q3_dfc_interest:downside/formula/refs/1 | None | downside_2026q3_dfc_rate |
| /operating_model/cells/downside_2026q3_dfc_interest:downside/formula/refs/2 | None | downside_2026q3_interest_fraction |
| /operating_model/cells/downside_2026q3_dfc_interest:downside/id | None | downside_2026q3_dfc_interest |
| /operating_model/cells/downside_2026q3_dfc_interest:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_dfc_interest:downside/label | None | DFC cash coupon proxy |
| /operating_model/cells/downside_2026q3_dfc_interest:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_dfc_interest:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_dfc_interest:downside/value | None | 2.4375 |
| /operating_model/cells/downside_2026q3_dfc_rate:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_dfc_rate:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_dfc_rate:downside/id | None | downside_2026q3_dfc_rate |
| /operating_model/cells/downside_2026q3_dfc_rate:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_dfc_rate:downside/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/downside_2026q3_dfc_rate:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_dfc_rate:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q3_dfc_rate:downside/value | None | 0.09 |
| /operating_model/cells/downside_2026q3_fcf:downside/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/downside_2026q3_fcf:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_fcf:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q3_fcf:downside/formula/refs/0 | None | downside_2026q3_cfo |
| /operating_model/cells/downside_2026q3_fcf:downside/formula/refs/1 | None | downside_2026q3_capex |
| /operating_model/cells/downside_2026q3_fcf:downside/id | None | downside_2026q3_fcf |
| /operating_model/cells/downside_2026q3_fcf:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_fcf:downside/label | None | CFO less cash capital investment |
| /operating_model/cells/downside_2026q3_fcf:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_fcf:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_fcf:downside/value | None | -253.93630208333332 |
| /operating_model/cells/downside_2026q3_gross_contribution:downside/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/downside_2026q3_gross_contribution:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_gross_contribution:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q3_gross_contribution:downside/formula/refs/0 | None | downside_2026q3_legacy_gross |
| /operating_model/cells/downside_2026q3_gross_contribution:downside/formula/refs/1 | None | downside_2026q3_mine_gross |
| /operating_model/cells/downside_2026q3_gross_contribution:downside/formula/refs/2 | None | downside_2026q3_magnet_gross |
| /operating_model/cells/downside_2026q3_gross_contribution:downside/id | None | downside_2026q3_gross_contribution |
| /operating_model/cells/downside_2026q3_gross_contribution:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_gross_contribution:downside/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/downside_2026q3_gross_contribution:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_gross_contribution:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_gross_contribution:downside/value | None | -3.962708333333333 |
| /operating_model/cells/downside_2026q3_interest_fraction:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_interest_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_interest_fraction:downside/id | None | downside_2026q3_interest_fraction |
| /operating_model/cells/downside_2026q3_interest_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_interest_fraction:downside/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/downside_2026q3_interest_fraction:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_interest_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q3_interest_fraction:downside/value | None | 0.08333333333333333 |
| /operating_model/cells/downside_2026q3_legacy_gross:downside/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/downside_2026q3_legacy_gross:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_legacy_gross:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q3_legacy_gross:downside/formula/refs/0 | None | downside_2026q3_legacy_revenue |
| /operating_model/cells/downside_2026q3_legacy_gross:downside/formula/refs/1 | None | downside_2026q3_legacy_margin |
| /operating_model/cells/downside_2026q3_legacy_gross:downside/id | None | downside_2026q3_legacy_gross |
| /operating_model/cells/downside_2026q3_legacy_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_legacy_gross:downside/label | None | Legacy cash gross contribution |
| /operating_model/cells/downside_2026q3_legacy_gross:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_legacy_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_legacy_gross:downside/value | None | 0.48 |
| /operating_model/cells/downside_2026q3_legacy_margin:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_legacy_margin:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_legacy_margin:downside/id | None | downside_2026q3_legacy_margin |
| /operating_model/cells/downside_2026q3_legacy_margin:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_legacy_margin:downside/label | None | Legacy margin before D&A |
| /operating_model/cells/downside_2026q3_legacy_margin:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_legacy_margin:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q3_legacy_margin:downside/value | None | 0.08 |
| /operating_model/cells/downside_2026q3_legacy_revenue:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_legacy_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_legacy_revenue:downside/id | None | downside_2026q3_legacy_revenue |
| /operating_model/cells/downside_2026q3_legacy_revenue:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_legacy_revenue:downside/label | None | Legacy alloy and services revenue |
| /operating_model/cells/downside_2026q3_legacy_revenue:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_legacy_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_legacy_revenue:downside/value | None | 6.0 |
| /operating_model/cells/downside_2026q3_magnet_gross:downside/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/downside_2026q3_magnet_gross:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_magnet_gross:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q3_magnet_gross:downside/formula/refs/0 | None | downside_2026q3_magnet_revenue |
| /operating_model/cells/downside_2026q3_magnet_gross:downside/formula/refs/1 | None | downside_2026q3_magnet_margin |
| /operating_model/cells/downside_2026q3_magnet_gross:downside/id | None | downside_2026q3_magnet_gross |
| /operating_model/cells/downside_2026q3_magnet_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_magnet_gross:downside/label | None | Magnet ramp cash contribution |
| /operating_model/cells/downside_2026q3_magnet_gross:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_magnet_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_magnet_gross:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q3_magnet_margin:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_magnet_margin:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_magnet_margin:downside/id | None | downside_2026q3_magnet_margin |
| /operating_model/cells/downside_2026q3_magnet_margin:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_magnet_margin:downside/label | None | Magnet cash gross margin |
| /operating_model/cells/downside_2026q3_magnet_margin:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_magnet_margin:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q3_magnet_margin:downside/value | None | -1.0 |
| /operating_model/cells/downside_2026q3_magnet_price:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_magnet_price:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_magnet_price:downside/id | None | downside_2026q3_magnet_price |
| /operating_model/cells/downside_2026q3_magnet_price:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_magnet_price:downside/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/downside_2026q3_magnet_price:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_magnet_price:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_magnet_price:downside/value | None | 0.052 |
| /operating_model/cells/downside_2026q3_magnet_revenue:downside/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/downside_2026q3_magnet_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_magnet_revenue:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q3_magnet_revenue:downside/formula/refs/0 | None | downside_2026q3_magnet_tonnes |
| /operating_model/cells/downside_2026q3_magnet_revenue:downside/formula/refs/1 | None | downside_2026q3_magnet_price |
| /operating_model/cells/downside_2026q3_magnet_revenue:downside/id | None | downside_2026q3_magnet_revenue |
| /operating_model/cells/downside_2026q3_magnet_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_magnet_revenue:downside/label | None | Accepted magnet sales |
| /operating_model/cells/downside_2026q3_magnet_revenue:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_magnet_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_magnet_revenue:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q3_magnet_tonnes:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_magnet_tonnes:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_magnet_tonnes:downside/id | None | downside_2026q3_magnet_tonnes |
| /operating_model/cells/downside_2026q3_magnet_tonnes:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_magnet_tonnes:downside/label | None | Accepted external magnet tonnes |
| /operating_model/cells/downside_2026q3_magnet_tonnes:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_magnet_tonnes:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q3_magnet_tonnes:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q3_mine_cash_cost:downside/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/downside_2026q3_mine_cash_cost:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_mine_cash_cost:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q3_mine_cash_cost:downside/formula/refs/0 | None | downside_2026q3_mine_variable_cost |
| /operating_model/cells/downside_2026q3_mine_cash_cost:downside/formula/refs/1 | None | downside_2026q3_mine_fixed_cost |
| /operating_model/cells/downside_2026q3_mine_cash_cost:downside/id | None | downside_2026q3_mine_cash_cost |
| /operating_model/cells/downside_2026q3_mine_cash_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_mine_cash_cost:downside/label | None | Mine cash production cost |
| /operating_model/cells/downside_2026q3_mine_cash_cost:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_mine_cash_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_mine_cash_cost:downside/value | None | 5.130208333333333 |
| /operating_model/cells/downside_2026q3_mine_fixed_cost:downside/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/downside_2026q3_mine_fixed_cost:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_mine_fixed_cost:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q3_mine_fixed_cost:downside/formula/refs/0 | None | downside_2026q3_mine_fixed_full |
| /operating_model/cells/downside_2026q3_mine_fixed_cost:downside/formula/refs/1 | None | downside_2026q3_ownership_fraction |
| /operating_model/cells/downside_2026q3_mine_fixed_cost:downside/id | None | downside_2026q3_mine_fixed_cost |
| /operating_model/cells/downside_2026q3_mine_fixed_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_mine_fixed_cost:downside/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/downside_2026q3_mine_fixed_cost:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_mine_fixed_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_mine_fixed_cost:downside/value | None | 4.583333333333333 |
| /operating_model/cells/downside_2026q3_mine_fixed_full:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_mine_fixed_full:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_mine_fixed_full:downside/id | None | downside_2026q3_mine_fixed_full |
| /operating_model/cells/downside_2026q3_mine_fixed_full:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_mine_fixed_full:downside/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/downside_2026q3_mine_fixed_full:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_mine_fixed_full:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_mine_fixed_full:downside/value | None | 13.75 |
| /operating_model/cells/downside_2026q3_mine_gross:downside/basis | None | Royalty below contribution. |
| /operating_model/cells/downside_2026q3_mine_gross:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_mine_gross:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q3_mine_gross:downside/formula/refs/0 | None | downside_2026q3_mine_revenue |
| /operating_model/cells/downside_2026q3_mine_gross:downside/formula/refs/1 | None | downside_2026q3_mine_cash_cost |
| /operating_model/cells/downside_2026q3_mine_gross:downside/id | None | downside_2026q3_mine_gross |
| /operating_model/cells/downside_2026q3_mine_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_mine_gross:downside/label | None | Mine revenue less cash production |
| /operating_model/cells/downside_2026q3_mine_gross:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_mine_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_mine_gross:downside/value | None | -4.442708333333333 |
| /operating_model/cells/downside_2026q3_mine_revenue:downside/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/downside_2026q3_mine_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_mine_revenue:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q3_mine_revenue:downside/formula/refs/0 | None | downside_2026q3_recognized_tonnes |
| /operating_model/cells/downside_2026q3_mine_revenue:downside/formula/refs/1 | None | downside_2026q3_treo_price |
| /operating_model/cells/downside_2026q3_mine_revenue:downside/id | None | downside_2026q3_mine_revenue |
| /operating_model/cells/downside_2026q3_mine_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_mine_revenue:downside/label | None | Post-close TREO revenue |
| /operating_model/cells/downside_2026q3_mine_revenue:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_mine_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_mine_revenue:downside/value | None | 0.6875 |
| /operating_model/cells/downside_2026q3_mine_unit_cost:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_mine_unit_cost:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_mine_unit_cost:downside/id | None | downside_2026q3_mine_unit_cost |
| /operating_model/cells/downside_2026q3_mine_unit_cost:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_mine_unit_cost:downside/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/downside_2026q3_mine_unit_cost:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_mine_unit_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_mine_unit_cost:downside/value | None | 0.0175 |
| /operating_model/cells/downside_2026q3_mine_utilization:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_mine_utilization:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_mine_utilization:downside/id | None | downside_2026q3_mine_utilization |
| /operating_model/cells/downside_2026q3_mine_utilization:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_mine_utilization:downside/label | None | Capacity to recognized sales factor |
| /operating_model/cells/downside_2026q3_mine_utilization:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_mine_utilization:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q3_mine_utilization:downside/value | None | 0.15 |
| /operating_model/cells/downside_2026q3_mine_variable_cost:downside/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/downside_2026q3_mine_variable_cost:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_mine_variable_cost:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q3_mine_variable_cost:downside/formula/refs/0 | None | downside_2026q3_recognized_tonnes |
| /operating_model/cells/downside_2026q3_mine_variable_cost:downside/formula/refs/1 | None | downside_2026q3_mine_unit_cost |
| /operating_model/cells/downside_2026q3_mine_variable_cost:downside/id | None | downside_2026q3_mine_variable_cost |
| /operating_model/cells/downside_2026q3_mine_variable_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_mine_variable_cost:downside/label | None | Variable mine cash cost |
| /operating_model/cells/downside_2026q3_mine_variable_cost:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_mine_variable_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_mine_variable_cost:downside/value | None | 0.546875 |
| /operating_model/cells/downside_2026q3_minority_investment:downside/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/downside_2026q3_minority_investment:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_minority_investment:downside/id | None | downside_2026q3_minority_investment |
| /operating_model/cells/downside_2026q3_minority_investment:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_minority_investment:downside/label | None | Carester minority investment cash |
| /operating_model/cells/downside_2026q3_minority_investment:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_minority_investment:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_minority_investment:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q3_operating_cash_uses:downside/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/downside_2026q3_operating_cash_uses:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_operating_cash_uses:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q3_operating_cash_uses:downside/formula/refs/0 | None | downside_2026q3_dfc_interest |
| /operating_model/cells/downside_2026q3_operating_cash_uses:downside/formula/refs/1 | None | downside_2026q3_cash_tax |
| /operating_model/cells/downside_2026q3_operating_cash_uses:downside/formula/refs/2 | None | downside_2026q3_working_capital |
| /operating_model/cells/downside_2026q3_operating_cash_uses:downside/id | None | downside_2026q3_operating_cash_uses |
| /operating_model/cells/downside_2026q3_operating_cash_uses:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_operating_cash_uses:downside/label | None | Interest tax and working-capital use |
| /operating_model/cells/downside_2026q3_operating_cash_uses:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_operating_cash_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_operating_cash_uses:downside/value | None | 17.9375 |
| /operating_model/cells/downside_2026q3_operating_costs:downside/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/downside_2026q3_operating_costs:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_operating_costs:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q3_operating_costs:downside/formula/refs/0 | None | downside_2026q3_cash_overhead |
| /operating_model/cells/downside_2026q3_operating_costs:downside/formula/refs/1 | None | downside_2026q3_royalty_cash |
| /operating_model/cells/downside_2026q3_operating_costs:downside/formula/refs/2 | None | downside_2026q3_da |
| /operating_model/cells/downside_2026q3_operating_costs:downside/formula/refs/3 | None | downside_2026q3_sbc |
| /operating_model/cells/downside_2026q3_operating_costs:downside/formula/refs/4 | None | downside_2026q3_transaction_cost |
| /operating_model/cells/downside_2026q3_operating_costs:downside/id | None | downside_2026q3_operating_costs |
| /operating_model/cells/downside_2026q3_operating_costs:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_operating_costs:downside/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/downside_2026q3_operating_costs:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_operating_costs:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_operating_costs:downside/value | None | 145.03609375 |
| /operating_model/cells/downside_2026q3_operating_income:downside/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/downside_2026q3_operating_income:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_operating_income:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q3_operating_income:downside/formula/refs/0 | None | downside_2026q3_gross_contribution |
| /operating_model/cells/downside_2026q3_operating_income:downside/formula/refs/1 | None | downside_2026q3_operating_costs |
| /operating_model/cells/downside_2026q3_operating_income:downside/id | None | downside_2026q3_operating_income |
| /operating_model/cells/downside_2026q3_operating_income:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_operating_income:downside/label | None | Operating income proxy |
| /operating_model/cells/downside_2026q3_operating_income:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_operating_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_operating_income:downside/value | None | -148.99880208333332 |
| /operating_model/cells/downside_2026q3_other_investing:downside/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/downside_2026q3_other_investing:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_other_investing:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q3_other_investing:downside/formula/refs/0 | None | downside_2026q3_acquisition_cash |
| /operating_model/cells/downside_2026q3_other_investing:downside/formula/refs/1 | None | downside_2026q3_minority_investment |
| /operating_model/cells/downside_2026q3_other_investing:downside/id | None | downside_2026q3_other_investing |
| /operating_model/cells/downside_2026q3_other_investing:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_other_investing:downside/label | None | Acquisition and minority cash |
| /operating_model/cells/downside_2026q3_other_investing:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_other_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_other_investing:downside/value | None | 170.0 |
| /operating_model/cells/downside_2026q3_ownership_fraction:downside/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/downside_2026q3_ownership_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_ownership_fraction:downside/id | None | downside_2026q3_ownership_fraction |
| /operating_model/cells/downside_2026q3_ownership_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_ownership_fraction:downside/label | None | Consolidated fraction of quarter |
| /operating_model/cells/downside_2026q3_ownership_fraction:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_ownership_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q3_ownership_fraction:downside/value | None | 0.3333333333333333 |
| /operating_model/cells/downside_2026q3_quarter_fraction:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_quarter_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_quarter_fraction:downside/id | None | downside_2026q3_quarter_fraction |
| /operating_model/cells/downside_2026q3_quarter_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_quarter_fraction:downside/label | None | Annual-to-quarter fraction |
| /operating_model/cells/downside_2026q3_quarter_fraction:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_quarter_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q3_quarter_fraction:downside/value | None | 0.25 |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/formula/refs/0 | None | downside_2026q3_average_capacity |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/formula/refs/1 | None | downside_2026q3_quarter_fraction |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/formula/refs/2 | None | downside_2026q3_mine_utilization |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/formula/refs/3 | None | downside_2026q3_ownership_fraction |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/id | None | downside_2026q3_recognized_tonnes |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q3_recognized_tonnes:downside/value | None | 31.25 |
| /operating_model/cells/downside_2026q3_revenue:downside/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/downside_2026q3_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q3_revenue:downside/formula/refs/0 | None | downside_2026q3_legacy_revenue |
| /operating_model/cells/downside_2026q3_revenue:downside/formula/refs/1 | None | downside_2026q3_mine_revenue |
| /operating_model/cells/downside_2026q3_revenue:downside/formula/refs/2 | None | downside_2026q3_magnet_revenue |
| /operating_model/cells/downside_2026q3_revenue:downside/id | None | downside_2026q3_revenue |
| /operating_model/cells/downside_2026q3_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_revenue:downside/label | None | Consolidated revenue |
| /operating_model/cells/downside_2026q3_revenue:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_revenue:downside/value | None | 6.6875 |
| /operating_model/cells/downside_2026q3_royalty_cash:downside/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/downside_2026q3_royalty_cash:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_royalty_cash:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q3_royalty_cash:downside/formula/refs/0 | None | downside_2026q3_royalty_variable |
| /operating_model/cells/downside_2026q3_royalty_cash:downside/formula/refs/1 | None | downside_2026q3_royalty_topup |
| /operating_model/cells/downside_2026q3_royalty_cash:downside/id | None | downside_2026q3_royalty_cash |
| /operating_model/cells/downside_2026q3_royalty_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_royalty_cash:downside/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/downside_2026q3_royalty_cash:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_royalty_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_royalty_cash:downside/value | None | 2.03609375 |
| /operating_model/cells/downside_2026q3_royalty_topup:downside/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/downside_2026q3_royalty_topup:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_royalty_topup:downside/id | None | downside_2026q3_royalty_topup |
| /operating_model/cells/downside_2026q3_royalty_topup:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_royalty_topup:downside/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/downside_2026q3_royalty_topup:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_royalty_topup:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_royalty_topup:downside/value | None | 2.0 |
| /operating_model/cells/downside_2026q3_royalty_variable:downside/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/downside_2026q3_royalty_variable:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_royalty_variable:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q3_royalty_variable:downside/formula/refs/0 | None | downside_2026q3_mine_revenue |
| /operating_model/cells/downside_2026q3_royalty_variable:downside/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/downside_2026q3_royalty_variable:downside/id | None | downside_2026q3_royalty_variable |
| /operating_model/cells/downside_2026q3_royalty_variable:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_royalty_variable:downside/label | None | Variable mine royalty |
| /operating_model/cells/downside_2026q3_royalty_variable:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_royalty_variable:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_royalty_variable:downside/value | None | 0.03609375 |
| /operating_model/cells/downside_2026q3_sbc:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_sbc:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_sbc:downside/id | None | downside_2026q3_sbc |
| /operating_model/cells/downside_2026q3_sbc:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_sbc:downside/label | None | Operating SBC |
| /operating_model/cells/downside_2026q3_sbc:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_sbc:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_sbc:downside/value | None | 8.0 |
| /operating_model/cells/downside_2026q3_transaction_cost:downside/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/downside_2026q3_transaction_cost:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_transaction_cost:downside/id | None | downside_2026q3_transaction_cost |
| /operating_model/cells/downside_2026q3_transaction_cost:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_transaction_cost:downside/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/downside_2026q3_transaction_cost:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_transaction_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_transaction_cost:downside/value | None | 80.0 |
| /operating_model/cells/downside_2026q3_treasury_income:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_treasury_income:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_treasury_income:downside/id | None | downside_2026q3_treasury_income |
| /operating_model/cells/downside_2026q3_treasury_income:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_treasury_income:downside/label | None | Cash treasury income |
| /operating_model/cells/downside_2026q3_treasury_income:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_treasury_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_treasury_income:downside/value | None | 10.0 |
| /operating_model/cells/downside_2026q3_treo_price:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_treo_price:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_treo_price:downside/id | None | downside_2026q3_treo_price |
| /operating_model/cells/downside_2026q3_treo_price:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_treo_price:downside/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/downside_2026q3_treo_price:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_treo_price:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_treo_price:downside/value | None | 0.022 |
| /operating_model/cells/downside_2026q3_working_capital:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q3_working_capital:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_working_capital:downside/id | None | downside_2026q3_working_capital |
| /operating_model/cells/downside_2026q3_working_capital:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_working_capital:downside/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/downside_2026q3_working_capital:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_working_capital:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_working_capital:downside/value | None | 15.0 |
| /operating_model/cells/downside_2026q4_acquired_cash:downside/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/downside_2026q4_acquired_cash:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_acquired_cash:downside/id | None | downside_2026q4_acquired_cash |
| /operating_model/cells/downside_2026q4_acquired_cash:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_acquired_cash:downside/label | None | Cash acquired at closing |
| /operating_model/cells/downside_2026q4_acquired_cash:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_acquired_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_acquired_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q4_acquisition_cash:downside/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/downside_2026q4_acquisition_cash:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_acquisition_cash:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q4_acquisition_cash:downside/formula/refs/0 | None | downside_2026q4_new_acquisition |
| /operating_model/cells/downside_2026q4_acquisition_cash:downside/formula/refs/1 | None | downside_2026q4_acquired_cash |
| /operating_model/cells/downside_2026q4_acquisition_cash:downside/id | None | downside_2026q4_acquisition_cash |
| /operating_model/cells/downside_2026q4_acquisition_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_acquisition_cash:downside/label | None | Net acquisition cash |
| /operating_model/cells/downside_2026q4_acquisition_cash:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_acquisition_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_acquisition_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q4_average_capacity:downside/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/downside_2026q4_average_capacity:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_average_capacity:downside/id | None | downside_2026q4_average_capacity |
| /operating_model/cells/downside_2026q4_average_capacity:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_average_capacity:downside/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/downside_2026q4_average_capacity:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_average_capacity:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q4_average_capacity:downside/value | None | 3500.0 |
| /operating_model/cells/downside_2026q4_capex:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_capex:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_capex:downside/id | None | downside_2026q4_capex |
| /operating_model/cells/downside_2026q4_capex:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_capex:downside/label | None | Cash capex and equipment deposits |
| /operating_model/cells/downside_2026q4_capex:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_capex:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_capex:downside/value | None | 150.0 |
| /operating_model/cells/downside_2026q4_cash_after_investing:downside/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/downside_2026q4_cash_after_investing:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_cash_after_investing:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q4_cash_after_investing:downside/formula/refs/0 | None | downside_2026q4_fcf |
| /operating_model/cells/downside_2026q4_cash_after_investing:downside/formula/refs/1 | None | downside_2026q4_other_investing |
| /operating_model/cells/downside_2026q4_cash_after_investing:downside/id | None | downside_2026q4_cash_after_investing |
| /operating_model/cells/downside_2026q4_cash_after_investing:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_cash_after_investing:downside/label | None | Cash after business investing |
| /operating_model/cells/downside_2026q4_cash_after_investing:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_cash_after_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_cash_after_investing:downside/value | None | -259.19059375 |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/formula/refs/0 | None | downside_2026q4_operating_income |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/formula/refs/1 | None | downside_2026q4_da |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/formula/refs/2 | None | downside_2026q4_sbc |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/formula/refs/3 | None | downside_2026q4_treasury_income |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/id | None | downside_2026q4_cash_earnings |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_cash_earnings:downside/value | None | -81.37809375 |
| /operating_model/cells/downside_2026q4_cash_overhead:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_cash_overhead:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_cash_overhead:downside/id | None | downside_2026q4_cash_overhead |
| /operating_model/cells/downside_2026q4_cash_overhead:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_cash_overhead:downside/label | None | Cash SG&A and development |
| /operating_model/cells/downside_2026q4_cash_overhead:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_cash_overhead:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_cash_overhead:downside/value | None | 53.75 |
| /operating_model/cells/downside_2026q4_cash_tax:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_cash_tax:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_cash_tax:downside/id | None | downside_2026q4_cash_tax |
| /operating_model/cells/downside_2026q4_cash_tax:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_cash_tax:downside/label | None | Cash taxes |
| /operating_model/cells/downside_2026q4_cash_tax:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_cash_tax:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_cash_tax:downside/value | None | 0.5 |
| /operating_model/cells/downside_2026q4_cfo:downside/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/downside_2026q4_cfo:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_cfo:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q4_cfo:downside/formula/refs/0 | None | downside_2026q4_cash_earnings |
| /operating_model/cells/downside_2026q4_cfo:downside/formula/refs/1 | None | downside_2026q4_operating_cash_uses |
| /operating_model/cells/downside_2026q4_cfo:downside/id | None | downside_2026q4_cfo |
| /operating_model/cells/downside_2026q4_cfo:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_cfo:downside/label | None | Operating cash flow proxy |
| /operating_model/cells/downside_2026q4_cfo:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_cfo:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_cfo:downside/value | None | -109.19059375 |
| /operating_model/cells/downside_2026q4_da:downside/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/downside_2026q4_da:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_da:downside/id | None | downside_2026q4_da |
| /operating_model/cells/downside_2026q4_da:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_da:downside/label | None | Consolidated operating D&A |
| /operating_model/cells/downside_2026q4_da:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_da:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_da:downside/value | None | 8.0 |
| /operating_model/cells/downside_2026q4_dfc_interest:downside/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/downside_2026q4_dfc_interest:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_dfc_interest:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q4_dfc_interest:downside/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/downside_2026q4_dfc_interest:downside/formula/refs/1 | None | downside_2026q4_dfc_rate |
| /operating_model/cells/downside_2026q4_dfc_interest:downside/formula/refs/2 | None | downside_2026q4_interest_fraction |
| /operating_model/cells/downside_2026q4_dfc_interest:downside/id | None | downside_2026q4_dfc_interest |
| /operating_model/cells/downside_2026q4_dfc_interest:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_dfc_interest:downside/label | None | DFC cash coupon proxy |
| /operating_model/cells/downside_2026q4_dfc_interest:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_dfc_interest:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_dfc_interest:downside/value | None | 7.3125 |
| /operating_model/cells/downside_2026q4_dfc_rate:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_dfc_rate:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_dfc_rate:downside/id | None | downside_2026q4_dfc_rate |
| /operating_model/cells/downside_2026q4_dfc_rate:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_dfc_rate:downside/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/downside_2026q4_dfc_rate:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_dfc_rate:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q4_dfc_rate:downside/value | None | 0.09 |
| /operating_model/cells/downside_2026q4_fcf:downside/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/downside_2026q4_fcf:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_fcf:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q4_fcf:downside/formula/refs/0 | None | downside_2026q4_cfo |
| /operating_model/cells/downside_2026q4_fcf:downside/formula/refs/1 | None | downside_2026q4_capex |
| /operating_model/cells/downside_2026q4_fcf:downside/id | None | downside_2026q4_fcf |
| /operating_model/cells/downside_2026q4_fcf:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_fcf:downside/label | None | CFO less cash capital investment |
| /operating_model/cells/downside_2026q4_fcf:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_fcf:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_fcf:downside/value | None | -259.19059375 |
| /operating_model/cells/downside_2026q4_gross_contribution:downside/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/downside_2026q4_gross_contribution:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_gross_contribution:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q4_gross_contribution:downside/formula/refs/0 | None | downside_2026q4_legacy_gross |
| /operating_model/cells/downside_2026q4_gross_contribution:downside/formula/refs/1 | None | downside_2026q4_mine_gross |
| /operating_model/cells/downside_2026q4_gross_contribution:downside/formula/refs/2 | None | downside_2026q4_magnet_gross |
| /operating_model/cells/downside_2026q4_gross_contribution:downside/id | None | downside_2026q4_gross_contribution |
| /operating_model/cells/downside_2026q4_gross_contribution:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_gross_contribution:downside/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/downside_2026q4_gross_contribution:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_gross_contribution:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_gross_contribution:downside/value | None | -12.274375 |
| /operating_model/cells/downside_2026q4_interest_fraction:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_interest_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_interest_fraction:downside/id | None | downside_2026q4_interest_fraction |
| /operating_model/cells/downside_2026q4_interest_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_interest_fraction:downside/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/downside_2026q4_interest_fraction:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_interest_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q4_interest_fraction:downside/value | None | 0.25 |
| /operating_model/cells/downside_2026q4_legacy_gross:downside/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/downside_2026q4_legacy_gross:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_legacy_gross:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q4_legacy_gross:downside/formula/refs/0 | None | downside_2026q4_legacy_revenue |
| /operating_model/cells/downside_2026q4_legacy_gross:downside/formula/refs/1 | None | downside_2026q4_legacy_margin |
| /operating_model/cells/downside_2026q4_legacy_gross:downside/id | None | downside_2026q4_legacy_gross |
| /operating_model/cells/downside_2026q4_legacy_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_legacy_gross:downside/label | None | Legacy cash gross contribution |
| /operating_model/cells/downside_2026q4_legacy_gross:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_legacy_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_legacy_gross:downside/value | None | 0.52 |
| /operating_model/cells/downside_2026q4_legacy_margin:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_legacy_margin:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_legacy_margin:downside/id | None | downside_2026q4_legacy_margin |
| /operating_model/cells/downside_2026q4_legacy_margin:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_legacy_margin:downside/label | None | Legacy margin before D&A |
| /operating_model/cells/downside_2026q4_legacy_margin:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_legacy_margin:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q4_legacy_margin:downside/value | None | 0.08 |
| /operating_model/cells/downside_2026q4_legacy_revenue:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_legacy_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_legacy_revenue:downside/id | None | downside_2026q4_legacy_revenue |
| /operating_model/cells/downside_2026q4_legacy_revenue:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_legacy_revenue:downside/label | None | Legacy alloy and services revenue |
| /operating_model/cells/downside_2026q4_legacy_revenue:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_legacy_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_legacy_revenue:downside/value | None | 6.5 |
| /operating_model/cells/downside_2026q4_magnet_gross:downside/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/downside_2026q4_magnet_gross:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_magnet_gross:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q4_magnet_gross:downside/formula/refs/0 | None | downside_2026q4_magnet_revenue |
| /operating_model/cells/downside_2026q4_magnet_gross:downside/formula/refs/1 | None | downside_2026q4_magnet_margin |
| /operating_model/cells/downside_2026q4_magnet_gross:downside/id | None | downside_2026q4_magnet_gross |
| /operating_model/cells/downside_2026q4_magnet_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_magnet_gross:downside/label | None | Magnet ramp cash contribution |
| /operating_model/cells/downside_2026q4_magnet_gross:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_magnet_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_magnet_gross:downside/value | None | -0.4225 |
| /operating_model/cells/downside_2026q4_magnet_margin:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_magnet_margin:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_magnet_margin:downside/id | None | downside_2026q4_magnet_margin |
| /operating_model/cells/downside_2026q4_magnet_margin:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_magnet_margin:downside/label | None | Magnet cash gross margin |
| /operating_model/cells/downside_2026q4_magnet_margin:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_magnet_margin:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q4_magnet_margin:downside/value | None | -0.8125 |
| /operating_model/cells/downside_2026q4_magnet_price:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_magnet_price:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_magnet_price:downside/id | None | downside_2026q4_magnet_price |
| /operating_model/cells/downside_2026q4_magnet_price:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_magnet_price:downside/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/downside_2026q4_magnet_price:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_magnet_price:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_magnet_price:downside/value | None | 0.052 |
| /operating_model/cells/downside_2026q4_magnet_revenue:downside/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/downside_2026q4_magnet_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_magnet_revenue:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q4_magnet_revenue:downside/formula/refs/0 | None | downside_2026q4_magnet_tonnes |
| /operating_model/cells/downside_2026q4_magnet_revenue:downside/formula/refs/1 | None | downside_2026q4_magnet_price |
| /operating_model/cells/downside_2026q4_magnet_revenue:downside/id | None | downside_2026q4_magnet_revenue |
| /operating_model/cells/downside_2026q4_magnet_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_magnet_revenue:downside/label | None | Accepted magnet sales |
| /operating_model/cells/downside_2026q4_magnet_revenue:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_magnet_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_magnet_revenue:downside/value | None | 0.52 |
| /operating_model/cells/downside_2026q4_magnet_tonnes:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_magnet_tonnes:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_magnet_tonnes:downside/id | None | downside_2026q4_magnet_tonnes |
| /operating_model/cells/downside_2026q4_magnet_tonnes:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_magnet_tonnes:downside/label | None | Accepted external magnet tonnes |
| /operating_model/cells/downside_2026q4_magnet_tonnes:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_magnet_tonnes:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q4_magnet_tonnes:downside/value | None | 10.0 |
| /operating_model/cells/downside_2026q4_mine_cash_cost:downside/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/downside_2026q4_mine_cash_cost:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_mine_cash_cost:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q4_mine_cash_cost:downside/formula/refs/0 | None | downside_2026q4_mine_variable_cost |
| /operating_model/cells/downside_2026q4_mine_cash_cost:downside/formula/refs/1 | None | downside_2026q4_mine_fixed_cost |
| /operating_model/cells/downside_2026q4_mine_cash_cost:downside/id | None | downside_2026q4_mine_cash_cost |
| /operating_model/cells/downside_2026q4_mine_cash_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_mine_cash_cost:downside/label | None | Mine cash production cost |
| /operating_model/cells/downside_2026q4_mine_cash_cost:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_mine_cash_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_mine_cash_cost:downside/value | None | 19.109375 |
| /operating_model/cells/downside_2026q4_mine_fixed_cost:downside/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/downside_2026q4_mine_fixed_cost:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_mine_fixed_cost:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q4_mine_fixed_cost:downside/formula/refs/0 | None | downside_2026q4_mine_fixed_full |
| /operating_model/cells/downside_2026q4_mine_fixed_cost:downside/formula/refs/1 | None | downside_2026q4_ownership_fraction |
| /operating_model/cells/downside_2026q4_mine_fixed_cost:downside/id | None | downside_2026q4_mine_fixed_cost |
| /operating_model/cells/downside_2026q4_mine_fixed_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_mine_fixed_cost:downside/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/downside_2026q4_mine_fixed_cost:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_mine_fixed_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_mine_fixed_cost:downside/value | None | 13.75 |
| /operating_model/cells/downside_2026q4_mine_fixed_full:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_mine_fixed_full:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_mine_fixed_full:downside/id | None | downside_2026q4_mine_fixed_full |
| /operating_model/cells/downside_2026q4_mine_fixed_full:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_mine_fixed_full:downside/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/downside_2026q4_mine_fixed_full:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_mine_fixed_full:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_mine_fixed_full:downside/value | None | 13.75 |
| /operating_model/cells/downside_2026q4_mine_gross:downside/basis | None | Royalty below contribution. |
| /operating_model/cells/downside_2026q4_mine_gross:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_mine_gross:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q4_mine_gross:downside/formula/refs/0 | None | downside_2026q4_mine_revenue |
| /operating_model/cells/downside_2026q4_mine_gross:downside/formula/refs/1 | None | downside_2026q4_mine_cash_cost |
| /operating_model/cells/downside_2026q4_mine_gross:downside/id | None | downside_2026q4_mine_gross |
| /operating_model/cells/downside_2026q4_mine_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_mine_gross:downside/label | None | Mine revenue less cash production |
| /operating_model/cells/downside_2026q4_mine_gross:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_mine_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_mine_gross:downside/value | None | -12.371875 |
| /operating_model/cells/downside_2026q4_mine_revenue:downside/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/downside_2026q4_mine_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_mine_revenue:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q4_mine_revenue:downside/formula/refs/0 | None | downside_2026q4_recognized_tonnes |
| /operating_model/cells/downside_2026q4_mine_revenue:downside/formula/refs/1 | None | downside_2026q4_treo_price |
| /operating_model/cells/downside_2026q4_mine_revenue:downside/id | None | downside_2026q4_mine_revenue |
| /operating_model/cells/downside_2026q4_mine_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_mine_revenue:downside/label | None | Post-close TREO revenue |
| /operating_model/cells/downside_2026q4_mine_revenue:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_mine_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_mine_revenue:downside/value | None | 6.7375 |
| /operating_model/cells/downside_2026q4_mine_unit_cost:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_mine_unit_cost:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_mine_unit_cost:downside/id | None | downside_2026q4_mine_unit_cost |
| /operating_model/cells/downside_2026q4_mine_unit_cost:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_mine_unit_cost:downside/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/downside_2026q4_mine_unit_cost:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_mine_unit_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_mine_unit_cost:downside/value | None | 0.0175 |
| /operating_model/cells/downside_2026q4_mine_utilization:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_mine_utilization:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_mine_utilization:downside/id | None | downside_2026q4_mine_utilization |
| /operating_model/cells/downside_2026q4_mine_utilization:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_mine_utilization:downside/label | None | Capacity to recognized sales factor |
| /operating_model/cells/downside_2026q4_mine_utilization:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_mine_utilization:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q4_mine_utilization:downside/value | None | 0.35 |
| /operating_model/cells/downside_2026q4_mine_variable_cost:downside/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/downside_2026q4_mine_variable_cost:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_mine_variable_cost:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q4_mine_variable_cost:downside/formula/refs/0 | None | downside_2026q4_recognized_tonnes |
| /operating_model/cells/downside_2026q4_mine_variable_cost:downside/formula/refs/1 | None | downside_2026q4_mine_unit_cost |
| /operating_model/cells/downside_2026q4_mine_variable_cost:downside/id | None | downside_2026q4_mine_variable_cost |
| /operating_model/cells/downside_2026q4_mine_variable_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_mine_variable_cost:downside/label | None | Variable mine cash cost |
| /operating_model/cells/downside_2026q4_mine_variable_cost:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_mine_variable_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_mine_variable_cost:downside/value | None | 5.359375000000001 |
| /operating_model/cells/downside_2026q4_minority_investment:downside/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/downside_2026q4_minority_investment:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_minority_investment:downside/id | None | downside_2026q4_minority_investment |
| /operating_model/cells/downside_2026q4_minority_investment:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_minority_investment:downside/label | None | Carester minority investment cash |
| /operating_model/cells/downside_2026q4_minority_investment:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_minority_investment:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_minority_investment:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q4_new_acquisition:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_new_acquisition:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_new_acquisition:downside/id | None | downside_2026q4_new_acquisition |
| /operating_model/cells/downside_2026q4_new_acquisition:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_new_acquisition:downside/label | None | Other acquisition purchase cash |
| /operating_model/cells/downside_2026q4_new_acquisition:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_new_acquisition:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_new_acquisition:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q4_operating_cash_uses:downside/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/downside_2026q4_operating_cash_uses:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_operating_cash_uses:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q4_operating_cash_uses:downside/formula/refs/0 | None | downside_2026q4_dfc_interest |
| /operating_model/cells/downside_2026q4_operating_cash_uses:downside/formula/refs/1 | None | downside_2026q4_cash_tax |
| /operating_model/cells/downside_2026q4_operating_cash_uses:downside/formula/refs/2 | None | downside_2026q4_working_capital |
| /operating_model/cells/downside_2026q4_operating_cash_uses:downside/id | None | downside_2026q4_operating_cash_uses |
| /operating_model/cells/downside_2026q4_operating_cash_uses:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_operating_cash_uses:downside/label | None | Interest tax and working-capital use |
| /operating_model/cells/downside_2026q4_operating_cash_uses:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_operating_cash_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_operating_cash_uses:downside/value | None | 27.8125 |
| /operating_model/cells/downside_2026q4_operating_costs:downside/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/downside_2026q4_operating_costs:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_operating_costs:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q4_operating_costs:downside/formula/refs/0 | None | downside_2026q4_cash_overhead |
| /operating_model/cells/downside_2026q4_operating_costs:downside/formula/refs/1 | None | downside_2026q4_royalty_cash |
| /operating_model/cells/downside_2026q4_operating_costs:downside/formula/refs/2 | None | downside_2026q4_da |
| /operating_model/cells/downside_2026q4_operating_costs:downside/formula/refs/3 | None | downside_2026q4_sbc |
| /operating_model/cells/downside_2026q4_operating_costs:downside/formula/refs/4 | None | downside_2026q4_transaction_cost |
| /operating_model/cells/downside_2026q4_operating_costs:downside/id | None | downside_2026q4_operating_costs |
| /operating_model/cells/downside_2026q4_operating_costs:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_operating_costs:downside/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/downside_2026q4_operating_costs:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_operating_costs:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_operating_costs:downside/value | None | 96.10371875 |
| /operating_model/cells/downside_2026q4_operating_income:downside/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/downside_2026q4_operating_income:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_operating_income:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q4_operating_income:downside/formula/refs/0 | None | downside_2026q4_gross_contribution |
| /operating_model/cells/downside_2026q4_operating_income:downside/formula/refs/1 | None | downside_2026q4_operating_costs |
| /operating_model/cells/downside_2026q4_operating_income:downside/id | None | downside_2026q4_operating_income |
| /operating_model/cells/downside_2026q4_operating_income:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_operating_income:downside/label | None | Operating income proxy |
| /operating_model/cells/downside_2026q4_operating_income:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_operating_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_operating_income:downside/value | None | -108.37809375 |
| /operating_model/cells/downside_2026q4_other_investing:downside/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/downside_2026q4_other_investing:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_other_investing:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q4_other_investing:downside/formula/refs/0 | None | downside_2026q4_acquisition_cash |
| /operating_model/cells/downside_2026q4_other_investing:downside/formula/refs/1 | None | downside_2026q4_minority_investment |
| /operating_model/cells/downside_2026q4_other_investing:downside/id | None | downside_2026q4_other_investing |
| /operating_model/cells/downside_2026q4_other_investing:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_other_investing:downside/label | None | Acquisition and minority cash |
| /operating_model/cells/downside_2026q4_other_investing:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_other_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_other_investing:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q4_ownership_fraction:downside/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/downside_2026q4_ownership_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_ownership_fraction:downside/id | None | downside_2026q4_ownership_fraction |
| /operating_model/cells/downside_2026q4_ownership_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_ownership_fraction:downside/label | None | Consolidated fraction of quarter |
| /operating_model/cells/downside_2026q4_ownership_fraction:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_ownership_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q4_ownership_fraction:downside/value | None | 1.0 |
| /operating_model/cells/downside_2026q4_quarter_fraction:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_quarter_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_quarter_fraction:downside/id | None | downside_2026q4_quarter_fraction |
| /operating_model/cells/downside_2026q4_quarter_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_quarter_fraction:downside/label | None | Annual-to-quarter fraction |
| /operating_model/cells/downside_2026q4_quarter_fraction:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_quarter_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q4_quarter_fraction:downside/value | None | 0.25 |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/formula/refs/0 | None | downside_2026q4_average_capacity |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/formula/refs/1 | None | downside_2026q4_quarter_fraction |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/formula/refs/2 | None | downside_2026q4_mine_utilization |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/formula/refs/3 | None | downside_2026q4_ownership_fraction |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/id | None | downside_2026q4_recognized_tonnes |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q4_recognized_tonnes:downside/value | None | 306.25 |
| /operating_model/cells/downside_2026q4_revenue:downside/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/downside_2026q4_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q4_revenue:downside/formula/refs/0 | None | downside_2026q4_legacy_revenue |
| /operating_model/cells/downside_2026q4_revenue:downside/formula/refs/1 | None | downside_2026q4_mine_revenue |
| /operating_model/cells/downside_2026q4_revenue:downside/formula/refs/2 | None | downside_2026q4_magnet_revenue |
| /operating_model/cells/downside_2026q4_revenue:downside/id | None | downside_2026q4_revenue |
| /operating_model/cells/downside_2026q4_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_revenue:downside/label | None | Consolidated revenue |
| /operating_model/cells/downside_2026q4_revenue:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_revenue:downside/value | None | 13.7575 |
| /operating_model/cells/downside_2026q4_royalty_cash:downside/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/downside_2026q4_royalty_cash:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_royalty_cash:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q4_royalty_cash:downside/formula/refs/0 | None | downside_2026q4_royalty_variable |
| /operating_model/cells/downside_2026q4_royalty_cash:downside/formula/refs/1 | None | downside_2026q4_royalty_topup |
| /operating_model/cells/downside_2026q4_royalty_cash:downside/id | None | downside_2026q4_royalty_cash |
| /operating_model/cells/downside_2026q4_royalty_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_royalty_cash:downside/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/downside_2026q4_royalty_cash:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_royalty_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_royalty_cash:downside/value | None | 5.35371875 |
| /operating_model/cells/downside_2026q4_royalty_topup:downside/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/downside_2026q4_royalty_topup:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_royalty_topup:downside/id | None | downside_2026q4_royalty_topup |
| /operating_model/cells/downside_2026q4_royalty_topup:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_royalty_topup:downside/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/downside_2026q4_royalty_topup:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_royalty_topup:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_royalty_topup:downside/value | None | 5.0 |
| /operating_model/cells/downside_2026q4_royalty_variable:downside/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/downside_2026q4_royalty_variable:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_royalty_variable:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q4_royalty_variable:downside/formula/refs/0 | None | downside_2026q4_mine_revenue |
| /operating_model/cells/downside_2026q4_royalty_variable:downside/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/downside_2026q4_royalty_variable:downside/id | None | downside_2026q4_royalty_variable |
| /operating_model/cells/downside_2026q4_royalty_variable:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_royalty_variable:downside/label | None | Variable mine royalty |
| /operating_model/cells/downside_2026q4_royalty_variable:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_royalty_variable:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_royalty_variable:downside/value | None | 0.35371874999999997 |
| /operating_model/cells/downside_2026q4_sbc:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_sbc:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_sbc:downside/id | None | downside_2026q4_sbc |
| /operating_model/cells/downside_2026q4_sbc:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_sbc:downside/label | None | Operating SBC |
| /operating_model/cells/downside_2026q4_sbc:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_sbc:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_sbc:downside/value | None | 9.0 |
| /operating_model/cells/downside_2026q4_transaction_cost:downside/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/downside_2026q4_transaction_cost:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_transaction_cost:downside/id | None | downside_2026q4_transaction_cost |
| /operating_model/cells/downside_2026q4_transaction_cost:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_transaction_cost:downside/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/downside_2026q4_transaction_cost:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_transaction_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_transaction_cost:downside/value | None | 20.0 |
| /operating_model/cells/downside_2026q4_treasury_income:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_treasury_income:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_treasury_income:downside/id | None | downside_2026q4_treasury_income |
| /operating_model/cells/downside_2026q4_treasury_income:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_treasury_income:downside/label | None | Cash treasury income |
| /operating_model/cells/downside_2026q4_treasury_income:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_treasury_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_treasury_income:downside/value | None | 10.0 |
| /operating_model/cells/downside_2026q4_treo_price:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_treo_price:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_treo_price:downside/id | None | downside_2026q4_treo_price |
| /operating_model/cells/downside_2026q4_treo_price:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_treo_price:downside/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/downside_2026q4_treo_price:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_treo_price:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_treo_price:downside/value | None | 0.022 |
| /operating_model/cells/downside_2026q4_working_capital:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2026q4_working_capital:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_working_capital:downside/id | None | downside_2026q4_working_capital |
| /operating_model/cells/downside_2026q4_working_capital:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_working_capital:downside/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/downside_2026q4_working_capital:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_working_capital:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_working_capital:downside/value | None | 20.0 |
| /operating_model/cells/downside_2027q1_acquired_cash:downside/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/downside_2027q1_acquired_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_acquired_cash:downside/id | None | downside_2027q1_acquired_cash |
| /operating_model/cells/downside_2027q1_acquired_cash:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_acquired_cash:downside/label | None | Cash acquired at closing |
| /operating_model/cells/downside_2027q1_acquired_cash:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_acquired_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_acquired_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q1_acquisition_cash:downside/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/downside_2027q1_acquisition_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_acquisition_cash:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q1_acquisition_cash:downside/formula/refs/0 | None | downside_2027q1_new_acquisition |
| /operating_model/cells/downside_2027q1_acquisition_cash:downside/formula/refs/1 | None | downside_2027q1_acquired_cash |
| /operating_model/cells/downside_2027q1_acquisition_cash:downside/id | None | downside_2027q1_acquisition_cash |
| /operating_model/cells/downside_2027q1_acquisition_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_acquisition_cash:downside/label | None | Net acquisition cash |
| /operating_model/cells/downside_2027q1_acquisition_cash:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_acquisition_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_acquisition_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q1_average_capacity:downside/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/downside_2027q1_average_capacity:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_average_capacity:downside/id | None | downside_2027q1_average_capacity |
| /operating_model/cells/downside_2027q1_average_capacity:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_average_capacity:downside/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/downside_2027q1_average_capacity:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_average_capacity:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q1_average_capacity:downside/value | None | 3800.0 |
| /operating_model/cells/downside_2027q1_capex:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_capex:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_capex:downside/id | None | downside_2027q1_capex |
| /operating_model/cells/downside_2027q1_capex:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_capex:downside/label | None | Cash capex and equipment deposits |
| /operating_model/cells/downside_2027q1_capex:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_capex:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_capex:downside/value | None | 160.0 |
| /operating_model/cells/downside_2027q1_cash_after_investing:downside/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/downside_2027q1_cash_after_investing:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_cash_after_investing:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q1_cash_after_investing:downside/formula/refs/0 | None | downside_2027q1_fcf |
| /operating_model/cells/downside_2027q1_cash_after_investing:downside/formula/refs/1 | None | downside_2027q1_other_investing |
| /operating_model/cells/downside_2027q1_cash_after_investing:downside/id | None | downside_2027q1_cash_after_investing |
| /operating_model/cells/downside_2027q1_cash_after_investing:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_cash_after_investing:downside/label | None | Cash after business investing |
| /operating_model/cells/downside_2027q1_cash_after_investing:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_cash_after_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_cash_after_investing:downside/value | None | -260.8850125 |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/formula/refs/0 | None | downside_2027q1_operating_income |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/formula/refs/1 | None | downside_2027q1_da |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/formula/refs/2 | None | downside_2027q1_sbc |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/formula/refs/3 | None | downside_2027q1_treasury_income |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/id | None | downside_2027q1_cash_earnings |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_cash_earnings:downside/value | None | -68.0725125 |
| /operating_model/cells/downside_2027q1_cash_overhead:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_cash_overhead:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_cash_overhead:downside/id | None | downside_2027q1_cash_overhead |
| /operating_model/cells/downside_2027q1_cash_overhead:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_cash_overhead:downside/label | None | Cash SG&A and development |
| /operating_model/cells/downside_2027q1_cash_overhead:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_cash_overhead:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_cash_overhead:downside/value | None | 57.5 |
| /operating_model/cells/downside_2027q1_cash_tax:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_cash_tax:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_cash_tax:downside/id | None | downside_2027q1_cash_tax |
| /operating_model/cells/downside_2027q1_cash_tax:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_cash_tax:downside/label | None | Cash taxes |
| /operating_model/cells/downside_2027q1_cash_tax:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_cash_tax:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_cash_tax:downside/value | None | 0.5 |
| /operating_model/cells/downside_2027q1_cfo:downside/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/downside_2027q1_cfo:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_cfo:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q1_cfo:downside/formula/refs/0 | None | downside_2027q1_cash_earnings |
| /operating_model/cells/downside_2027q1_cfo:downside/formula/refs/1 | None | downside_2027q1_operating_cash_uses |
| /operating_model/cells/downside_2027q1_cfo:downside/id | None | downside_2027q1_cfo |
| /operating_model/cells/downside_2027q1_cfo:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_cfo:downside/label | None | Operating cash flow proxy |
| /operating_model/cells/downside_2027q1_cfo:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_cfo:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_cfo:downside/value | None | -100.8850125 |
| /operating_model/cells/downside_2027q1_da:downside/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/downside_2027q1_da:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_da:downside/id | None | downside_2027q1_da |
| /operating_model/cells/downside_2027q1_da:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_da:downside/label | None | Consolidated operating D&A |
| /operating_model/cells/downside_2027q1_da:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_da:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_da:downside/value | None | 11.0 |
| /operating_model/cells/downside_2027q1_dfc_interest:downside/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/downside_2027q1_dfc_interest:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_dfc_interest:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q1_dfc_interest:downside/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/downside_2027q1_dfc_interest:downside/formula/refs/1 | None | downside_2027q1_dfc_rate |
| /operating_model/cells/downside_2027q1_dfc_interest:downside/formula/refs/2 | None | downside_2027q1_interest_fraction |
| /operating_model/cells/downside_2027q1_dfc_interest:downside/id | None | downside_2027q1_dfc_interest |
| /operating_model/cells/downside_2027q1_dfc_interest:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_dfc_interest:downside/label | None | DFC cash coupon proxy |
| /operating_model/cells/downside_2027q1_dfc_interest:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_dfc_interest:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_dfc_interest:downside/value | None | 7.3125 |
| /operating_model/cells/downside_2027q1_dfc_rate:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_dfc_rate:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_dfc_rate:downside/id | None | downside_2027q1_dfc_rate |
| /operating_model/cells/downside_2027q1_dfc_rate:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_dfc_rate:downside/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/downside_2027q1_dfc_rate:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_dfc_rate:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q1_dfc_rate:downside/value | None | 0.09 |
| /operating_model/cells/downside_2027q1_fcf:downside/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/downside_2027q1_fcf:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_fcf:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q1_fcf:downside/formula/refs/0 | None | downside_2027q1_cfo |
| /operating_model/cells/downside_2027q1_fcf:downside/formula/refs/1 | None | downside_2027q1_capex |
| /operating_model/cells/downside_2027q1_fcf:downside/id | None | downside_2027q1_fcf |
| /operating_model/cells/downside_2027q1_fcf:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_fcf:downside/label | None | CFO less cash capital investment |
| /operating_model/cells/downside_2027q1_fcf:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_fcf:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_fcf:downside/value | None | -260.8850125 |
| /operating_model/cells/downside_2027q1_gross_contribution:downside/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/downside_2027q1_gross_contribution:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_gross_contribution:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q1_gross_contribution:downside/formula/refs/0 | None | downside_2027q1_legacy_gross |
| /operating_model/cells/downside_2027q1_gross_contribution:downside/formula/refs/1 | None | downside_2027q1_mine_gross |
| /operating_model/cells/downside_2027q1_gross_contribution:downside/formula/refs/2 | None | downside_2027q1_magnet_gross |
| /operating_model/cells/downside_2027q1_gross_contribution:downside/id | None | downside_2027q1_gross_contribution |
| /operating_model/cells/downside_2027q1_gross_contribution:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_gross_contribution:downside/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/downside_2027q1_gross_contribution:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_gross_contribution:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_gross_contribution:downside/value | None | -12.078750000000003 |
| /operating_model/cells/downside_2027q1_interest_fraction:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_interest_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_interest_fraction:downside/id | None | downside_2027q1_interest_fraction |
| /operating_model/cells/downside_2027q1_interest_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_interest_fraction:downside/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/downside_2027q1_interest_fraction:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_interest_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q1_interest_fraction:downside/value | None | 0.25 |
| /operating_model/cells/downside_2027q1_legacy_gross:downside/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/downside_2027q1_legacy_gross:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_legacy_gross:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q1_legacy_gross:downside/formula/refs/0 | None | downside_2027q1_legacy_revenue |
| /operating_model/cells/downside_2027q1_legacy_gross:downside/formula/refs/1 | None | downside_2027q1_legacy_margin |
| /operating_model/cells/downside_2027q1_legacy_gross:downside/id | None | downside_2027q1_legacy_gross |
| /operating_model/cells/downside_2027q1_legacy_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_legacy_gross:downside/label | None | Legacy cash gross contribution |
| /operating_model/cells/downside_2027q1_legacy_gross:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_legacy_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_legacy_gross:downside/value | None | 0.56 |
| /operating_model/cells/downside_2027q1_legacy_margin:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_legacy_margin:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_legacy_margin:downside/id | None | downside_2027q1_legacy_margin |
| /operating_model/cells/downside_2027q1_legacy_margin:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_legacy_margin:downside/label | None | Legacy margin before D&A |
| /operating_model/cells/downside_2027q1_legacy_margin:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_legacy_margin:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q1_legacy_margin:downside/value | None | 0.08 |
| /operating_model/cells/downside_2027q1_legacy_revenue:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_legacy_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_legacy_revenue:downside/id | None | downside_2027q1_legacy_revenue |
| /operating_model/cells/downside_2027q1_legacy_revenue:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_legacy_revenue:downside/label | None | Legacy alloy and services revenue |
| /operating_model/cells/downside_2027q1_legacy_revenue:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_legacy_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_legacy_revenue:downside/value | None | 7.0 |
| /operating_model/cells/downside_2027q1_magnet_gross:downside/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/downside_2027q1_magnet_gross:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_magnet_gross:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q1_magnet_gross:downside/formula/refs/0 | None | downside_2027q1_magnet_revenue |
| /operating_model/cells/downside_2027q1_magnet_gross:downside/formula/refs/1 | None | downside_2027q1_magnet_margin |
| /operating_model/cells/downside_2027q1_magnet_gross:downside/id | None | downside_2027q1_magnet_gross |
| /operating_model/cells/downside_2027q1_magnet_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_magnet_gross:downside/label | None | Magnet ramp cash contribution |
| /operating_model/cells/downside_2027q1_magnet_gross:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_magnet_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_magnet_gross:downside/value | None | -0.8125 |
| /operating_model/cells/downside_2027q1_magnet_margin:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_magnet_margin:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_magnet_margin:downside/id | None | downside_2027q1_magnet_margin |
| /operating_model/cells/downside_2027q1_magnet_margin:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_magnet_margin:downside/label | None | Magnet cash gross margin |
| /operating_model/cells/downside_2027q1_magnet_margin:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_magnet_margin:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q1_magnet_margin:downside/value | None | -0.625 |
| /operating_model/cells/downside_2027q1_magnet_price:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_magnet_price:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_magnet_price:downside/id | None | downside_2027q1_magnet_price |
| /operating_model/cells/downside_2027q1_magnet_price:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_magnet_price:downside/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/downside_2027q1_magnet_price:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_magnet_price:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_magnet_price:downside/value | None | 0.052 |
| /operating_model/cells/downside_2027q1_magnet_revenue:downside/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/downside_2027q1_magnet_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_magnet_revenue:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q1_magnet_revenue:downside/formula/refs/0 | None | downside_2027q1_magnet_tonnes |
| /operating_model/cells/downside_2027q1_magnet_revenue:downside/formula/refs/1 | None | downside_2027q1_magnet_price |
| /operating_model/cells/downside_2027q1_magnet_revenue:downside/id | None | downside_2027q1_magnet_revenue |
| /operating_model/cells/downside_2027q1_magnet_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_magnet_revenue:downside/label | None | Accepted magnet sales |
| /operating_model/cells/downside_2027q1_magnet_revenue:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_magnet_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_magnet_revenue:downside/value | None | 1.3 |
| /operating_model/cells/downside_2027q1_magnet_tonnes:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_magnet_tonnes:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_magnet_tonnes:downside/id | None | downside_2027q1_magnet_tonnes |
| /operating_model/cells/downside_2027q1_magnet_tonnes:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_magnet_tonnes:downside/label | None | Accepted external magnet tonnes |
| /operating_model/cells/downside_2027q1_magnet_tonnes:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_magnet_tonnes:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q1_magnet_tonnes:downside/value | None | 25.0 |
| /operating_model/cells/downside_2027q1_mine_cash_cost:downside/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/downside_2027q1_mine_cash_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_mine_cash_cost:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q1_mine_cash_cost:downside/formula/refs/0 | None | downside_2027q1_mine_variable_cost |
| /operating_model/cells/downside_2027q1_mine_cash_cost:downside/formula/refs/1 | None | downside_2027q1_mine_fixed_cost |
| /operating_model/cells/downside_2027q1_mine_cash_cost:downside/id | None | downside_2027q1_mine_cash_cost |
| /operating_model/cells/downside_2027q1_mine_cash_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_mine_cash_cost:downside/label | None | Mine cash production cost |
| /operating_model/cells/downside_2027q1_mine_cash_cost:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_mine_cash_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_mine_cash_cost:downside/value | None | 21.231250000000003 |
| /operating_model/cells/downside_2027q1_mine_fixed_cost:downside/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/downside_2027q1_mine_fixed_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_mine_fixed_cost:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q1_mine_fixed_cost:downside/formula/refs/0 | None | downside_2027q1_mine_fixed_full |
| /operating_model/cells/downside_2027q1_mine_fixed_cost:downside/formula/refs/1 | None | downside_2027q1_ownership_fraction |
| /operating_model/cells/downside_2027q1_mine_fixed_cost:downside/id | None | downside_2027q1_mine_fixed_cost |
| /operating_model/cells/downside_2027q1_mine_fixed_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_mine_fixed_cost:downside/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/downside_2027q1_mine_fixed_cost:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_mine_fixed_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_mine_fixed_cost:downside/value | None | 13.75 |
| /operating_model/cells/downside_2027q1_mine_fixed_full:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_mine_fixed_full:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_mine_fixed_full:downside/id | None | downside_2027q1_mine_fixed_full |
| /operating_model/cells/downside_2027q1_mine_fixed_full:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_mine_fixed_full:downside/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/downside_2027q1_mine_fixed_full:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_mine_fixed_full:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_mine_fixed_full:downside/value | None | 13.75 |
| /operating_model/cells/downside_2027q1_mine_gross:downside/basis | None | Royalty below contribution. |
| /operating_model/cells/downside_2027q1_mine_gross:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_mine_gross:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q1_mine_gross:downside/formula/refs/0 | None | downside_2027q1_mine_revenue |
| /operating_model/cells/downside_2027q1_mine_gross:downside/formula/refs/1 | None | downside_2027q1_mine_cash_cost |
| /operating_model/cells/downside_2027q1_mine_gross:downside/id | None | downside_2027q1_mine_gross |
| /operating_model/cells/downside_2027q1_mine_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_mine_gross:downside/label | None | Mine revenue less cash production |
| /operating_model/cells/downside_2027q1_mine_gross:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_mine_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_mine_gross:downside/value | None | -11.826250000000003 |
| /operating_model/cells/downside_2027q1_mine_revenue:downside/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/downside_2027q1_mine_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_mine_revenue:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q1_mine_revenue:downside/formula/refs/0 | None | downside_2027q1_recognized_tonnes |
| /operating_model/cells/downside_2027q1_mine_revenue:downside/formula/refs/1 | None | downside_2027q1_treo_price |
| /operating_model/cells/downside_2027q1_mine_revenue:downside/id | None | downside_2027q1_mine_revenue |
| /operating_model/cells/downside_2027q1_mine_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_mine_revenue:downside/label | None | Post-close TREO revenue |
| /operating_model/cells/downside_2027q1_mine_revenue:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_mine_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_mine_revenue:downside/value | None | 9.405 |
| /operating_model/cells/downside_2027q1_mine_unit_cost:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_mine_unit_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_mine_unit_cost:downside/id | None | downside_2027q1_mine_unit_cost |
| /operating_model/cells/downside_2027q1_mine_unit_cost:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_mine_unit_cost:downside/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/downside_2027q1_mine_unit_cost:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_mine_unit_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_mine_unit_cost:downside/value | None | 0.0175 |
| /operating_model/cells/downside_2027q1_mine_utilization:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_mine_utilization:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_mine_utilization:downside/id | None | downside_2027q1_mine_utilization |
| /operating_model/cells/downside_2027q1_mine_utilization:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_mine_utilization:downside/label | None | Capacity to recognized sales factor |
| /operating_model/cells/downside_2027q1_mine_utilization:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_mine_utilization:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q1_mine_utilization:downside/value | None | 0.45 |
| /operating_model/cells/downside_2027q1_mine_variable_cost:downside/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/downside_2027q1_mine_variable_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_mine_variable_cost:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q1_mine_variable_cost:downside/formula/refs/0 | None | downside_2027q1_recognized_tonnes |
| /operating_model/cells/downside_2027q1_mine_variable_cost:downside/formula/refs/1 | None | downside_2027q1_mine_unit_cost |
| /operating_model/cells/downside_2027q1_mine_variable_cost:downside/id | None | downside_2027q1_mine_variable_cost |
| /operating_model/cells/downside_2027q1_mine_variable_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_mine_variable_cost:downside/label | None | Variable mine cash cost |
| /operating_model/cells/downside_2027q1_mine_variable_cost:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_mine_variable_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_mine_variable_cost:downside/value | None | 7.481250000000001 |
| /operating_model/cells/downside_2027q1_minority_investment:downside/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/downside_2027q1_minority_investment:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_minority_investment:downside/id | None | downside_2027q1_minority_investment |
| /operating_model/cells/downside_2027q1_minority_investment:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_minority_investment:downside/label | None | Carester minority investment cash |
| /operating_model/cells/downside_2027q1_minority_investment:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_minority_investment:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_minority_investment:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q1_new_acquisition:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_new_acquisition:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_new_acquisition:downside/id | None | downside_2027q1_new_acquisition |
| /operating_model/cells/downside_2027q1_new_acquisition:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_new_acquisition:downside/label | None | Other acquisition purchase cash |
| /operating_model/cells/downside_2027q1_new_acquisition:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_new_acquisition:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_new_acquisition:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q1_operating_cash_uses:downside/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/downside_2027q1_operating_cash_uses:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_operating_cash_uses:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q1_operating_cash_uses:downside/formula/refs/0 | None | downside_2027q1_dfc_interest |
| /operating_model/cells/downside_2027q1_operating_cash_uses:downside/formula/refs/1 | None | downside_2027q1_cash_tax |
| /operating_model/cells/downside_2027q1_operating_cash_uses:downside/formula/refs/2 | None | downside_2027q1_working_capital |
| /operating_model/cells/downside_2027q1_operating_cash_uses:downside/id | None | downside_2027q1_operating_cash_uses |
| /operating_model/cells/downside_2027q1_operating_cash_uses:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_operating_cash_uses:downside/label | None | Interest tax and working-capital use |
| /operating_model/cells/downside_2027q1_operating_cash_uses:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_operating_cash_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_operating_cash_uses:downside/value | None | 32.8125 |
| /operating_model/cells/downside_2027q1_operating_costs:downside/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/downside_2027q1_operating_costs:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_operating_costs:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q1_operating_costs:downside/formula/refs/0 | None | downside_2027q1_cash_overhead |
| /operating_model/cells/downside_2027q1_operating_costs:downside/formula/refs/1 | None | downside_2027q1_royalty_cash |
| /operating_model/cells/downside_2027q1_operating_costs:downside/formula/refs/2 | None | downside_2027q1_da |
| /operating_model/cells/downside_2027q1_operating_costs:downside/formula/refs/3 | None | downside_2027q1_sbc |
| /operating_model/cells/downside_2027q1_operating_costs:downside/formula/refs/4 | None | downside_2027q1_transaction_cost |
| /operating_model/cells/downside_2027q1_operating_costs:downside/id | None | downside_2027q1_operating_costs |
| /operating_model/cells/downside_2027q1_operating_costs:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_operating_costs:downside/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/downside_2027q1_operating_costs:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_operating_costs:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_operating_costs:downside/value | None | 83.9937625 |
| /operating_model/cells/downside_2027q1_operating_income:downside/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/downside_2027q1_operating_income:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_operating_income:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q1_operating_income:downside/formula/refs/0 | None | downside_2027q1_gross_contribution |
| /operating_model/cells/downside_2027q1_operating_income:downside/formula/refs/1 | None | downside_2027q1_operating_costs |
| /operating_model/cells/downside_2027q1_operating_income:downside/id | None | downside_2027q1_operating_income |
| /operating_model/cells/downside_2027q1_operating_income:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_operating_income:downside/label | None | Operating income proxy |
| /operating_model/cells/downside_2027q1_operating_income:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_operating_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_operating_income:downside/value | None | -96.0725125 |
| /operating_model/cells/downside_2027q1_other_investing:downside/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/downside_2027q1_other_investing:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_other_investing:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q1_other_investing:downside/formula/refs/0 | None | downside_2027q1_acquisition_cash |
| /operating_model/cells/downside_2027q1_other_investing:downside/formula/refs/1 | None | downside_2027q1_minority_investment |
| /operating_model/cells/downside_2027q1_other_investing:downside/id | None | downside_2027q1_other_investing |
| /operating_model/cells/downside_2027q1_other_investing:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_other_investing:downside/label | None | Acquisition and minority cash |
| /operating_model/cells/downside_2027q1_other_investing:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_other_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_other_investing:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q1_ownership_fraction:downside/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/downside_2027q1_ownership_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_ownership_fraction:downside/id | None | downside_2027q1_ownership_fraction |
| /operating_model/cells/downside_2027q1_ownership_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_ownership_fraction:downside/label | None | Consolidated fraction of quarter |
| /operating_model/cells/downside_2027q1_ownership_fraction:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_ownership_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q1_ownership_fraction:downside/value | None | 1.0 |
| /operating_model/cells/downside_2027q1_quarter_fraction:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_quarter_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_quarter_fraction:downside/id | None | downside_2027q1_quarter_fraction |
| /operating_model/cells/downside_2027q1_quarter_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_quarter_fraction:downside/label | None | Annual-to-quarter fraction |
| /operating_model/cells/downside_2027q1_quarter_fraction:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_quarter_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q1_quarter_fraction:downside/value | None | 0.25 |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/formula/refs/0 | None | downside_2027q1_average_capacity |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/formula/refs/1 | None | downside_2027q1_quarter_fraction |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/formula/refs/2 | None | downside_2027q1_mine_utilization |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/formula/refs/3 | None | downside_2027q1_ownership_fraction |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/id | None | downside_2027q1_recognized_tonnes |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q1_recognized_tonnes:downside/value | None | 427.5 |
| /operating_model/cells/downside_2027q1_revenue:downside/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/downside_2027q1_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q1_revenue:downside/formula/refs/0 | None | downside_2027q1_legacy_revenue |
| /operating_model/cells/downside_2027q1_revenue:downside/formula/refs/1 | None | downside_2027q1_mine_revenue |
| /operating_model/cells/downside_2027q1_revenue:downside/formula/refs/2 | None | downside_2027q1_magnet_revenue |
| /operating_model/cells/downside_2027q1_revenue:downside/id | None | downside_2027q1_revenue |
| /operating_model/cells/downside_2027q1_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_revenue:downside/label | None | Consolidated revenue |
| /operating_model/cells/downside_2027q1_revenue:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_revenue:downside/value | None | 17.705000000000002 |
| /operating_model/cells/downside_2027q1_royalty_cash:downside/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/downside_2027q1_royalty_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_royalty_cash:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q1_royalty_cash:downside/formula/refs/0 | None | downside_2027q1_royalty_variable |
| /operating_model/cells/downside_2027q1_royalty_cash:downside/formula/refs/1 | None | downside_2027q1_royalty_topup |
| /operating_model/cells/downside_2027q1_royalty_cash:downside/id | None | downside_2027q1_royalty_cash |
| /operating_model/cells/downside_2027q1_royalty_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_royalty_cash:downside/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/downside_2027q1_royalty_cash:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_royalty_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_royalty_cash:downside/value | None | 5.4937625 |
| /operating_model/cells/downside_2027q1_royalty_topup:downside/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/downside_2027q1_royalty_topup:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_royalty_topup:downside/id | None | downside_2027q1_royalty_topup |
| /operating_model/cells/downside_2027q1_royalty_topup:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_royalty_topup:downside/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/downside_2027q1_royalty_topup:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_royalty_topup:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_royalty_topup:downside/value | None | 5.0 |
| /operating_model/cells/downside_2027q1_royalty_variable:downside/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/downside_2027q1_royalty_variable:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_royalty_variable:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q1_royalty_variable:downside/formula/refs/0 | None | downside_2027q1_mine_revenue |
| /operating_model/cells/downside_2027q1_royalty_variable:downside/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/downside_2027q1_royalty_variable:downside/id | None | downside_2027q1_royalty_variable |
| /operating_model/cells/downside_2027q1_royalty_variable:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_royalty_variable:downside/label | None | Variable mine royalty |
| /operating_model/cells/downside_2027q1_royalty_variable:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_royalty_variable:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_royalty_variable:downside/value | None | 0.49376249999999994 |
| /operating_model/cells/downside_2027q1_sbc:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_sbc:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_sbc:downside/id | None | downside_2027q1_sbc |
| /operating_model/cells/downside_2027q1_sbc:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_sbc:downside/label | None | Operating SBC |
| /operating_model/cells/downside_2027q1_sbc:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_sbc:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_sbc:downside/value | None | 10.0 |
| /operating_model/cells/downside_2027q1_transaction_cost:downside/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/downside_2027q1_transaction_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_transaction_cost:downside/id | None | downside_2027q1_transaction_cost |
| /operating_model/cells/downside_2027q1_transaction_cost:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_transaction_cost:downside/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/downside_2027q1_transaction_cost:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_transaction_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_transaction_cost:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q1_treasury_income:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_treasury_income:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_treasury_income:downside/id | None | downside_2027q1_treasury_income |
| /operating_model/cells/downside_2027q1_treasury_income:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_treasury_income:downside/label | None | Cash treasury income |
| /operating_model/cells/downside_2027q1_treasury_income:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_treasury_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_treasury_income:downside/value | None | 7.0 |
| /operating_model/cells/downside_2027q1_treo_price:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_treo_price:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_treo_price:downside/id | None | downside_2027q1_treo_price |
| /operating_model/cells/downside_2027q1_treo_price:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_treo_price:downside/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/downside_2027q1_treo_price:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_treo_price:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_treo_price:downside/value | None | 0.022 |
| /operating_model/cells/downside_2027q1_working_capital:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q1_working_capital:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_working_capital:downside/id | None | downside_2027q1_working_capital |
| /operating_model/cells/downside_2027q1_working_capital:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_working_capital:downside/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/downside_2027q1_working_capital:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_working_capital:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_working_capital:downside/value | None | 25.0 |
| /operating_model/cells/downside_2027q2_acquired_cash:downside/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/downside_2027q2_acquired_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_acquired_cash:downside/id | None | downside_2027q2_acquired_cash |
| /operating_model/cells/downside_2027q2_acquired_cash:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_acquired_cash:downside/label | None | Cash acquired at closing |
| /operating_model/cells/downside_2027q2_acquired_cash:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_acquired_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_acquired_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q2_acquisition_cash:downside/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/downside_2027q2_acquisition_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_acquisition_cash:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q2_acquisition_cash:downside/formula/refs/0 | None | downside_2027q2_new_acquisition |
| /operating_model/cells/downside_2027q2_acquisition_cash:downside/formula/refs/1 | None | downside_2027q2_acquired_cash |
| /operating_model/cells/downside_2027q2_acquisition_cash:downside/id | None | downside_2027q2_acquisition_cash |
| /operating_model/cells/downside_2027q2_acquisition_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_acquisition_cash:downside/label | None | Net acquisition cash |
| /operating_model/cells/downside_2027q2_acquisition_cash:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_acquisition_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_acquisition_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q2_average_capacity:downside/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/downside_2027q2_average_capacity:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_average_capacity:downside/id | None | downside_2027q2_average_capacity |
| /operating_model/cells/downside_2027q2_average_capacity:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_average_capacity:downside/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/downside_2027q2_average_capacity:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_average_capacity:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q2_average_capacity:downside/value | None | 4000.0 |
| /operating_model/cells/downside_2027q2_capex:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_capex:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_capex:downside/id | None | downside_2027q2_capex |
| /operating_model/cells/downside_2027q2_capex:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_capex:downside/label | None | Cash capex and equipment deposits |
| /operating_model/cells/downside_2027q2_capex:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_capex:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_capex:downside/value | None | 180.0 |
| /operating_model/cells/downside_2027q2_cash_after_investing:downside/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/downside_2027q2_cash_after_investing:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_cash_after_investing:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q2_cash_after_investing:downside/formula/refs/0 | None | downside_2027q2_fcf |
| /operating_model/cells/downside_2027q2_cash_after_investing:downside/formula/refs/1 | None | downside_2027q2_other_investing |
| /operating_model/cells/downside_2027q2_cash_after_investing:downside/id | None | downside_2027q2_cash_after_investing |
| /operating_model/cells/downside_2027q2_cash_after_investing:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_cash_after_investing:downside/label | None | Cash after business investing |
| /operating_model/cells/downside_2027q2_cash_after_investing:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_cash_after_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_cash_after_investing:downside/value | None | -323.0775 |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/formula/refs/0 | None | downside_2027q2_operating_income |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/formula/refs/1 | None | downside_2027q2_da |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/formula/refs/2 | None | downside_2027q2_sbc |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/formula/refs/3 | None | downside_2027q2_treasury_income |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/id | None | downside_2027q2_cash_earnings |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_cash_earnings:downside/value | None | -72.86500000000001 |
| /operating_model/cells/downside_2027q2_cash_overhead:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_cash_overhead:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_cash_overhead:downside/id | None | downside_2027q2_cash_overhead |
| /operating_model/cells/downside_2027q2_cash_overhead:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_cash_overhead:downside/label | None | Cash SG&A and development |
| /operating_model/cells/downside_2027q2_cash_overhead:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_cash_overhead:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_cash_overhead:downside/value | None | 61.25 |
| /operating_model/cells/downside_2027q2_cash_tax:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_cash_tax:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_cash_tax:downside/id | None | downside_2027q2_cash_tax |
| /operating_model/cells/downside_2027q2_cash_tax:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_cash_tax:downside/label | None | Cash taxes |
| /operating_model/cells/downside_2027q2_cash_tax:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_cash_tax:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_cash_tax:downside/value | None | 0.5 |
| /operating_model/cells/downside_2027q2_cfo:downside/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/downside_2027q2_cfo:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_cfo:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q2_cfo:downside/formula/refs/0 | None | downside_2027q2_cash_earnings |
| /operating_model/cells/downside_2027q2_cfo:downside/formula/refs/1 | None | downside_2027q2_operating_cash_uses |
| /operating_model/cells/downside_2027q2_cfo:downside/id | None | downside_2027q2_cfo |
| /operating_model/cells/downside_2027q2_cfo:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_cfo:downside/label | None | Operating cash flow proxy |
| /operating_model/cells/downside_2027q2_cfo:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_cfo:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_cfo:downside/value | None | -110.67750000000001 |
| /operating_model/cells/downside_2027q2_da:downside/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/downside_2027q2_da:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_da:downside/id | None | downside_2027q2_da |
| /operating_model/cells/downside_2027q2_da:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_da:downside/label | None | Consolidated operating D&A |
| /operating_model/cells/downside_2027q2_da:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_da:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_da:downside/value | None | 14.0 |
| /operating_model/cells/downside_2027q2_dfc_interest:downside/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/downside_2027q2_dfc_interest:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_dfc_interest:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q2_dfc_interest:downside/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/downside_2027q2_dfc_interest:downside/formula/refs/1 | None | downside_2027q2_dfc_rate |
| /operating_model/cells/downside_2027q2_dfc_interest:downside/formula/refs/2 | None | downside_2027q2_interest_fraction |
| /operating_model/cells/downside_2027q2_dfc_interest:downside/id | None | downside_2027q2_dfc_interest |
| /operating_model/cells/downside_2027q2_dfc_interest:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_dfc_interest:downside/label | None | DFC cash coupon proxy |
| /operating_model/cells/downside_2027q2_dfc_interest:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_dfc_interest:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_dfc_interest:downside/value | None | 7.3125 |
| /operating_model/cells/downside_2027q2_dfc_rate:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_dfc_rate:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_dfc_rate:downside/id | None | downside_2027q2_dfc_rate |
| /operating_model/cells/downside_2027q2_dfc_rate:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_dfc_rate:downside/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/downside_2027q2_dfc_rate:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_dfc_rate:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q2_dfc_rate:downside/value | None | 0.09 |
| /operating_model/cells/downside_2027q2_fcf:downside/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/downside_2027q2_fcf:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_fcf:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q2_fcf:downside/formula/refs/0 | None | downside_2027q2_cfo |
| /operating_model/cells/downside_2027q2_fcf:downside/formula/refs/1 | None | downside_2027q2_capex |
| /operating_model/cells/downside_2027q2_fcf:downside/id | None | downside_2027q2_fcf |
| /operating_model/cells/downside_2027q2_fcf:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_fcf:downside/label | None | CFO less cash capital investment |
| /operating_model/cells/downside_2027q2_fcf:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_fcf:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_fcf:downside/value | None | -290.6775 |
| /operating_model/cells/downside_2027q2_gross_contribution:downside/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/downside_2027q2_gross_contribution:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_gross_contribution:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q2_gross_contribution:downside/formula/refs/0 | None | downside_2027q2_legacy_gross |
| /operating_model/cells/downside_2027q2_gross_contribution:downside/formula/refs/1 | None | downside_2027q2_mine_gross |
| /operating_model/cells/downside_2027q2_gross_contribution:downside/formula/refs/2 | None | downside_2027q2_magnet_gross |
| /operating_model/cells/downside_2027q2_gross_contribution:downside/id | None | downside_2027q2_gross_contribution |
| /operating_model/cells/downside_2027q2_gross_contribution:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_gross_contribution:downside/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/downside_2027q2_gross_contribution:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_gross_contribution:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_gross_contribution:downside/value | None | -12.037500000000001 |
| /operating_model/cells/downside_2027q2_interest_fraction:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_interest_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_interest_fraction:downside/id | None | downside_2027q2_interest_fraction |
| /operating_model/cells/downside_2027q2_interest_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_interest_fraction:downside/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/downside_2027q2_interest_fraction:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_interest_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q2_interest_fraction:downside/value | None | 0.25 |
| /operating_model/cells/downside_2027q2_legacy_gross:downside/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/downside_2027q2_legacy_gross:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_legacy_gross:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q2_legacy_gross:downside/formula/refs/0 | None | downside_2027q2_legacy_revenue |
| /operating_model/cells/downside_2027q2_legacy_gross:downside/formula/refs/1 | None | downside_2027q2_legacy_margin |
| /operating_model/cells/downside_2027q2_legacy_gross:downside/id | None | downside_2027q2_legacy_gross |
| /operating_model/cells/downside_2027q2_legacy_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_legacy_gross:downside/label | None | Legacy cash gross contribution |
| /operating_model/cells/downside_2027q2_legacy_gross:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_legacy_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_legacy_gross:downside/value | None | 0.6 |
| /operating_model/cells/downside_2027q2_legacy_margin:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_legacy_margin:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_legacy_margin:downside/id | None | downside_2027q2_legacy_margin |
| /operating_model/cells/downside_2027q2_legacy_margin:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_legacy_margin:downside/label | None | Legacy margin before D&A |
| /operating_model/cells/downside_2027q2_legacy_margin:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_legacy_margin:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q2_legacy_margin:downside/value | None | 0.08 |
| /operating_model/cells/downside_2027q2_legacy_revenue:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_legacy_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_legacy_revenue:downside/id | None | downside_2027q2_legacy_revenue |
| /operating_model/cells/downside_2027q2_legacy_revenue:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_legacy_revenue:downside/label | None | Legacy alloy and services revenue |
| /operating_model/cells/downside_2027q2_legacy_revenue:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_legacy_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_legacy_revenue:downside/value | None | 7.5 |
| /operating_model/cells/downside_2027q2_magnet_gross:downside/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/downside_2027q2_magnet_gross:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_magnet_gross:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q2_magnet_gross:downside/formula/refs/0 | None | downside_2027q2_magnet_revenue |
| /operating_model/cells/downside_2027q2_magnet_gross:downside/formula/refs/1 | None | downside_2027q2_magnet_margin |
| /operating_model/cells/downside_2027q2_magnet_gross:downside/id | None | downside_2027q2_magnet_gross |
| /operating_model/cells/downside_2027q2_magnet_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_magnet_gross:downside/label | None | Magnet ramp cash contribution |
| /operating_model/cells/downside_2027q2_magnet_gross:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_magnet_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_magnet_gross:downside/value | None | -1.1375000000000004 |
| /operating_model/cells/downside_2027q2_magnet_margin:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_magnet_margin:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_magnet_margin:downside/id | None | downside_2027q2_magnet_margin |
| /operating_model/cells/downside_2027q2_magnet_margin:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_magnet_margin:downside/label | None | Magnet cash gross margin |
| /operating_model/cells/downside_2027q2_magnet_margin:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_magnet_margin:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q2_magnet_margin:downside/value | None | -0.4375000000000001 |
| /operating_model/cells/downside_2027q2_magnet_price:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_magnet_price:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_magnet_price:downside/id | None | downside_2027q2_magnet_price |
| /operating_model/cells/downside_2027q2_magnet_price:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_magnet_price:downside/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/downside_2027q2_magnet_price:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_magnet_price:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_magnet_price:downside/value | None | 0.052 |
| /operating_model/cells/downside_2027q2_magnet_revenue:downside/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/downside_2027q2_magnet_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_magnet_revenue:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q2_magnet_revenue:downside/formula/refs/0 | None | downside_2027q2_magnet_tonnes |
| /operating_model/cells/downside_2027q2_magnet_revenue:downside/formula/refs/1 | None | downside_2027q2_magnet_price |
| /operating_model/cells/downside_2027q2_magnet_revenue:downside/id | None | downside_2027q2_magnet_revenue |
| /operating_model/cells/downside_2027q2_magnet_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_magnet_revenue:downside/label | None | Accepted magnet sales |
| /operating_model/cells/downside_2027q2_magnet_revenue:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_magnet_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_magnet_revenue:downside/value | None | 2.6 |
| /operating_model/cells/downside_2027q2_magnet_tonnes:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_magnet_tonnes:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_magnet_tonnes:downside/id | None | downside_2027q2_magnet_tonnes |
| /operating_model/cells/downside_2027q2_magnet_tonnes:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_magnet_tonnes:downside/label | None | Accepted external magnet tonnes |
| /operating_model/cells/downside_2027q2_magnet_tonnes:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_magnet_tonnes:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q2_magnet_tonnes:downside/value | None | 50.0 |
| /operating_model/cells/downside_2027q2_mine_cash_cost:downside/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/downside_2027q2_mine_cash_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_mine_cash_cost:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q2_mine_cash_cost:downside/formula/refs/0 | None | downside_2027q2_mine_variable_cost |
| /operating_model/cells/downside_2027q2_mine_cash_cost:downside/formula/refs/1 | None | downside_2027q2_mine_fixed_cost |
| /operating_model/cells/downside_2027q2_mine_cash_cost:downside/id | None | downside_2027q2_mine_cash_cost |
| /operating_model/cells/downside_2027q2_mine_cash_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_mine_cash_cost:downside/label | None | Mine cash production cost |
| /operating_model/cells/downside_2027q2_mine_cash_cost:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_mine_cash_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_mine_cash_cost:downside/value | None | 22.5 |
| /operating_model/cells/downside_2027q2_mine_fixed_cost:downside/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/downside_2027q2_mine_fixed_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_mine_fixed_cost:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q2_mine_fixed_cost:downside/formula/refs/0 | None | downside_2027q2_mine_fixed_full |
| /operating_model/cells/downside_2027q2_mine_fixed_cost:downside/formula/refs/1 | None | downside_2027q2_ownership_fraction |
| /operating_model/cells/downside_2027q2_mine_fixed_cost:downside/id | None | downside_2027q2_mine_fixed_cost |
| /operating_model/cells/downside_2027q2_mine_fixed_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_mine_fixed_cost:downside/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/downside_2027q2_mine_fixed_cost:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_mine_fixed_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_mine_fixed_cost:downside/value | None | 13.75 |
| /operating_model/cells/downside_2027q2_mine_fixed_full:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_mine_fixed_full:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_mine_fixed_full:downside/id | None | downside_2027q2_mine_fixed_full |
| /operating_model/cells/downside_2027q2_mine_fixed_full:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_mine_fixed_full:downside/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/downside_2027q2_mine_fixed_full:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_mine_fixed_full:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_mine_fixed_full:downside/value | None | 13.75 |
| /operating_model/cells/downside_2027q2_mine_gross:downside/basis | None | Royalty below contribution. |
| /operating_model/cells/downside_2027q2_mine_gross:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_mine_gross:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q2_mine_gross:downside/formula/refs/0 | None | downside_2027q2_mine_revenue |
| /operating_model/cells/downside_2027q2_mine_gross:downside/formula/refs/1 | None | downside_2027q2_mine_cash_cost |
| /operating_model/cells/downside_2027q2_mine_gross:downside/id | None | downside_2027q2_mine_gross |
| /operating_model/cells/downside_2027q2_mine_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_mine_gross:downside/label | None | Mine revenue less cash production |
| /operating_model/cells/downside_2027q2_mine_gross:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_mine_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_mine_gross:downside/value | None | -11.5 |
| /operating_model/cells/downside_2027q2_mine_revenue:downside/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/downside_2027q2_mine_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_mine_revenue:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q2_mine_revenue:downside/formula/refs/0 | None | downside_2027q2_recognized_tonnes |
| /operating_model/cells/downside_2027q2_mine_revenue:downside/formula/refs/1 | None | downside_2027q2_treo_price |
| /operating_model/cells/downside_2027q2_mine_revenue:downside/id | None | downside_2027q2_mine_revenue |
| /operating_model/cells/downside_2027q2_mine_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_mine_revenue:downside/label | None | Post-close TREO revenue |
| /operating_model/cells/downside_2027q2_mine_revenue:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_mine_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_mine_revenue:downside/value | None | 11.0 |
| /operating_model/cells/downside_2027q2_mine_unit_cost:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_mine_unit_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_mine_unit_cost:downside/id | None | downside_2027q2_mine_unit_cost |
| /operating_model/cells/downside_2027q2_mine_unit_cost:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_mine_unit_cost:downside/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/downside_2027q2_mine_unit_cost:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_mine_unit_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_mine_unit_cost:downside/value | None | 0.0175 |
| /operating_model/cells/downside_2027q2_mine_utilization:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_mine_utilization:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_mine_utilization:downside/id | None | downside_2027q2_mine_utilization |
| /operating_model/cells/downside_2027q2_mine_utilization:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_mine_utilization:downside/label | None | Capacity to recognized sales factor |
| /operating_model/cells/downside_2027q2_mine_utilization:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_mine_utilization:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q2_mine_utilization:downside/value | None | 0.5 |
| /operating_model/cells/downside_2027q2_mine_variable_cost:downside/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/downside_2027q2_mine_variable_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_mine_variable_cost:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q2_mine_variable_cost:downside/formula/refs/0 | None | downside_2027q2_recognized_tonnes |
| /operating_model/cells/downside_2027q2_mine_variable_cost:downside/formula/refs/1 | None | downside_2027q2_mine_unit_cost |
| /operating_model/cells/downside_2027q2_mine_variable_cost:downside/id | None | downside_2027q2_mine_variable_cost |
| /operating_model/cells/downside_2027q2_mine_variable_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_mine_variable_cost:downside/label | None | Variable mine cash cost |
| /operating_model/cells/downside_2027q2_mine_variable_cost:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_mine_variable_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_mine_variable_cost:downside/value | None | 8.75 |
| /operating_model/cells/downside_2027q2_minority_investment:downside/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/downside_2027q2_minority_investment:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_minority_investment:downside/id | None | downside_2027q2_minority_investment |
| /operating_model/cells/downside_2027q2_minority_investment:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_minority_investment:downside/label | None | Carester minority investment cash |
| /operating_model/cells/downside_2027q2_minority_investment:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_minority_investment:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_minority_investment:downside/value | None | 32.4 |
| /operating_model/cells/downside_2027q2_new_acquisition:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_new_acquisition:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_new_acquisition:downside/id | None | downside_2027q2_new_acquisition |
| /operating_model/cells/downside_2027q2_new_acquisition:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_new_acquisition:downside/label | None | Other acquisition purchase cash |
| /operating_model/cells/downside_2027q2_new_acquisition:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_new_acquisition:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_new_acquisition:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q2_operating_cash_uses:downside/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/downside_2027q2_operating_cash_uses:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_operating_cash_uses:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q2_operating_cash_uses:downside/formula/refs/0 | None | downside_2027q2_dfc_interest |
| /operating_model/cells/downside_2027q2_operating_cash_uses:downside/formula/refs/1 | None | downside_2027q2_cash_tax |
| /operating_model/cells/downside_2027q2_operating_cash_uses:downside/formula/refs/2 | None | downside_2027q2_working_capital |
| /operating_model/cells/downside_2027q2_operating_cash_uses:downside/id | None | downside_2027q2_operating_cash_uses |
| /operating_model/cells/downside_2027q2_operating_cash_uses:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_operating_cash_uses:downside/label | None | Interest tax and working-capital use |
| /operating_model/cells/downside_2027q2_operating_cash_uses:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_operating_cash_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_operating_cash_uses:downside/value | None | 37.8125 |
| /operating_model/cells/downside_2027q2_operating_costs:downside/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/downside_2027q2_operating_costs:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_operating_costs:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q2_operating_costs:downside/formula/refs/0 | None | downside_2027q2_cash_overhead |
| /operating_model/cells/downside_2027q2_operating_costs:downside/formula/refs/1 | None | downside_2027q2_royalty_cash |
| /operating_model/cells/downside_2027q2_operating_costs:downside/formula/refs/2 | None | downside_2027q2_da |
| /operating_model/cells/downside_2027q2_operating_costs:downside/formula/refs/3 | None | downside_2027q2_sbc |
| /operating_model/cells/downside_2027q2_operating_costs:downside/formula/refs/4 | None | downside_2027q2_transaction_cost |
| /operating_model/cells/downside_2027q2_operating_costs:downside/id | None | downside_2027q2_operating_costs |
| /operating_model/cells/downside_2027q2_operating_costs:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_operating_costs:downside/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/downside_2027q2_operating_costs:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_operating_costs:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_operating_costs:downside/value | None | 91.8275 |
| /operating_model/cells/downside_2027q2_operating_income:downside/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/downside_2027q2_operating_income:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_operating_income:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q2_operating_income:downside/formula/refs/0 | None | downside_2027q2_gross_contribution |
| /operating_model/cells/downside_2027q2_operating_income:downside/formula/refs/1 | None | downside_2027q2_operating_costs |
| /operating_model/cells/downside_2027q2_operating_income:downside/id | None | downside_2027q2_operating_income |
| /operating_model/cells/downside_2027q2_operating_income:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_operating_income:downside/label | None | Operating income proxy |
| /operating_model/cells/downside_2027q2_operating_income:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_operating_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_operating_income:downside/value | None | -103.86500000000001 |
| /operating_model/cells/downside_2027q2_other_investing:downside/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/downside_2027q2_other_investing:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_other_investing:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q2_other_investing:downside/formula/refs/0 | None | downside_2027q2_acquisition_cash |
| /operating_model/cells/downside_2027q2_other_investing:downside/formula/refs/1 | None | downside_2027q2_minority_investment |
| /operating_model/cells/downside_2027q2_other_investing:downside/id | None | downside_2027q2_other_investing |
| /operating_model/cells/downside_2027q2_other_investing:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_other_investing:downside/label | None | Acquisition and minority cash |
| /operating_model/cells/downside_2027q2_other_investing:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_other_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_other_investing:downside/value | None | 32.4 |
| /operating_model/cells/downside_2027q2_ownership_fraction:downside/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/downside_2027q2_ownership_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_ownership_fraction:downside/id | None | downside_2027q2_ownership_fraction |
| /operating_model/cells/downside_2027q2_ownership_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_ownership_fraction:downside/label | None | Consolidated fraction of quarter |
| /operating_model/cells/downside_2027q2_ownership_fraction:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_ownership_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q2_ownership_fraction:downside/value | None | 1.0 |
| /operating_model/cells/downside_2027q2_quarter_fraction:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_quarter_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_quarter_fraction:downside/id | None | downside_2027q2_quarter_fraction |
| /operating_model/cells/downside_2027q2_quarter_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_quarter_fraction:downside/label | None | Annual-to-quarter fraction |
| /operating_model/cells/downside_2027q2_quarter_fraction:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_quarter_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q2_quarter_fraction:downside/value | None | 0.25 |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/formula/refs/0 | None | downside_2027q2_average_capacity |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/formula/refs/1 | None | downside_2027q2_quarter_fraction |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/formula/refs/2 | None | downside_2027q2_mine_utilization |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/formula/refs/3 | None | downside_2027q2_ownership_fraction |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/id | None | downside_2027q2_recognized_tonnes |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q2_recognized_tonnes:downside/value | None | 500.0 |
| /operating_model/cells/downside_2027q2_revenue:downside/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/downside_2027q2_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q2_revenue:downside/formula/refs/0 | None | downside_2027q2_legacy_revenue |
| /operating_model/cells/downside_2027q2_revenue:downside/formula/refs/1 | None | downside_2027q2_mine_revenue |
| /operating_model/cells/downside_2027q2_revenue:downside/formula/refs/2 | None | downside_2027q2_magnet_revenue |
| /operating_model/cells/downside_2027q2_revenue:downside/id | None | downside_2027q2_revenue |
| /operating_model/cells/downside_2027q2_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_revenue:downside/label | None | Consolidated revenue |
| /operating_model/cells/downside_2027q2_revenue:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_revenue:downside/value | None | 21.1 |
| /operating_model/cells/downside_2027q2_royalty_cash:downside/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/downside_2027q2_royalty_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_royalty_cash:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q2_royalty_cash:downside/formula/refs/0 | None | downside_2027q2_royalty_variable |
| /operating_model/cells/downside_2027q2_royalty_cash:downside/formula/refs/1 | None | downside_2027q2_royalty_topup |
| /operating_model/cells/downside_2027q2_royalty_cash:downside/id | None | downside_2027q2_royalty_cash |
| /operating_model/cells/downside_2027q2_royalty_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_royalty_cash:downside/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/downside_2027q2_royalty_cash:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_royalty_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_royalty_cash:downside/value | None | 5.5775 |
| /operating_model/cells/downside_2027q2_royalty_topup:downside/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/downside_2027q2_royalty_topup:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_royalty_topup:downside/id | None | downside_2027q2_royalty_topup |
| /operating_model/cells/downside_2027q2_royalty_topup:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_royalty_topup:downside/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/downside_2027q2_royalty_topup:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_royalty_topup:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_royalty_topup:downside/value | None | 5.0 |
| /operating_model/cells/downside_2027q2_royalty_variable:downside/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/downside_2027q2_royalty_variable:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_royalty_variable:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q2_royalty_variable:downside/formula/refs/0 | None | downside_2027q2_mine_revenue |
| /operating_model/cells/downside_2027q2_royalty_variable:downside/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/downside_2027q2_royalty_variable:downside/id | None | downside_2027q2_royalty_variable |
| /operating_model/cells/downside_2027q2_royalty_variable:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_royalty_variable:downside/label | None | Variable mine royalty |
| /operating_model/cells/downside_2027q2_royalty_variable:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_royalty_variable:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_royalty_variable:downside/value | None | 0.5775 |
| /operating_model/cells/downside_2027q2_sbc:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_sbc:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_sbc:downside/id | None | downside_2027q2_sbc |
| /operating_model/cells/downside_2027q2_sbc:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_sbc:downside/label | None | Operating SBC |
| /operating_model/cells/downside_2027q2_sbc:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_sbc:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_sbc:downside/value | None | 11.0 |
| /operating_model/cells/downside_2027q2_transaction_cost:downside/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/downside_2027q2_transaction_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_transaction_cost:downside/id | None | downside_2027q2_transaction_cost |
| /operating_model/cells/downside_2027q2_transaction_cost:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_transaction_cost:downside/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/downside_2027q2_transaction_cost:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_transaction_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_transaction_cost:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q2_treasury_income:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_treasury_income:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_treasury_income:downside/id | None | downside_2027q2_treasury_income |
| /operating_model/cells/downside_2027q2_treasury_income:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_treasury_income:downside/label | None | Cash treasury income |
| /operating_model/cells/downside_2027q2_treasury_income:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_treasury_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_treasury_income:downside/value | None | 6.0 |
| /operating_model/cells/downside_2027q2_treo_price:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_treo_price:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_treo_price:downside/id | None | downside_2027q2_treo_price |
| /operating_model/cells/downside_2027q2_treo_price:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_treo_price:downside/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/downside_2027q2_treo_price:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_treo_price:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_treo_price:downside/value | None | 0.022 |
| /operating_model/cells/downside_2027q2_working_capital:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q2_working_capital:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_working_capital:downside/id | None | downside_2027q2_working_capital |
| /operating_model/cells/downside_2027q2_working_capital:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_working_capital:downside/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/downside_2027q2_working_capital:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_working_capital:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_working_capital:downside/value | None | 30.0 |
| /operating_model/cells/downside_2027q3_acquired_cash:downside/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/downside_2027q3_acquired_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_acquired_cash:downside/id | None | downside_2027q3_acquired_cash |
| /operating_model/cells/downside_2027q3_acquired_cash:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_acquired_cash:downside/label | None | Cash acquired at closing |
| /operating_model/cells/downside_2027q3_acquired_cash:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_acquired_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_acquired_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q3_acquisition_cash:downside/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/downside_2027q3_acquisition_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_acquisition_cash:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q3_acquisition_cash:downside/formula/refs/0 | None | downside_2027q3_new_acquisition |
| /operating_model/cells/downside_2027q3_acquisition_cash:downside/formula/refs/1 | None | downside_2027q3_acquired_cash |
| /operating_model/cells/downside_2027q3_acquisition_cash:downside/id | None | downside_2027q3_acquisition_cash |
| /operating_model/cells/downside_2027q3_acquisition_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_acquisition_cash:downside/label | None | Net acquisition cash |
| /operating_model/cells/downside_2027q3_acquisition_cash:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_acquisition_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_acquisition_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q3_average_capacity:downside/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/downside_2027q3_average_capacity:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_average_capacity:downside/id | None | downside_2027q3_average_capacity |
| /operating_model/cells/downside_2027q3_average_capacity:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_average_capacity:downside/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/downside_2027q3_average_capacity:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_average_capacity:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q3_average_capacity:downside/value | None | 4400.0 |
| /operating_model/cells/downside_2027q3_capex:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_capex:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_capex:downside/id | None | downside_2027q3_capex |
| /operating_model/cells/downside_2027q3_capex:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_capex:downside/label | None | Cash capex and equipment deposits |
| /operating_model/cells/downside_2027q3_capex:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_capex:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_capex:downside/value | None | 200.0 |
| /operating_model/cells/downside_2027q3_cash_after_investing:downside/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/downside_2027q3_cash_after_investing:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_cash_after_investing:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q3_cash_after_investing:downside/formula/refs/0 | None | downside_2027q3_fcf |
| /operating_model/cells/downside_2027q3_cash_after_investing:downside/formula/refs/1 | None | downside_2027q3_other_investing |
| /operating_model/cells/downside_2027q3_cash_after_investing:downside/id | None | downside_2027q3_cash_after_investing |
| /operating_model/cells/downside_2027q3_cash_after_investing:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_cash_after_investing:downside/label | None | Cash after business investing |
| /operating_model/cells/downside_2027q3_cash_after_investing:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_cash_after_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_cash_after_investing:downside/value | None | -319.93877499999996 |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/formula/refs/0 | None | downside_2027q3_operating_income |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/formula/refs/1 | None | downside_2027q3_da |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/formula/refs/2 | None | downside_2027q3_sbc |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/formula/refs/3 | None | downside_2027q3_treasury_income |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/id | None | downside_2027q3_cash_earnings |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_cash_earnings:downside/value | None | -77.12627499999999 |
| /operating_model/cells/downside_2027q3_cash_overhead:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_cash_overhead:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_cash_overhead:downside/id | None | downside_2027q3_cash_overhead |
| /operating_model/cells/downside_2027q3_cash_overhead:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_cash_overhead:downside/label | None | Cash SG&A and development |
| /operating_model/cells/downside_2027q3_cash_overhead:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_cash_overhead:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_cash_overhead:downside/value | None | 65.0 |
| /operating_model/cells/downside_2027q3_cash_tax:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_cash_tax:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_cash_tax:downside/id | None | downside_2027q3_cash_tax |
| /operating_model/cells/downside_2027q3_cash_tax:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_cash_tax:downside/label | None | Cash taxes |
| /operating_model/cells/downside_2027q3_cash_tax:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_cash_tax:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_cash_tax:downside/value | None | 0.5 |
| /operating_model/cells/downside_2027q3_cfo:downside/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/downside_2027q3_cfo:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_cfo:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q3_cfo:downside/formula/refs/0 | None | downside_2027q3_cash_earnings |
| /operating_model/cells/downside_2027q3_cfo:downside/formula/refs/1 | None | downside_2027q3_operating_cash_uses |
| /operating_model/cells/downside_2027q3_cfo:downside/id | None | downside_2027q3_cfo |
| /operating_model/cells/downside_2027q3_cfo:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_cfo:downside/label | None | Operating cash flow proxy |
| /operating_model/cells/downside_2027q3_cfo:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_cfo:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_cfo:downside/value | None | -119.93877499999999 |
| /operating_model/cells/downside_2027q3_da:downside/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/downside_2027q3_da:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_da:downside/id | None | downside_2027q3_da |
| /operating_model/cells/downside_2027q3_da:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_da:downside/label | None | Consolidated operating D&A |
| /operating_model/cells/downside_2027q3_da:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_da:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_da:downside/value | None | 17.0 |
| /operating_model/cells/downside_2027q3_dfc_interest:downside/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/downside_2027q3_dfc_interest:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_dfc_interest:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q3_dfc_interest:downside/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/downside_2027q3_dfc_interest:downside/formula/refs/1 | None | downside_2027q3_dfc_rate |
| /operating_model/cells/downside_2027q3_dfc_interest:downside/formula/refs/2 | None | downside_2027q3_interest_fraction |
| /operating_model/cells/downside_2027q3_dfc_interest:downside/id | None | downside_2027q3_dfc_interest |
| /operating_model/cells/downside_2027q3_dfc_interest:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_dfc_interest:downside/label | None | DFC cash coupon proxy |
| /operating_model/cells/downside_2027q3_dfc_interest:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_dfc_interest:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_dfc_interest:downside/value | None | 7.3125 |
| /operating_model/cells/downside_2027q3_dfc_rate:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_dfc_rate:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_dfc_rate:downside/id | None | downside_2027q3_dfc_rate |
| /operating_model/cells/downside_2027q3_dfc_rate:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_dfc_rate:downside/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/downside_2027q3_dfc_rate:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_dfc_rate:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q3_dfc_rate:downside/value | None | 0.09 |
| /operating_model/cells/downside_2027q3_fcf:downside/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/downside_2027q3_fcf:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_fcf:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q3_fcf:downside/formula/refs/0 | None | downside_2027q3_cfo |
| /operating_model/cells/downside_2027q3_fcf:downside/formula/refs/1 | None | downside_2027q3_capex |
| /operating_model/cells/downside_2027q3_fcf:downside/id | None | downside_2027q3_fcf |
| /operating_model/cells/downside_2027q3_fcf:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_fcf:downside/label | None | CFO less cash capital investment |
| /operating_model/cells/downside_2027q3_fcf:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_fcf:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_fcf:downside/value | None | -319.93877499999996 |
| /operating_model/cells/downside_2027q3_gross_contribution:downside/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/downside_2027q3_gross_contribution:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_gross_contribution:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q3_gross_contribution:downside/formula/refs/0 | None | downside_2027q3_legacy_gross |
| /operating_model/cells/downside_2027q3_gross_contribution:downside/formula/refs/1 | None | downside_2027q3_mine_gross |
| /operating_model/cells/downside_2027q3_gross_contribution:downside/formula/refs/2 | None | downside_2027q3_magnet_gross |
| /operating_model/cells/downside_2027q3_gross_contribution:downside/id | None | downside_2027q3_gross_contribution |
| /operating_model/cells/downside_2027q3_gross_contribution:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_gross_contribution:downside/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/downside_2027q3_gross_contribution:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_gross_contribution:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_gross_contribution:downside/value | None | -11.4275 |
| /operating_model/cells/downside_2027q3_interest_fraction:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_interest_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_interest_fraction:downside/id | None | downside_2027q3_interest_fraction |
| /operating_model/cells/downside_2027q3_interest_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_interest_fraction:downside/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/downside_2027q3_interest_fraction:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_interest_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q3_interest_fraction:downside/value | None | 0.25 |
| /operating_model/cells/downside_2027q3_legacy_gross:downside/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/downside_2027q3_legacy_gross:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_legacy_gross:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q3_legacy_gross:downside/formula/refs/0 | None | downside_2027q3_legacy_revenue |
| /operating_model/cells/downside_2027q3_legacy_gross:downside/formula/refs/1 | None | downside_2027q3_legacy_margin |
| /operating_model/cells/downside_2027q3_legacy_gross:downside/id | None | downside_2027q3_legacy_gross |
| /operating_model/cells/downside_2027q3_legacy_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_legacy_gross:downside/label | None | Legacy cash gross contribution |
| /operating_model/cells/downside_2027q3_legacy_gross:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_legacy_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_legacy_gross:downside/value | None | 0.64 |
| /operating_model/cells/downside_2027q3_legacy_margin:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_legacy_margin:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_legacy_margin:downside/id | None | downside_2027q3_legacy_margin |
| /operating_model/cells/downside_2027q3_legacy_margin:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_legacy_margin:downside/label | None | Legacy margin before D&A |
| /operating_model/cells/downside_2027q3_legacy_margin:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_legacy_margin:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q3_legacy_margin:downside/value | None | 0.08 |
| /operating_model/cells/downside_2027q3_legacy_revenue:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_legacy_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_legacy_revenue:downside/id | None | downside_2027q3_legacy_revenue |
| /operating_model/cells/downside_2027q3_legacy_revenue:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_legacy_revenue:downside/label | None | Legacy alloy and services revenue |
| /operating_model/cells/downside_2027q3_legacy_revenue:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_legacy_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_legacy_revenue:downside/value | None | 8.0 |
| /operating_model/cells/downside_2027q3_magnet_gross:downside/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/downside_2027q3_magnet_gross:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_magnet_gross:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q3_magnet_gross:downside/formula/refs/0 | None | downside_2027q3_magnet_revenue |
| /operating_model/cells/downside_2027q3_magnet_gross:downside/formula/refs/1 | None | downside_2027q3_magnet_margin |
| /operating_model/cells/downside_2027q3_magnet_gross:downside/id | None | downside_2027q3_magnet_gross |
| /operating_model/cells/downside_2027q3_magnet_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_magnet_gross:downside/label | None | Magnet ramp cash contribution |
| /operating_model/cells/downside_2027q3_magnet_gross:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_magnet_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_magnet_gross:downside/value | None | -1.0400000000000005 |
| /operating_model/cells/downside_2027q3_magnet_margin:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_magnet_margin:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_magnet_margin:downside/id | None | downside_2027q3_magnet_margin |
| /operating_model/cells/downside_2027q3_magnet_margin:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_magnet_margin:downside/label | None | Magnet cash gross margin |
| /operating_model/cells/downside_2027q3_magnet_margin:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_magnet_margin:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q3_magnet_margin:downside/value | None | -0.2500000000000001 |
| /operating_model/cells/downside_2027q3_magnet_price:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_magnet_price:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_magnet_price:downside/id | None | downside_2027q3_magnet_price |
| /operating_model/cells/downside_2027q3_magnet_price:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_magnet_price:downside/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/downside_2027q3_magnet_price:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_magnet_price:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_magnet_price:downside/value | None | 0.052 |
| /operating_model/cells/downside_2027q3_magnet_revenue:downside/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/downside_2027q3_magnet_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_magnet_revenue:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q3_magnet_revenue:downside/formula/refs/0 | None | downside_2027q3_magnet_tonnes |
| /operating_model/cells/downside_2027q3_magnet_revenue:downside/formula/refs/1 | None | downside_2027q3_magnet_price |
| /operating_model/cells/downside_2027q3_magnet_revenue:downside/id | None | downside_2027q3_magnet_revenue |
| /operating_model/cells/downside_2027q3_magnet_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_magnet_revenue:downside/label | None | Accepted magnet sales |
| /operating_model/cells/downside_2027q3_magnet_revenue:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_magnet_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_magnet_revenue:downside/value | None | 4.16 |
| /operating_model/cells/downside_2027q3_magnet_tonnes:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_magnet_tonnes:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_magnet_tonnes:downside/id | None | downside_2027q3_magnet_tonnes |
| /operating_model/cells/downside_2027q3_magnet_tonnes:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_magnet_tonnes:downside/label | None | Accepted external magnet tonnes |
| /operating_model/cells/downside_2027q3_magnet_tonnes:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_magnet_tonnes:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q3_magnet_tonnes:downside/value | None | 80.0 |
| /operating_model/cells/downside_2027q3_mine_cash_cost:downside/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/downside_2027q3_mine_cash_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_mine_cash_cost:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q3_mine_cash_cost:downside/formula/refs/0 | None | downside_2027q3_mine_variable_cost |
| /operating_model/cells/downside_2027q3_mine_cash_cost:downside/formula/refs/1 | None | downside_2027q3_mine_fixed_cost |
| /operating_model/cells/downside_2027q3_mine_cash_cost:downside/id | None | downside_2027q3_mine_cash_cost |
| /operating_model/cells/downside_2027q3_mine_cash_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_mine_cash_cost:downside/label | None | Mine cash production cost |
| /operating_model/cells/downside_2027q3_mine_cash_cost:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_mine_cash_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_mine_cash_cost:downside/value | None | 24.3375 |
| /operating_model/cells/downside_2027q3_mine_fixed_cost:downside/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/downside_2027q3_mine_fixed_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_mine_fixed_cost:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q3_mine_fixed_cost:downside/formula/refs/0 | None | downside_2027q3_mine_fixed_full |
| /operating_model/cells/downside_2027q3_mine_fixed_cost:downside/formula/refs/1 | None | downside_2027q3_ownership_fraction |
| /operating_model/cells/downside_2027q3_mine_fixed_cost:downside/id | None | downside_2027q3_mine_fixed_cost |
| /operating_model/cells/downside_2027q3_mine_fixed_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_mine_fixed_cost:downside/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/downside_2027q3_mine_fixed_cost:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_mine_fixed_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_mine_fixed_cost:downside/value | None | 13.75 |
| /operating_model/cells/downside_2027q3_mine_fixed_full:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_mine_fixed_full:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_mine_fixed_full:downside/id | None | downside_2027q3_mine_fixed_full |
| /operating_model/cells/downside_2027q3_mine_fixed_full:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_mine_fixed_full:downside/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/downside_2027q3_mine_fixed_full:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_mine_fixed_full:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_mine_fixed_full:downside/value | None | 13.75 |
| /operating_model/cells/downside_2027q3_mine_gross:downside/basis | None | Royalty below contribution. |
| /operating_model/cells/downside_2027q3_mine_gross:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_mine_gross:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q3_mine_gross:downside/formula/refs/0 | None | downside_2027q3_mine_revenue |
| /operating_model/cells/downside_2027q3_mine_gross:downside/formula/refs/1 | None | downside_2027q3_mine_cash_cost |
| /operating_model/cells/downside_2027q3_mine_gross:downside/id | None | downside_2027q3_mine_gross |
| /operating_model/cells/downside_2027q3_mine_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_mine_gross:downside/label | None | Mine revenue less cash production |
| /operating_model/cells/downside_2027q3_mine_gross:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_mine_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_mine_gross:downside/value | None | -11.0275 |
| /operating_model/cells/downside_2027q3_mine_revenue:downside/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/downside_2027q3_mine_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_mine_revenue:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q3_mine_revenue:downside/formula/refs/0 | None | downside_2027q3_recognized_tonnes |
| /operating_model/cells/downside_2027q3_mine_revenue:downside/formula/refs/1 | None | downside_2027q3_treo_price |
| /operating_model/cells/downside_2027q3_mine_revenue:downside/id | None | downside_2027q3_mine_revenue |
| /operating_model/cells/downside_2027q3_mine_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_mine_revenue:downside/label | None | Post-close TREO revenue |
| /operating_model/cells/downside_2027q3_mine_revenue:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_mine_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_mine_revenue:downside/value | None | 13.309999999999999 |
| /operating_model/cells/downside_2027q3_mine_unit_cost:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_mine_unit_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_mine_unit_cost:downside/id | None | downside_2027q3_mine_unit_cost |
| /operating_model/cells/downside_2027q3_mine_unit_cost:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_mine_unit_cost:downside/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/downside_2027q3_mine_unit_cost:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_mine_unit_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_mine_unit_cost:downside/value | None | 0.0175 |
| /operating_model/cells/downside_2027q3_mine_utilization:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_mine_utilization:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_mine_utilization:downside/id | None | downside_2027q3_mine_utilization |
| /operating_model/cells/downside_2027q3_mine_utilization:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_mine_utilization:downside/label | None | Capacity to recognized sales factor |
| /operating_model/cells/downside_2027q3_mine_utilization:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_mine_utilization:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q3_mine_utilization:downside/value | None | 0.55 |
| /operating_model/cells/downside_2027q3_mine_variable_cost:downside/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/downside_2027q3_mine_variable_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_mine_variable_cost:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q3_mine_variable_cost:downside/formula/refs/0 | None | downside_2027q3_recognized_tonnes |
| /operating_model/cells/downside_2027q3_mine_variable_cost:downside/formula/refs/1 | None | downside_2027q3_mine_unit_cost |
| /operating_model/cells/downside_2027q3_mine_variable_cost:downside/id | None | downside_2027q3_mine_variable_cost |
| /operating_model/cells/downside_2027q3_mine_variable_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_mine_variable_cost:downside/label | None | Variable mine cash cost |
| /operating_model/cells/downside_2027q3_mine_variable_cost:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_mine_variable_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_mine_variable_cost:downside/value | None | 10.5875 |
| /operating_model/cells/downside_2027q3_minority_investment:downside/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/downside_2027q3_minority_investment:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_minority_investment:downside/id | None | downside_2027q3_minority_investment |
| /operating_model/cells/downside_2027q3_minority_investment:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_minority_investment:downside/label | None | Carester minority investment cash |
| /operating_model/cells/downside_2027q3_minority_investment:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_minority_investment:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_minority_investment:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q3_new_acquisition:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_new_acquisition:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_new_acquisition:downside/id | None | downside_2027q3_new_acquisition |
| /operating_model/cells/downside_2027q3_new_acquisition:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_new_acquisition:downside/label | None | Other acquisition purchase cash |
| /operating_model/cells/downside_2027q3_new_acquisition:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_new_acquisition:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_new_acquisition:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q3_operating_cash_uses:downside/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/downside_2027q3_operating_cash_uses:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_operating_cash_uses:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q3_operating_cash_uses:downside/formula/refs/0 | None | downside_2027q3_dfc_interest |
| /operating_model/cells/downside_2027q3_operating_cash_uses:downside/formula/refs/1 | None | downside_2027q3_cash_tax |
| /operating_model/cells/downside_2027q3_operating_cash_uses:downside/formula/refs/2 | None | downside_2027q3_working_capital |
| /operating_model/cells/downside_2027q3_operating_cash_uses:downside/id | None | downside_2027q3_operating_cash_uses |
| /operating_model/cells/downside_2027q3_operating_cash_uses:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_operating_cash_uses:downside/label | None | Interest tax and working-capital use |
| /operating_model/cells/downside_2027q3_operating_cash_uses:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_operating_cash_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_operating_cash_uses:downside/value | None | 42.8125 |
| /operating_model/cells/downside_2027q3_operating_costs:downside/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/downside_2027q3_operating_costs:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_operating_costs:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q3_operating_costs:downside/formula/refs/0 | None | downside_2027q3_cash_overhead |
| /operating_model/cells/downside_2027q3_operating_costs:downside/formula/refs/1 | None | downside_2027q3_royalty_cash |
| /operating_model/cells/downside_2027q3_operating_costs:downside/formula/refs/2 | None | downside_2027q3_da |
| /operating_model/cells/downside_2027q3_operating_costs:downside/formula/refs/3 | None | downside_2027q3_sbc |
| /operating_model/cells/downside_2027q3_operating_costs:downside/formula/refs/4 | None | downside_2027q3_transaction_cost |
| /operating_model/cells/downside_2027q3_operating_costs:downside/id | None | downside_2027q3_operating_costs |
| /operating_model/cells/downside_2027q3_operating_costs:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_operating_costs:downside/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/downside_2027q3_operating_costs:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_operating_costs:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_operating_costs:downside/value | None | 99.698775 |
| /operating_model/cells/downside_2027q3_operating_income:downside/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/downside_2027q3_operating_income:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_operating_income:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q3_operating_income:downside/formula/refs/0 | None | downside_2027q3_gross_contribution |
| /operating_model/cells/downside_2027q3_operating_income:downside/formula/refs/1 | None | downside_2027q3_operating_costs |
| /operating_model/cells/downside_2027q3_operating_income:downside/id | None | downside_2027q3_operating_income |
| /operating_model/cells/downside_2027q3_operating_income:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_operating_income:downside/label | None | Operating income proxy |
| /operating_model/cells/downside_2027q3_operating_income:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_operating_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_operating_income:downside/value | None | -111.12627499999999 |
| /operating_model/cells/downside_2027q3_other_investing:downside/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/downside_2027q3_other_investing:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_other_investing:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q3_other_investing:downside/formula/refs/0 | None | downside_2027q3_acquisition_cash |
| /operating_model/cells/downside_2027q3_other_investing:downside/formula/refs/1 | None | downside_2027q3_minority_investment |
| /operating_model/cells/downside_2027q3_other_investing:downside/id | None | downside_2027q3_other_investing |
| /operating_model/cells/downside_2027q3_other_investing:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_other_investing:downside/label | None | Acquisition and minority cash |
| /operating_model/cells/downside_2027q3_other_investing:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_other_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_other_investing:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q3_ownership_fraction:downside/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/downside_2027q3_ownership_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_ownership_fraction:downside/id | None | downside_2027q3_ownership_fraction |
| /operating_model/cells/downside_2027q3_ownership_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_ownership_fraction:downside/label | None | Consolidated fraction of quarter |
| /operating_model/cells/downside_2027q3_ownership_fraction:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_ownership_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q3_ownership_fraction:downside/value | None | 1.0 |
| /operating_model/cells/downside_2027q3_quarter_fraction:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_quarter_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_quarter_fraction:downside/id | None | downside_2027q3_quarter_fraction |
| /operating_model/cells/downside_2027q3_quarter_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_quarter_fraction:downside/label | None | Annual-to-quarter fraction |
| /operating_model/cells/downside_2027q3_quarter_fraction:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_quarter_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q3_quarter_fraction:downside/value | None | 0.25 |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/formula/refs/0 | None | downside_2027q3_average_capacity |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/formula/refs/1 | None | downside_2027q3_quarter_fraction |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/formula/refs/2 | None | downside_2027q3_mine_utilization |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/formula/refs/3 | None | downside_2027q3_ownership_fraction |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/id | None | downside_2027q3_recognized_tonnes |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q3_recognized_tonnes:downside/value | None | 605.0 |
| /operating_model/cells/downside_2027q3_revenue:downside/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/downside_2027q3_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q3_revenue:downside/formula/refs/0 | None | downside_2027q3_legacy_revenue |
| /operating_model/cells/downside_2027q3_revenue:downside/formula/refs/1 | None | downside_2027q3_mine_revenue |
| /operating_model/cells/downside_2027q3_revenue:downside/formula/refs/2 | None | downside_2027q3_magnet_revenue |
| /operating_model/cells/downside_2027q3_revenue:downside/id | None | downside_2027q3_revenue |
| /operating_model/cells/downside_2027q3_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_revenue:downside/label | None | Consolidated revenue |
| /operating_model/cells/downside_2027q3_revenue:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_revenue:downside/value | None | 25.47 |
| /operating_model/cells/downside_2027q3_royalty_cash:downside/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/downside_2027q3_royalty_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_royalty_cash:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q3_royalty_cash:downside/formula/refs/0 | None | downside_2027q3_royalty_variable |
| /operating_model/cells/downside_2027q3_royalty_cash:downside/formula/refs/1 | None | downside_2027q3_royalty_topup |
| /operating_model/cells/downside_2027q3_royalty_cash:downside/id | None | downside_2027q3_royalty_cash |
| /operating_model/cells/downside_2027q3_royalty_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_royalty_cash:downside/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/downside_2027q3_royalty_cash:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_royalty_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_royalty_cash:downside/value | None | 5.6987749999999995 |
| /operating_model/cells/downside_2027q3_royalty_topup:downside/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/downside_2027q3_royalty_topup:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_royalty_topup:downside/id | None | downside_2027q3_royalty_topup |
| /operating_model/cells/downside_2027q3_royalty_topup:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_royalty_topup:downside/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/downside_2027q3_royalty_topup:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_royalty_topup:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_royalty_topup:downside/value | None | 5.0 |
| /operating_model/cells/downside_2027q3_royalty_variable:downside/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/downside_2027q3_royalty_variable:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_royalty_variable:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q3_royalty_variable:downside/formula/refs/0 | None | downside_2027q3_mine_revenue |
| /operating_model/cells/downside_2027q3_royalty_variable:downside/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/downside_2027q3_royalty_variable:downside/id | None | downside_2027q3_royalty_variable |
| /operating_model/cells/downside_2027q3_royalty_variable:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_royalty_variable:downside/label | None | Variable mine royalty |
| /operating_model/cells/downside_2027q3_royalty_variable:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_royalty_variable:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_royalty_variable:downside/value | None | 0.6987749999999999 |
| /operating_model/cells/downside_2027q3_sbc:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_sbc:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_sbc:downside/id | None | downside_2027q3_sbc |
| /operating_model/cells/downside_2027q3_sbc:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_sbc:downside/label | None | Operating SBC |
| /operating_model/cells/downside_2027q3_sbc:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_sbc:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_sbc:downside/value | None | 12.0 |
| /operating_model/cells/downside_2027q3_transaction_cost:downside/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/downside_2027q3_transaction_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_transaction_cost:downside/id | None | downside_2027q3_transaction_cost |
| /operating_model/cells/downside_2027q3_transaction_cost:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_transaction_cost:downside/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/downside_2027q3_transaction_cost:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_transaction_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_transaction_cost:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q3_treasury_income:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_treasury_income:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_treasury_income:downside/id | None | downside_2027q3_treasury_income |
| /operating_model/cells/downside_2027q3_treasury_income:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_treasury_income:downside/label | None | Cash treasury income |
| /operating_model/cells/downside_2027q3_treasury_income:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_treasury_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_treasury_income:downside/value | None | 5.0 |
| /operating_model/cells/downside_2027q3_treo_price:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_treo_price:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_treo_price:downside/id | None | downside_2027q3_treo_price |
| /operating_model/cells/downside_2027q3_treo_price:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_treo_price:downside/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/downside_2027q3_treo_price:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_treo_price:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_treo_price:downside/value | None | 0.022 |
| /operating_model/cells/downside_2027q3_working_capital:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q3_working_capital:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_working_capital:downside/id | None | downside_2027q3_working_capital |
| /operating_model/cells/downside_2027q3_working_capital:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_working_capital:downside/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/downside_2027q3_working_capital:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_working_capital:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_working_capital:downside/value | None | 35.0 |
| /operating_model/cells/downside_2027q4_acquired_cash:downside/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/downside_2027q4_acquired_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_acquired_cash:downside/id | None | downside_2027q4_acquired_cash |
| /operating_model/cells/downside_2027q4_acquired_cash:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_acquired_cash:downside/label | None | Cash acquired at closing |
| /operating_model/cells/downside_2027q4_acquired_cash:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_acquired_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_acquired_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q4_acquisition_cash:downside/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/downside_2027q4_acquisition_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_acquisition_cash:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q4_acquisition_cash:downside/formula/refs/0 | None | downside_2027q4_new_acquisition |
| /operating_model/cells/downside_2027q4_acquisition_cash:downside/formula/refs/1 | None | downside_2027q4_acquired_cash |
| /operating_model/cells/downside_2027q4_acquisition_cash:downside/id | None | downside_2027q4_acquisition_cash |
| /operating_model/cells/downside_2027q4_acquisition_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_acquisition_cash:downside/label | None | Net acquisition cash |
| /operating_model/cells/downside_2027q4_acquisition_cash:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_acquisition_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_acquisition_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q4_average_capacity:downside/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/downside_2027q4_average_capacity:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_average_capacity:downside/id | None | downside_2027q4_average_capacity |
| /operating_model/cells/downside_2027q4_average_capacity:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_average_capacity:downside/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/downside_2027q4_average_capacity:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_average_capacity:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q4_average_capacity:downside/value | None | 4800.0 |
| /operating_model/cells/downside_2027q4_capex:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_capex:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_capex:downside/id | None | downside_2027q4_capex |
| /operating_model/cells/downside_2027q4_capex:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_capex:downside/label | None | Cash capex and equipment deposits |
| /operating_model/cells/downside_2027q4_capex:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_capex:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_capex:downside/value | None | 220.0 |
| /operating_model/cells/downside_2027q4_cash_after_investing:downside/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/downside_2027q4_cash_after_investing:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_cash_after_investing:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q4_cash_after_investing:downside/formula/refs/0 | None | downside_2027q4_fcf |
| /operating_model/cells/downside_2027q4_cash_after_investing:downside/formula/refs/1 | None | downside_2027q4_other_investing |
| /operating_model/cells/downside_2027q4_cash_after_investing:downside/id | None | downside_2027q4_cash_after_investing |
| /operating_model/cells/downside_2027q4_cash_after_investing:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_cash_after_investing:downside/label | None | Cash after business investing |
| /operating_model/cells/downside_2027q4_cash_after_investing:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_cash_after_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_cash_after_investing:downside/value | None | -348.5491 |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/formula/refs/0 | None | downside_2027q4_operating_income |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/formula/refs/1 | None | downside_2027q4_da |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/formula/refs/2 | None | downside_2027q4_sbc |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/formula/refs/3 | None | downside_2027q4_treasury_income |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/id | None | downside_2027q4_cash_earnings |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_cash_earnings:downside/value | None | -80.7366 |
| /operating_model/cells/downside_2027q4_cash_overhead:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_cash_overhead:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_cash_overhead:downside/id | None | downside_2027q4_cash_overhead |
| /operating_model/cells/downside_2027q4_cash_overhead:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_cash_overhead:downside/label | None | Cash SG&A and development |
| /operating_model/cells/downside_2027q4_cash_overhead:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_cash_overhead:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_cash_overhead:downside/value | None | 68.75 |
| /operating_model/cells/downside_2027q4_cash_tax:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_cash_tax:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_cash_tax:downside/id | None | downside_2027q4_cash_tax |
| /operating_model/cells/downside_2027q4_cash_tax:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_cash_tax:downside/label | None | Cash taxes |
| /operating_model/cells/downside_2027q4_cash_tax:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_cash_tax:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_cash_tax:downside/value | None | 0.5 |
| /operating_model/cells/downside_2027q4_cfo:downside/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/downside_2027q4_cfo:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_cfo:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q4_cfo:downside/formula/refs/0 | None | downside_2027q4_cash_earnings |
| /operating_model/cells/downside_2027q4_cfo:downside/formula/refs/1 | None | downside_2027q4_operating_cash_uses |
| /operating_model/cells/downside_2027q4_cfo:downside/id | None | downside_2027q4_cfo |
| /operating_model/cells/downside_2027q4_cfo:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_cfo:downside/label | None | Operating cash flow proxy |
| /operating_model/cells/downside_2027q4_cfo:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_cfo:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_cfo:downside/value | None | -128.5491 |
| /operating_model/cells/downside_2027q4_da:downside/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/downside_2027q4_da:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_da:downside/id | None | downside_2027q4_da |
| /operating_model/cells/downside_2027q4_da:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_da:downside/label | None | Consolidated operating D&A |
| /operating_model/cells/downside_2027q4_da:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_da:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_da:downside/value | None | 20.0 |
| /operating_model/cells/downside_2027q4_dfc_interest:downside/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/downside_2027q4_dfc_interest:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_dfc_interest:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q4_dfc_interest:downside/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/downside_2027q4_dfc_interest:downside/formula/refs/1 | None | downside_2027q4_dfc_rate |
| /operating_model/cells/downside_2027q4_dfc_interest:downside/formula/refs/2 | None | downside_2027q4_interest_fraction |
| /operating_model/cells/downside_2027q4_dfc_interest:downside/id | None | downside_2027q4_dfc_interest |
| /operating_model/cells/downside_2027q4_dfc_interest:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_dfc_interest:downside/label | None | DFC cash coupon proxy |
| /operating_model/cells/downside_2027q4_dfc_interest:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_dfc_interest:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_dfc_interest:downside/value | None | 7.3125 |
| /operating_model/cells/downside_2027q4_dfc_rate:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_dfc_rate:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_dfc_rate:downside/id | None | downside_2027q4_dfc_rate |
| /operating_model/cells/downside_2027q4_dfc_rate:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_dfc_rate:downside/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/downside_2027q4_dfc_rate:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_dfc_rate:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q4_dfc_rate:downside/value | None | 0.09 |
| /operating_model/cells/downside_2027q4_fcf:downside/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/downside_2027q4_fcf:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_fcf:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q4_fcf:downside/formula/refs/0 | None | downside_2027q4_cfo |
| /operating_model/cells/downside_2027q4_fcf:downside/formula/refs/1 | None | downside_2027q4_capex |
| /operating_model/cells/downside_2027q4_fcf:downside/id | None | downside_2027q4_fcf |
| /operating_model/cells/downside_2027q4_fcf:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_fcf:downside/label | None | CFO less cash capital investment |
| /operating_model/cells/downside_2027q4_fcf:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_fcf:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_fcf:downside/value | None | -348.5491 |
| /operating_model/cells/downside_2027q4_gross_contribution:downside/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/downside_2027q4_gross_contribution:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_gross_contribution:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q4_gross_contribution:downside/formula/refs/0 | None | downside_2027q4_legacy_gross |
| /operating_model/cells/downside_2027q4_gross_contribution:downside/formula/refs/1 | None | downside_2027q4_mine_gross |
| /operating_model/cells/downside_2027q4_gross_contribution:downside/formula/refs/2 | None | downside_2027q4_magnet_gross |
| /operating_model/cells/downside_2027q4_gross_contribution:downside/id | None | downside_2027q4_gross_contribution |
| /operating_model/cells/downside_2027q4_gross_contribution:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_gross_contribution:downside/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/downside_2027q4_gross_contribution:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_gross_contribution:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_gross_contribution:downside/value | None | -10.155000000000003 |
| /operating_model/cells/downside_2027q4_interest_fraction:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_interest_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_interest_fraction:downside/id | None | downside_2027q4_interest_fraction |
| /operating_model/cells/downside_2027q4_interest_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_interest_fraction:downside/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/downside_2027q4_interest_fraction:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_interest_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q4_interest_fraction:downside/value | None | 0.25 |
| /operating_model/cells/downside_2027q4_legacy_gross:downside/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/downside_2027q4_legacy_gross:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_legacy_gross:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q4_legacy_gross:downside/formula/refs/0 | None | downside_2027q4_legacy_revenue |
| /operating_model/cells/downside_2027q4_legacy_gross:downside/formula/refs/1 | None | downside_2027q4_legacy_margin |
| /operating_model/cells/downside_2027q4_legacy_gross:downside/id | None | downside_2027q4_legacy_gross |
| /operating_model/cells/downside_2027q4_legacy_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_legacy_gross:downside/label | None | Legacy cash gross contribution |
| /operating_model/cells/downside_2027q4_legacy_gross:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_legacy_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_legacy_gross:downside/value | None | 0.68 |
| /operating_model/cells/downside_2027q4_legacy_margin:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_legacy_margin:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_legacy_margin:downside/id | None | downside_2027q4_legacy_margin |
| /operating_model/cells/downside_2027q4_legacy_margin:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_legacy_margin:downside/label | None | Legacy margin before D&A |
| /operating_model/cells/downside_2027q4_legacy_margin:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_legacy_margin:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q4_legacy_margin:downside/value | None | 0.08 |
| /operating_model/cells/downside_2027q4_legacy_revenue:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_legacy_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_legacy_revenue:downside/id | None | downside_2027q4_legacy_revenue |
| /operating_model/cells/downside_2027q4_legacy_revenue:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_legacy_revenue:downside/label | None | Legacy alloy and services revenue |
| /operating_model/cells/downside_2027q4_legacy_revenue:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_legacy_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_legacy_revenue:downside/value | None | 8.5 |
| /operating_model/cells/downside_2027q4_magnet_gross:downside/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/downside_2027q4_magnet_gross:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_magnet_gross:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q4_magnet_gross:downside/formula/refs/0 | None | downside_2027q4_magnet_revenue |
| /operating_model/cells/downside_2027q4_magnet_gross:downside/formula/refs/1 | None | downside_2027q4_magnet_margin |
| /operating_model/cells/downside_2027q4_magnet_gross:downside/id | None | downside_2027q4_magnet_gross |
| /operating_model/cells/downside_2027q4_magnet_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_magnet_gross:downside/label | None | Magnet ramp cash contribution |
| /operating_model/cells/downside_2027q4_magnet_gross:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_magnet_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_magnet_gross:downside/value | None | -0.3250000000000003 |
| /operating_model/cells/downside_2027q4_magnet_margin:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_magnet_margin:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_magnet_margin:downside/id | None | downside_2027q4_magnet_margin |
| /operating_model/cells/downside_2027q4_magnet_margin:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_magnet_margin:downside/label | None | Magnet cash gross margin |
| /operating_model/cells/downside_2027q4_magnet_margin:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_magnet_margin:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q4_magnet_margin:downside/value | None | -0.06250000000000006 |
| /operating_model/cells/downside_2027q4_magnet_price:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_magnet_price:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_magnet_price:downside/id | None | downside_2027q4_magnet_price |
| /operating_model/cells/downside_2027q4_magnet_price:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_magnet_price:downside/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/downside_2027q4_magnet_price:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_magnet_price:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_magnet_price:downside/value | None | 0.052 |
| /operating_model/cells/downside_2027q4_magnet_revenue:downside/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/downside_2027q4_magnet_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_magnet_revenue:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q4_magnet_revenue:downside/formula/refs/0 | None | downside_2027q4_magnet_tonnes |
| /operating_model/cells/downside_2027q4_magnet_revenue:downside/formula/refs/1 | None | downside_2027q4_magnet_price |
| /operating_model/cells/downside_2027q4_magnet_revenue:downside/id | None | downside_2027q4_magnet_revenue |
| /operating_model/cells/downside_2027q4_magnet_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_magnet_revenue:downside/label | None | Accepted magnet sales |
| /operating_model/cells/downside_2027q4_magnet_revenue:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_magnet_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_magnet_revenue:downside/value | None | 5.2 |
| /operating_model/cells/downside_2027q4_magnet_tonnes:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_magnet_tonnes:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_magnet_tonnes:downside/id | None | downside_2027q4_magnet_tonnes |
| /operating_model/cells/downside_2027q4_magnet_tonnes:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_magnet_tonnes:downside/label | None | Accepted external magnet tonnes |
| /operating_model/cells/downside_2027q4_magnet_tonnes:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_magnet_tonnes:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q4_magnet_tonnes:downside/value | None | 100.0 |
| /operating_model/cells/downside_2027q4_mine_cash_cost:downside/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/downside_2027q4_mine_cash_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_mine_cash_cost:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q4_mine_cash_cost:downside/formula/refs/0 | None | downside_2027q4_mine_variable_cost |
| /operating_model/cells/downside_2027q4_mine_cash_cost:downside/formula/refs/1 | None | downside_2027q4_mine_fixed_cost |
| /operating_model/cells/downside_2027q4_mine_cash_cost:downside/id | None | downside_2027q4_mine_cash_cost |
| /operating_model/cells/downside_2027q4_mine_cash_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_mine_cash_cost:downside/label | None | Mine cash production cost |
| /operating_model/cells/downside_2027q4_mine_cash_cost:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_mine_cash_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_mine_cash_cost:downside/value | None | 26.35 |
| /operating_model/cells/downside_2027q4_mine_fixed_cost:downside/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/downside_2027q4_mine_fixed_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_mine_fixed_cost:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q4_mine_fixed_cost:downside/formula/refs/0 | None | downside_2027q4_mine_fixed_full |
| /operating_model/cells/downside_2027q4_mine_fixed_cost:downside/formula/refs/1 | None | downside_2027q4_ownership_fraction |
| /operating_model/cells/downside_2027q4_mine_fixed_cost:downside/id | None | downside_2027q4_mine_fixed_cost |
| /operating_model/cells/downside_2027q4_mine_fixed_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_mine_fixed_cost:downside/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/downside_2027q4_mine_fixed_cost:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_mine_fixed_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_mine_fixed_cost:downside/value | None | 13.75 |
| /operating_model/cells/downside_2027q4_mine_fixed_full:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_mine_fixed_full:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_mine_fixed_full:downside/id | None | downside_2027q4_mine_fixed_full |
| /operating_model/cells/downside_2027q4_mine_fixed_full:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_mine_fixed_full:downside/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/downside_2027q4_mine_fixed_full:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_mine_fixed_full:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_mine_fixed_full:downside/value | None | 13.75 |
| /operating_model/cells/downside_2027q4_mine_gross:downside/basis | None | Royalty below contribution. |
| /operating_model/cells/downside_2027q4_mine_gross:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_mine_gross:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q4_mine_gross:downside/formula/refs/0 | None | downside_2027q4_mine_revenue |
| /operating_model/cells/downside_2027q4_mine_gross:downside/formula/refs/1 | None | downside_2027q4_mine_cash_cost |
| /operating_model/cells/downside_2027q4_mine_gross:downside/id | None | downside_2027q4_mine_gross |
| /operating_model/cells/downside_2027q4_mine_gross:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_mine_gross:downside/label | None | Mine revenue less cash production |
| /operating_model/cells/downside_2027q4_mine_gross:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_mine_gross:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_mine_gross:downside/value | None | -10.510000000000002 |
| /operating_model/cells/downside_2027q4_mine_revenue:downside/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/downside_2027q4_mine_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_mine_revenue:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q4_mine_revenue:downside/formula/refs/0 | None | downside_2027q4_recognized_tonnes |
| /operating_model/cells/downside_2027q4_mine_revenue:downside/formula/refs/1 | None | downside_2027q4_treo_price |
| /operating_model/cells/downside_2027q4_mine_revenue:downside/id | None | downside_2027q4_mine_revenue |
| /operating_model/cells/downside_2027q4_mine_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_mine_revenue:downside/label | None | Post-close TREO revenue |
| /operating_model/cells/downside_2027q4_mine_revenue:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_mine_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_mine_revenue:downside/value | None | 15.84 |
| /operating_model/cells/downside_2027q4_mine_unit_cost:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_mine_unit_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_mine_unit_cost:downside/id | None | downside_2027q4_mine_unit_cost |
| /operating_model/cells/downside_2027q4_mine_unit_cost:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_mine_unit_cost:downside/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/downside_2027q4_mine_unit_cost:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_mine_unit_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_mine_unit_cost:downside/value | None | 0.0175 |
| /operating_model/cells/downside_2027q4_mine_utilization:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_mine_utilization:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_mine_utilization:downside/id | None | downside_2027q4_mine_utilization |
| /operating_model/cells/downside_2027q4_mine_utilization:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_mine_utilization:downside/label | None | Capacity to recognized sales factor |
| /operating_model/cells/downside_2027q4_mine_utilization:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_mine_utilization:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q4_mine_utilization:downside/value | None | 0.6 |
| /operating_model/cells/downside_2027q4_mine_variable_cost:downside/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/downside_2027q4_mine_variable_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_mine_variable_cost:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q4_mine_variable_cost:downside/formula/refs/0 | None | downside_2027q4_recognized_tonnes |
| /operating_model/cells/downside_2027q4_mine_variable_cost:downside/formula/refs/1 | None | downside_2027q4_mine_unit_cost |
| /operating_model/cells/downside_2027q4_mine_variable_cost:downside/id | None | downside_2027q4_mine_variable_cost |
| /operating_model/cells/downside_2027q4_mine_variable_cost:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_mine_variable_cost:downside/label | None | Variable mine cash cost |
| /operating_model/cells/downside_2027q4_mine_variable_cost:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_mine_variable_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_mine_variable_cost:downside/value | None | 12.600000000000001 |
| /operating_model/cells/downside_2027q4_minority_investment:downside/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/downside_2027q4_minority_investment:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_minority_investment:downside/id | None | downside_2027q4_minority_investment |
| /operating_model/cells/downside_2027q4_minority_investment:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_minority_investment:downside/label | None | Carester minority investment cash |
| /operating_model/cells/downside_2027q4_minority_investment:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_minority_investment:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_minority_investment:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q4_new_acquisition:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_new_acquisition:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_new_acquisition:downside/id | None | downside_2027q4_new_acquisition |
| /operating_model/cells/downside_2027q4_new_acquisition:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_new_acquisition:downside/label | None | Other acquisition purchase cash |
| /operating_model/cells/downside_2027q4_new_acquisition:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_new_acquisition:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_new_acquisition:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q4_operating_cash_uses:downside/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/downside_2027q4_operating_cash_uses:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_operating_cash_uses:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q4_operating_cash_uses:downside/formula/refs/0 | None | downside_2027q4_dfc_interest |
| /operating_model/cells/downside_2027q4_operating_cash_uses:downside/formula/refs/1 | None | downside_2027q4_cash_tax |
| /operating_model/cells/downside_2027q4_operating_cash_uses:downside/formula/refs/2 | None | downside_2027q4_working_capital |
| /operating_model/cells/downside_2027q4_operating_cash_uses:downside/id | None | downside_2027q4_operating_cash_uses |
| /operating_model/cells/downside_2027q4_operating_cash_uses:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_operating_cash_uses:downside/label | None | Interest tax and working-capital use |
| /operating_model/cells/downside_2027q4_operating_cash_uses:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_operating_cash_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_operating_cash_uses:downside/value | None | 47.8125 |
| /operating_model/cells/downside_2027q4_operating_costs:downside/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/downside_2027q4_operating_costs:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_operating_costs:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q4_operating_costs:downside/formula/refs/0 | None | downside_2027q4_cash_overhead |
| /operating_model/cells/downside_2027q4_operating_costs:downside/formula/refs/1 | None | downside_2027q4_royalty_cash |
| /operating_model/cells/downside_2027q4_operating_costs:downside/formula/refs/2 | None | downside_2027q4_da |
| /operating_model/cells/downside_2027q4_operating_costs:downside/formula/refs/3 | None | downside_2027q4_sbc |
| /operating_model/cells/downside_2027q4_operating_costs:downside/formula/refs/4 | None | downside_2027q4_transaction_cost |
| /operating_model/cells/downside_2027q4_operating_costs:downside/id | None | downside_2027q4_operating_costs |
| /operating_model/cells/downside_2027q4_operating_costs:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_operating_costs:downside/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/downside_2027q4_operating_costs:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_operating_costs:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_operating_costs:downside/value | None | 107.5816 |
| /operating_model/cells/downside_2027q4_operating_income:downside/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/downside_2027q4_operating_income:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_operating_income:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q4_operating_income:downside/formula/refs/0 | None | downside_2027q4_gross_contribution |
| /operating_model/cells/downside_2027q4_operating_income:downside/formula/refs/1 | None | downside_2027q4_operating_costs |
| /operating_model/cells/downside_2027q4_operating_income:downside/id | None | downside_2027q4_operating_income |
| /operating_model/cells/downside_2027q4_operating_income:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_operating_income:downside/label | None | Operating income proxy |
| /operating_model/cells/downside_2027q4_operating_income:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_operating_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_operating_income:downside/value | None | -117.7366 |
| /operating_model/cells/downside_2027q4_other_investing:downside/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/downside_2027q4_other_investing:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_other_investing:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q4_other_investing:downside/formula/refs/0 | None | downside_2027q4_acquisition_cash |
| /operating_model/cells/downside_2027q4_other_investing:downside/formula/refs/1 | None | downside_2027q4_minority_investment |
| /operating_model/cells/downside_2027q4_other_investing:downside/id | None | downside_2027q4_other_investing |
| /operating_model/cells/downside_2027q4_other_investing:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_other_investing:downside/label | None | Acquisition and minority cash |
| /operating_model/cells/downside_2027q4_other_investing:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_other_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_other_investing:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q4_ownership_fraction:downside/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/downside_2027q4_ownership_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_ownership_fraction:downside/id | None | downside_2027q4_ownership_fraction |
| /operating_model/cells/downside_2027q4_ownership_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_ownership_fraction:downside/label | None | Consolidated fraction of quarter |
| /operating_model/cells/downside_2027q4_ownership_fraction:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_ownership_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q4_ownership_fraction:downside/value | None | 1.0 |
| /operating_model/cells/downside_2027q4_quarter_fraction:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_quarter_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_quarter_fraction:downside/id | None | downside_2027q4_quarter_fraction |
| /operating_model/cells/downside_2027q4_quarter_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_quarter_fraction:downside/label | None | Annual-to-quarter fraction |
| /operating_model/cells/downside_2027q4_quarter_fraction:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_quarter_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q4_quarter_fraction:downside/value | None | 0.25 |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/formula/refs/0 | None | downside_2027q4_average_capacity |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/formula/refs/1 | None | downside_2027q4_quarter_fraction |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/formula/refs/2 | None | downside_2027q4_mine_utilization |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/formula/refs/3 | None | downside_2027q4_ownership_fraction |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/id | None | downside_2027q4_recognized_tonnes |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q4_recognized_tonnes:downside/value | None | 720.0 |
| /operating_model/cells/downside_2027q4_revenue:downside/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/downside_2027q4_revenue:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q4_revenue:downside/formula/refs/0 | None | downside_2027q4_legacy_revenue |
| /operating_model/cells/downside_2027q4_revenue:downside/formula/refs/1 | None | downside_2027q4_mine_revenue |
| /operating_model/cells/downside_2027q4_revenue:downside/formula/refs/2 | None | downside_2027q4_magnet_revenue |
| /operating_model/cells/downside_2027q4_revenue:downside/id | None | downside_2027q4_revenue |
| /operating_model/cells/downside_2027q4_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_revenue:downside/label | None | Consolidated revenue |
| /operating_model/cells/downside_2027q4_revenue:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_revenue:downside/value | None | 29.54 |
| /operating_model/cells/downside_2027q4_royalty_cash:downside/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/downside_2027q4_royalty_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_royalty_cash:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q4_royalty_cash:downside/formula/refs/0 | None | downside_2027q4_royalty_variable |
| /operating_model/cells/downside_2027q4_royalty_cash:downside/formula/refs/1 | None | downside_2027q4_royalty_topup |
| /operating_model/cells/downside_2027q4_royalty_cash:downside/id | None | downside_2027q4_royalty_cash |
| /operating_model/cells/downside_2027q4_royalty_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_royalty_cash:downside/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/downside_2027q4_royalty_cash:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_royalty_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_royalty_cash:downside/value | None | 5.8316 |
| /operating_model/cells/downside_2027q4_royalty_topup:downside/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/downside_2027q4_royalty_topup:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_royalty_topup:downside/id | None | downside_2027q4_royalty_topup |
| /operating_model/cells/downside_2027q4_royalty_topup:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_royalty_topup:downside/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/downside_2027q4_royalty_topup:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_royalty_topup:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_royalty_topup:downside/value | None | 5.0 |
| /operating_model/cells/downside_2027q4_royalty_variable:downside/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/downside_2027q4_royalty_variable:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_royalty_variable:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q4_royalty_variable:downside/formula/refs/0 | None | downside_2027q4_mine_revenue |
| /operating_model/cells/downside_2027q4_royalty_variable:downside/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/downside_2027q4_royalty_variable:downside/id | None | downside_2027q4_royalty_variable |
| /operating_model/cells/downside_2027q4_royalty_variable:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_royalty_variable:downside/label | None | Variable mine royalty |
| /operating_model/cells/downside_2027q4_royalty_variable:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_royalty_variable:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_royalty_variable:downside/value | None | 0.8316 |
| /operating_model/cells/downside_2027q4_sbc:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_sbc:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_sbc:downside/id | None | downside_2027q4_sbc |
| /operating_model/cells/downside_2027q4_sbc:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_sbc:downside/label | None | Operating SBC |
| /operating_model/cells/downside_2027q4_sbc:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_sbc:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_sbc:downside/value | None | 13.0 |
| /operating_model/cells/downside_2027q4_transaction_cost:downside/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/downside_2027q4_transaction_cost:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_transaction_cost:downside/id | None | downside_2027q4_transaction_cost |
| /operating_model/cells/downside_2027q4_transaction_cost:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_transaction_cost:downside/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/downside_2027q4_transaction_cost:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_transaction_cost:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_transaction_cost:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q4_treasury_income:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_treasury_income:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_treasury_income:downside/id | None | downside_2027q4_treasury_income |
| /operating_model/cells/downside_2027q4_treasury_income:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_treasury_income:downside/label | None | Cash treasury income |
| /operating_model/cells/downside_2027q4_treasury_income:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_treasury_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_treasury_income:downside/value | None | 4.0 |
| /operating_model/cells/downside_2027q4_treo_price:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_treo_price:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_treo_price:downside/id | None | downside_2027q4_treo_price |
| /operating_model/cells/downside_2027q4_treo_price:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_treo_price:downside/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/downside_2027q4_treo_price:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_treo_price:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_treo_price:downside/value | None | 0.022 |
| /operating_model/cells/downside_2027q4_working_capital:downside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/downside_2027q4_working_capital:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_working_capital:downside/id | None | downside_2027q4_working_capital |
| /operating_model/cells/downside_2027q4_working_capital:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_working_capital:downside/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/downside_2027q4_working_capital:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_working_capital:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_working_capital:downside/value | None | 40.0 |
| /operating_model/cells/downside_fy2026_acquisition_cash:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2026_acquisition_cash:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_acquisition_cash:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_acquisition_cash:downside/formula/refs/0 | None | h1_acquisition_cash |
| /operating_model/cells/downside_fy2026_acquisition_cash:downside/formula/refs/1 | None | downside_2026q3_acquisition_cash |
| /operating_model/cells/downside_fy2026_acquisition_cash:downside/formula/refs/2 | None | downside_2026q4_acquisition_cash |
| /operating_model/cells/downside_fy2026_acquisition_cash:downside/id | None | downside_fy2026_acquisition_cash |
| /operating_model/cells/downside_fy2026_acquisition_cash:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_acquisition_cash:downside/label | None | Net acquisition cash ($M) |
| /operating_model/cells/downside_fy2026_acquisition_cash:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_acquisition_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_acquisition_cash:downside/value | None | 170.0 |
| /operating_model/cells/downside_fy2026_capex:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2026_capex:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_capex:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_capex:downside/formula/refs/0 | None | h1_capex |
| /operating_model/cells/downside_fy2026_capex:downside/formula/refs/1 | None | downside_2026q3_capex |
| /operating_model/cells/downside_fy2026_capex:downside/formula/refs/2 | None | downside_2026q4_capex |
| /operating_model/cells/downside_fy2026_capex:downside/id | None | downside_fy2026_capex |
| /operating_model/cells/downside_fy2026_capex:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_capex:downside/label | None | Cash capex and equipment deposits ($M) |
| /operating_model/cells/downside_fy2026_capex:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_capex:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_capex:downside/value | None | 368.38800000000003 |
| /operating_model/cells/downside_fy2026_cash_after_investing:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2026_cash_after_investing:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_cash_after_investing:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_cash_after_investing:downside/formula/refs/0 | None | h1_cash_after_investing |
| /operating_model/cells/downside_fy2026_cash_after_investing:downside/formula/refs/1 | None | downside_2026q3_cash_after_investing |
| /operating_model/cells/downside_fy2026_cash_after_investing:downside/formula/refs/2 | None | downside_2026q4_cash_after_investing |
| /operating_model/cells/downside_fy2026_cash_after_investing:downside/id | None | downside_fy2026_cash_after_investing |
| /operating_model/cells/downside_fy2026_cash_after_investing:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_cash_after_investing:downside/label | None | Cash after business investing ($M) |
| /operating_model/cells/downside_fy2026_cash_after_investing:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_cash_after_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_cash_after_investing:downside/value | None | -866.8388958333333 |
| /operating_model/cells/downside_fy2026_cfo:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2026_cfo:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_cfo:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_cfo:downside/formula/refs/0 | None | h1_cfo |
| /operating_model/cells/downside_fy2026_cfo:downside/formula/refs/1 | None | downside_2026q3_cfo |
| /operating_model/cells/downside_fy2026_cfo:downside/formula/refs/2 | None | downside_2026q4_cfo |
| /operating_model/cells/downside_fy2026_cfo:downside/id | None | downside_fy2026_cfo |
| /operating_model/cells/downside_fy2026_cfo:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_cfo:downside/label | None | Operating cash flow proxy ($M) |
| /operating_model/cells/downside_fy2026_cfo:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_cfo:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_cfo:downside/value | None | -328.45089583333333 |
| /operating_model/cells/downside_fy2026_fcf:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2026_fcf:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_fcf:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_fcf:downside/formula/refs/0 | None | h1_fcf |
| /operating_model/cells/downside_fy2026_fcf:downside/formula/refs/1 | None | downside_2026q3_fcf |
| /operating_model/cells/downside_fy2026_fcf:downside/formula/refs/2 | None | downside_2026q4_fcf |
| /operating_model/cells/downside_fy2026_fcf:downside/id | None | downside_fy2026_fcf |
| /operating_model/cells/downside_fy2026_fcf:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_fcf:downside/label | None | CFO less capex ($M) |
| /operating_model/cells/downside_fy2026_fcf:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_fcf:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_fcf:downside/value | None | -696.8388958333333 |
| /operating_model/cells/downside_fy2026_gross_contribution:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2026_gross_contribution:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_gross_contribution:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_gross_contribution:downside/formula/refs/0 | None | h1_gross_contribution |
| /operating_model/cells/downside_fy2026_gross_contribution:downside/formula/refs/1 | None | downside_2026q3_gross_contribution |
| /operating_model/cells/downside_fy2026_gross_contribution:downside/formula/refs/2 | None | downside_2026q4_gross_contribution |
| /operating_model/cells/downside_fy2026_gross_contribution:downside/id | None | downside_fy2026_gross_contribution |
| /operating_model/cells/downside_fy2026_gross_contribution:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_gross_contribution:downside/label | None | Gross contribution before D&A ($M) |
| /operating_model/cells/downside_fy2026_gross_contribution:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_gross_contribution:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_gross_contribution:downside/value | None | -16.135083333333334 |
| /operating_model/cells/downside_fy2026_legacy_revenue:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2026_legacy_revenue:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_legacy_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_legacy_revenue:downside/formula/refs/0 | None | h1_legacy_revenue |
| /operating_model/cells/downside_fy2026_legacy_revenue:downside/formula/refs/1 | None | downside_2026q3_legacy_revenue |
| /operating_model/cells/downside_fy2026_legacy_revenue:downside/formula/refs/2 | None | downside_2026q4_legacy_revenue |
| /operating_model/cells/downside_fy2026_legacy_revenue:downside/id | None | downside_fy2026_legacy_revenue |
| /operating_model/cells/downside_fy2026_legacy_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_legacy_revenue:downside/label | None | Legacy alloy and service revenue ($M) |
| /operating_model/cells/downside_fy2026_legacy_revenue:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_legacy_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_legacy_revenue:downside/value | None | 24.019 |
| /operating_model/cells/downside_fy2026_magnet_revenue:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2026_magnet_revenue:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_magnet_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_magnet_revenue:downside/formula/refs/0 | None | h1_magnet_revenue |
| /operating_model/cells/downside_fy2026_magnet_revenue:downside/formula/refs/1 | None | downside_2026q3_magnet_revenue |
| /operating_model/cells/downside_fy2026_magnet_revenue:downside/formula/refs/2 | None | downside_2026q4_magnet_revenue |
| /operating_model/cells/downside_fy2026_magnet_revenue:downside/id | None | downside_fy2026_magnet_revenue |
| /operating_model/cells/downside_fy2026_magnet_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_magnet_revenue:downside/label | None | Accepted magnet sales ($M) |
| /operating_model/cells/downside_fy2026_magnet_revenue:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_magnet_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_magnet_revenue:downside/value | None | 0.52 |
| /operating_model/cells/downside_fy2026_mine_revenue:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2026_mine_revenue:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_mine_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_mine_revenue:downside/formula/refs/0 | None | h1_mine_revenue |
| /operating_model/cells/downside_fy2026_mine_revenue:downside/formula/refs/1 | None | downside_2026q3_mine_revenue |
| /operating_model/cells/downside_fy2026_mine_revenue:downside/formula/refs/2 | None | downside_2026q4_mine_revenue |
| /operating_model/cells/downside_fy2026_mine_revenue:downside/id | None | downside_fy2026_mine_revenue |
| /operating_model/cells/downside_fy2026_mine_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_mine_revenue:downside/label | None | Post-close mine revenue ($M) |
| /operating_model/cells/downside_fy2026_mine_revenue:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_mine_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_mine_revenue:downside/value | None | 7.425 |
| /operating_model/cells/downside_fy2026_minority_investment:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2026_minority_investment:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_minority_investment:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_minority_investment:downside/formula/refs/0 | None | h1_minority_investment |
| /operating_model/cells/downside_fy2026_minority_investment:downside/formula/refs/1 | None | downside_2026q3_minority_investment |
| /operating_model/cells/downside_fy2026_minority_investment:downside/formula/refs/2 | None | downside_2026q4_minority_investment |
| /operating_model/cells/downside_fy2026_minority_investment:downside/id | None | downside_fy2026_minority_investment |
| /operating_model/cells/downside_fy2026_minority_investment:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_minority_investment:downside/label | None | Minority investment cash ($M) |
| /operating_model/cells/downside_fy2026_minority_investment:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_minority_investment:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_minority_investment:downside/value | None | 0.0 |
| /operating_model/cells/downside_fy2026_operating_income:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2026_operating_income:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_operating_income:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_operating_income:downside/formula/refs/0 | None | h1_operating_income |
| /operating_model/cells/downside_fy2026_operating_income:downside/formula/refs/1 | None | downside_2026q3_operating_income |
| /operating_model/cells/downside_fy2026_operating_income:downside/formula/refs/2 | None | downside_2026q4_operating_income |
| /operating_model/cells/downside_fy2026_operating_income:downside/id | None | downside_fy2026_operating_income |
| /operating_model/cells/downside_fy2026_operating_income:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_operating_income:downside/label | None | Operating income proxy ($M) |
| /operating_model/cells/downside_fy2026_operating_income:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_operating_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_operating_income:downside/value | None | -340.3658958333333 |
| /operating_model/cells/downside_fy2026_revenue:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2026_revenue:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_revenue:downside/formula/refs/0 | None | h1_revenue |
| /operating_model/cells/downside_fy2026_revenue:downside/formula/refs/1 | None | downside_2026q3_revenue |
| /operating_model/cells/downside_fy2026_revenue:downside/formula/refs/2 | None | downside_2026q4_revenue |
| /operating_model/cells/downside_fy2026_revenue:downside/id | None | downside_fy2026_revenue |
| /operating_model/cells/downside_fy2026_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_revenue:downside/label | None | Consolidated revenue ($M) |
| /operating_model/cells/downside_fy2026_revenue:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_revenue:downside/value | None | 31.964 |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/formula/refs/0 | None | downside_2027q1_acquisition_cash |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/formula/refs/1 | None | downside_2027q2_acquisition_cash |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/formula/refs/2 | None | downside_2027q3_acquisition_cash |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/formula/refs/3 | None | downside_2027q4_acquisition_cash |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/id | None | downside_fy2027_acquisition_cash |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/label | None | Net acquisition cash ($M) |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_acquisition_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_fy2027_capex:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2027_capex:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_capex:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_capex:downside/formula/refs/0 | None | downside_2027q1_capex |
| /operating_model/cells/downside_fy2027_capex:downside/formula/refs/1 | None | downside_2027q2_capex |
| /operating_model/cells/downside_fy2027_capex:downside/formula/refs/2 | None | downside_2027q3_capex |
| /operating_model/cells/downside_fy2027_capex:downside/formula/refs/3 | None | downside_2027q4_capex |
| /operating_model/cells/downside_fy2027_capex:downside/id | None | downside_fy2027_capex |
| /operating_model/cells/downside_fy2027_capex:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_capex:downside/label | None | Cash capex and equipment deposits ($M) |
| /operating_model/cells/downside_fy2027_capex:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_capex:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_capex:downside/value | None | 760.0 |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/formula/refs/0 | None | downside_2027q1_cash_after_investing |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/formula/refs/1 | None | downside_2027q2_cash_after_investing |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/formula/refs/2 | None | downside_2027q3_cash_after_investing |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/formula/refs/3 | None | downside_2027q4_cash_after_investing |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/id | None | downside_fy2027_cash_after_investing |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/label | None | Cash after business investing ($M) |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_cash_after_investing:downside/value | None | -1252.4503875 |
| /operating_model/cells/downside_fy2027_cfo:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2027_cfo:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_cfo:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_cfo:downside/formula/refs/0 | None | downside_2027q1_cfo |
| /operating_model/cells/downside_fy2027_cfo:downside/formula/refs/1 | None | downside_2027q2_cfo |
| /operating_model/cells/downside_fy2027_cfo:downside/formula/refs/2 | None | downside_2027q3_cfo |
| /operating_model/cells/downside_fy2027_cfo:downside/formula/refs/3 | None | downside_2027q4_cfo |
| /operating_model/cells/downside_fy2027_cfo:downside/id | None | downside_fy2027_cfo |
| /operating_model/cells/downside_fy2027_cfo:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_cfo:downside/label | None | Operating cash flow proxy ($M) |
| /operating_model/cells/downside_fy2027_cfo:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_cfo:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_cfo:downside/value | None | -460.0503875 |
| /operating_model/cells/downside_fy2027_fcf:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2027_fcf:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_fcf:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_fcf:downside/formula/refs/0 | None | downside_2027q1_fcf |
| /operating_model/cells/downside_fy2027_fcf:downside/formula/refs/1 | None | downside_2027q2_fcf |
| /operating_model/cells/downside_fy2027_fcf:downside/formula/refs/2 | None | downside_2027q3_fcf |
| /operating_model/cells/downside_fy2027_fcf:downside/formula/refs/3 | None | downside_2027q4_fcf |
| /operating_model/cells/downside_fy2027_fcf:downside/id | None | downside_fy2027_fcf |
| /operating_model/cells/downside_fy2027_fcf:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_fcf:downside/label | None | CFO less capex ($M) |
| /operating_model/cells/downside_fy2027_fcf:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_fcf:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_fcf:downside/value | None | -1220.0503875 |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/formula/refs/0 | None | downside_2027q1_gross_contribution |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/formula/refs/1 | None | downside_2027q2_gross_contribution |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/formula/refs/2 | None | downside_2027q3_gross_contribution |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/formula/refs/3 | None | downside_2027q4_gross_contribution |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/id | None | downside_fy2027_gross_contribution |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/label | None | Gross contribution before D&A ($M) |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_gross_contribution:downside/value | None | -45.698750000000004 |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/formula/refs/0 | None | downside_2027q1_legacy_revenue |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/formula/refs/1 | None | downside_2027q2_legacy_revenue |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/formula/refs/2 | None | downside_2027q3_legacy_revenue |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/formula/refs/3 | None | downside_2027q4_legacy_revenue |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/id | None | downside_fy2027_legacy_revenue |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/label | None | Legacy alloy and service revenue ($M) |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_legacy_revenue:downside/value | None | 31.0 |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/formula/refs/0 | None | downside_2027q1_magnet_revenue |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/formula/refs/1 | None | downside_2027q2_magnet_revenue |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/formula/refs/2 | None | downside_2027q3_magnet_revenue |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/formula/refs/3 | None | downside_2027q4_magnet_revenue |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/id | None | downside_fy2027_magnet_revenue |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/label | None | Accepted magnet sales ($M) |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_magnet_revenue:downside/value | None | 13.260000000000002 |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/formula/refs/0 | None | downside_2027q1_mine_revenue |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/formula/refs/1 | None | downside_2027q2_mine_revenue |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/formula/refs/2 | None | downside_2027q3_mine_revenue |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/formula/refs/3 | None | downside_2027q4_mine_revenue |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/id | None | downside_fy2027_mine_revenue |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/label | None | Post-close mine revenue ($M) |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_mine_revenue:downside/value | None | 49.55500000000001 |
| /operating_model/cells/downside_fy2027_minority_investment:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2027_minority_investment:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_minority_investment:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_minority_investment:downside/formula/refs/0 | None | downside_2027q1_minority_investment |
| /operating_model/cells/downside_fy2027_minority_investment:downside/formula/refs/1 | None | downside_2027q2_minority_investment |
| /operating_model/cells/downside_fy2027_minority_investment:downside/formula/refs/2 | None | downside_2027q3_minority_investment |
| /operating_model/cells/downside_fy2027_minority_investment:downside/formula/refs/3 | None | downside_2027q4_minority_investment |
| /operating_model/cells/downside_fy2027_minority_investment:downside/id | None | downside_fy2027_minority_investment |
| /operating_model/cells/downside_fy2027_minority_investment:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_minority_investment:downside/label | None | Minority investment cash ($M) |
| /operating_model/cells/downside_fy2027_minority_investment:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_minority_investment:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_minority_investment:downside/value | None | 32.4 |
| /operating_model/cells/downside_fy2027_operating_income:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2027_operating_income:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_operating_income:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_operating_income:downside/formula/refs/0 | None | downside_2027q1_operating_income |
| /operating_model/cells/downside_fy2027_operating_income:downside/formula/refs/1 | None | downside_2027q2_operating_income |
| /operating_model/cells/downside_fy2027_operating_income:downside/formula/refs/2 | None | downside_2027q3_operating_income |
| /operating_model/cells/downside_fy2027_operating_income:downside/formula/refs/3 | None | downside_2027q4_operating_income |
| /operating_model/cells/downside_fy2027_operating_income:downside/id | None | downside_fy2027_operating_income |
| /operating_model/cells/downside_fy2027_operating_income:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_operating_income:downside/label | None | Operating income proxy ($M) |
| /operating_model/cells/downside_fy2027_operating_income:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_operating_income:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_operating_income:downside/value | None | -428.8003875 |
| /operating_model/cells/downside_fy2027_revenue:downside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/downside_fy2027_revenue:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_revenue:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_revenue:downside/formula/refs/0 | None | downside_2027q1_revenue |
| /operating_model/cells/downside_fy2027_revenue:downside/formula/refs/1 | None | downside_2027q2_revenue |
| /operating_model/cells/downside_fy2027_revenue:downside/formula/refs/2 | None | downside_2027q3_revenue |
| /operating_model/cells/downside_fy2027_revenue:downside/formula/refs/3 | None | downside_2027q4_revenue |
| /operating_model/cells/downside_fy2027_revenue:downside/id | None | downside_fy2027_revenue |
| /operating_model/cells/downside_fy2027_revenue:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_revenue:downside/label | None | Consolidated revenue ($M) |
| /operating_model/cells/downside_fy2027_revenue:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_revenue:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_revenue:downside/value | None | 93.815 |
| /operating_model/cells/government_deferred_cost:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/government_deferred_cost:shared/case | None | shared |
| /operating_model/cells/government_deferred_cost:shared/id | None | government_deferred_cost |
| /operating_model/cells/government_deferred_cost:shared/kind | None | reported |
| /operating_model/cells/government_deferred_cost:shared/label | None | government deferred cost |
| /operating_model/cells/government_deferred_cost:shared/period | None | H1 / June 2026 |
| /operating_model/cells/government_deferred_cost:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/government_deferred_cost:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/government_deferred_cost:shared/unit | None | USD_millions |
| /operating_model/cells/government_deferred_cost:shared/value | None | 912.091 |
| /operating_model/cells/government_grant_capacity:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/government_grant_capacity:shared/case | None | shared |
| /operating_model/cells/government_grant_capacity:shared/id | None | government_grant_capacity |
| /operating_model/cells/government_grant_capacity:shared/kind | None | reported |
| /operating_model/cells/government_grant_capacity:shared/label | None | government grant capacity |
| /operating_model/cells/government_grant_capacity:shared/period | None | H1 / June 2026 |
| /operating_model/cells/government_grant_capacity:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/government_grant_capacity:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/government_grant_capacity:shared/unit | None | USD_millions |
| /operating_model/cells/government_grant_capacity:shared/value | None | 277.0 |
| /operating_model/cells/government_loan_capacity:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/government_loan_capacity:shared/case | None | shared |
| /operating_model/cells/government_loan_capacity:shared/id | None | government_loan_capacity |
| /operating_model/cells/government_loan_capacity:shared/kind | None | reported |
| /operating_model/cells/government_loan_capacity:shared/label | None | government loan capacity |
| /operating_model/cells/government_loan_capacity:shared/period | None | H1 / June 2026 |
| /operating_model/cells/government_loan_capacity:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/government_loan_capacity:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/government_loan_capacity:shared/unit | None | USD_millions |
| /operating_model/cells/government_loan_capacity:shared/value | None | 1300.0 |
| /operating_model/cells/h1_acquisition_cash:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/h1_acquisition_cash:shared/case | None | shared |
| /operating_model/cells/h1_acquisition_cash:shared/id | None | h1_acquisition_cash |
| /operating_model/cells/h1_acquisition_cash:shared/kind | None | reported |
| /operating_model/cells/h1_acquisition_cash:shared/label | None | acquisition cash |
| /operating_model/cells/h1_acquisition_cash:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_acquisition_cash:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_acquisition_cash:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_acquisition_cash:shared/unit | None | USD_millions |
| /operating_model/cells/h1_acquisition_cash:shared/value | None | 0.0 |
| /operating_model/cells/h1_capex:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/h1_capex:shared/case | None | shared |
| /operating_model/cells/h1_capex:shared/id | None | h1_capex |
| /operating_model/cells/h1_capex:shared/kind | None | reported |
| /operating_model/cells/h1_capex:shared/label | None | capex |
| /operating_model/cells/h1_capex:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_capex:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_capex:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_capex:shared/unit | None | USD_millions |
| /operating_model/cells/h1_capex:shared/value | None | 108.388 |
| /operating_model/cells/h1_cash_after_investing:shared/basis | None | Future acquisition cannot alter filed H1 USAR cash. |
| /operating_model/cells/h1_cash_after_investing:shared/case | None | shared |
| /operating_model/cells/h1_cash_after_investing:shared/formula/op | None | subtract |
| /operating_model/cells/h1_cash_after_investing:shared/formula/refs/0 | None | h1_fcf |
| /operating_model/cells/h1_cash_after_investing:shared/formula/refs/1 | None | h1_other_investments |
| /operating_model/cells/h1_cash_after_investing:shared/id | None | h1_cash_after_investing |
| /operating_model/cells/h1_cash_after_investing:shared/kind | None | derived |
| /operating_model/cells/h1_cash_after_investing:shared/label | None | H1 cash after business investing |
| /operating_model/cells/h1_cash_after_investing:shared/period | None | H1 2026 |
| /operating_model/cells/h1_cash_after_investing:shared/unit | None | USD_millions |
| /operating_model/cells/h1_cash_after_investing:shared/value | None | -183.712 |
| /operating_model/cells/h1_cfo:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/h1_cfo:shared/case | None | shared |
| /operating_model/cells/h1_cfo:shared/id | None | h1_cfo |
| /operating_model/cells/h1_cfo:shared/kind | None | reported |
| /operating_model/cells/h1_cfo:shared/label | None | cfo |
| /operating_model/cells/h1_cfo:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_cfo:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_cfo:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_cfo:shared/unit | None | USD_millions |
| /operating_model/cells/h1_cfo:shared/value | None | -75.324 |
| /operating_model/cells/h1_da:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/h1_da:shared/case | None | shared |
| /operating_model/cells/h1_da:shared/id | None | h1_da |
| /operating_model/cells/h1_da:shared/kind | None | reported |
| /operating_model/cells/h1_da:shared/label | None | da |
| /operating_model/cells/h1_da:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_da:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_da:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_da:shared/unit | None | USD_millions |
| /operating_model/cells/h1_da:shared/value | None | 4.292 |
| /operating_model/cells/h1_fcf:shared/basis | None | Equipment deposits remain cash investment. |
| /operating_model/cells/h1_fcf:shared/case | None | shared |
| /operating_model/cells/h1_fcf:shared/formula/op | None | subtract |
| /operating_model/cells/h1_fcf:shared/formula/refs/0 | None | h1_cfo |
| /operating_model/cells/h1_fcf:shared/formula/refs/1 | None | h1_capex |
| /operating_model/cells/h1_fcf:shared/id | None | h1_fcf |
| /operating_model/cells/h1_fcf:shared/kind | None | derived |
| /operating_model/cells/h1_fcf:shared/label | None | H1 CFO less capex |
| /operating_model/cells/h1_fcf:shared/period | None | H1 2026 |
| /operating_model/cells/h1_fcf:shared/unit | None | USD_millions |
| /operating_model/cells/h1_fcf:shared/value | None | -183.712 |
| /operating_model/cells/h1_gross_contribution:shared/basis | None | Analytical allocation, not reported EBITDA or segment gross profit. |
| /operating_model/cells/h1_gross_contribution:shared/case | None | shared |
| /operating_model/cells/h1_gross_contribution:shared/formula/op | None | sum |
| /operating_model/cells/h1_gross_contribution:shared/formula/refs/0 | None | h1_reported_gross |
| /operating_model/cells/h1_gross_contribution:shared/formula/refs/1 | None | h1_production_da_allocation |
| /operating_model/cells/h1_gross_contribution:shared/id | None | h1_gross_contribution |
| /operating_model/cells/h1_gross_contribution:shared/kind | None | derived |
| /operating_model/cells/h1_gross_contribution:shared/label | None | H1 gross contribution before assumed production D&A |
| /operating_model/cells/h1_gross_contribution:shared/period | None | H1 2026 |
| /operating_model/cells/h1_gross_contribution:shared/unit | None | USD_millions |
| /operating_model/cells/h1_gross_contribution:shared/value | None | 0.10199999999999987 |
| /operating_model/cells/h1_legacy_revenue:shared/basis | None | H1 revenue was all generated by Less Common Metals, per MD&A; no mine or magnet sales are backfilled. |
| /operating_model/cells/h1_legacy_revenue:shared/case | None | shared |
| /operating_model/cells/h1_legacy_revenue:shared/id | None | h1_legacy_revenue |
| /operating_model/cells/h1_legacy_revenue:shared/kind | None | reported |
| /operating_model/cells/h1_legacy_revenue:shared/label | None | legacy revenue |
| /operating_model/cells/h1_legacy_revenue:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_legacy_revenue:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_legacy_revenue:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_legacy_revenue:shared/unit | None | USD_millions |
| /operating_model/cells/h1_legacy_revenue:shared/value | None | 11.519 |
| /operating_model/cells/h1_magnet_revenue:shared/basis | None | H1 revenue was all generated by Less Common Metals, per MD&A; no mine or magnet sales are backfilled. |
| /operating_model/cells/h1_magnet_revenue:shared/case | None | shared |
| /operating_model/cells/h1_magnet_revenue:shared/id | None | h1_magnet_revenue |
| /operating_model/cells/h1_magnet_revenue:shared/kind | None | reported |
| /operating_model/cells/h1_magnet_revenue:shared/label | None | magnet revenue |
| /operating_model/cells/h1_magnet_revenue:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_magnet_revenue:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_magnet_revenue:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_magnet_revenue:shared/unit | None | USD_millions |
| /operating_model/cells/h1_magnet_revenue:shared/value | None | 0.0 |
| /operating_model/cells/h1_mine_revenue:shared/basis | None | H1 revenue was all generated by Less Common Metals, per MD&A; no mine or magnet sales are backfilled. |
| /operating_model/cells/h1_mine_revenue:shared/case | None | shared |
| /operating_model/cells/h1_mine_revenue:shared/id | None | h1_mine_revenue |
| /operating_model/cells/h1_mine_revenue:shared/kind | None | reported |
| /operating_model/cells/h1_mine_revenue:shared/label | None | mine revenue |
| /operating_model/cells/h1_mine_revenue:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_mine_revenue:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_mine_revenue:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_mine_revenue:shared/unit | None | USD_millions |
| /operating_model/cells/h1_mine_revenue:shared/value | None | 0.0 |
| /operating_model/cells/h1_minority_investment:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/h1_minority_investment:shared/case | None | shared |
| /operating_model/cells/h1_minority_investment:shared/id | None | h1_minority_investment |
| /operating_model/cells/h1_minority_investment:shared/kind | None | reported |
| /operating_model/cells/h1_minority_investment:shared/label | None | minority investment |
| /operating_model/cells/h1_minority_investment:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_minority_investment:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_minority_investment:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_minority_investment:shared/unit | None | USD_millions |
| /operating_model/cells/h1_minority_investment:shared/value | None | 0.0 |
| /operating_model/cells/h1_operating_income:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/h1_operating_income:shared/case | None | shared |
| /operating_model/cells/h1_operating_income:shared/id | None | h1_operating_income |
| /operating_model/cells/h1_operating_income:shared/kind | None | reported |
| /operating_model/cells/h1_operating_income:shared/label | None | operating income |
| /operating_model/cells/h1_operating_income:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_operating_income:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_operating_income:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_operating_income:shared/unit | None | USD_millions |
| /operating_model/cells/h1_operating_income:shared/value | None | -82.989 |
| /operating_model/cells/h1_other_investments:shared/basis | None | No Serra Verde acquisition in H1 reported history. |
| /operating_model/cells/h1_other_investments:shared/case | None | shared |
| /operating_model/cells/h1_other_investments:shared/formula/op | None | sum |
| /operating_model/cells/h1_other_investments:shared/formula/refs/0 | None | h1_acquisition_cash |
| /operating_model/cells/h1_other_investments:shared/formula/refs/1 | None | h1_minority_investment |
| /operating_model/cells/h1_other_investments:shared/id | None | h1_other_investments |
| /operating_model/cells/h1_other_investments:shared/kind | None | derived |
| /operating_model/cells/h1_other_investments:shared/label | None | H1 net acquisitions and minority investment |
| /operating_model/cells/h1_other_investments:shared/period | None | H1 2026 |
| /operating_model/cells/h1_other_investments:shared/unit | None | USD_millions |
| /operating_model/cells/h1_other_investments:shared/value | None | 0.0 |
| /operating_model/cells/h1_pipe:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/h1_pipe:shared/case | None | shared |
| /operating_model/cells/h1_pipe:shared/id | None | h1_pipe |
| /operating_model/cells/h1_pipe:shared/kind | None | reported |
| /operating_model/cells/h1_pipe:shared/label | None | h1 pipe |
| /operating_model/cells/h1_pipe:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_pipe:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_pipe:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_pipe:shared/unit | None | USD_millions |
| /operating_model/cells/h1_pipe:shared/value | None | 1500.0 |
| /operating_model/cells/h1_production_da_allocation:shared/basis | None | Desk allocation of reported total depreciation to production for analytical pre-D&A comparison; not a disclosed segment metric. |
| /operating_model/cells/h1_production_da_allocation:shared/case | None | shared |
| /operating_model/cells/h1_production_da_allocation:shared/id | None | h1_production_da_allocation |
| /operating_model/cells/h1_production_da_allocation:shared/kind | None | assumption |
| /operating_model/cells/h1_production_da_allocation:shared/label | None | H1 assumed production D&A allocation |
| /operating_model/cells/h1_production_da_allocation:shared/period | None | H1 2026 |
| /operating_model/cells/h1_production_da_allocation:shared/unit | None | USD_millions |
| /operating_model/cells/h1_production_da_allocation:shared/value | None | 1.579 |
| /operating_model/cells/h1_reported_gross:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/h1_reported_gross:shared/case | None | shared |
| /operating_model/cells/h1_reported_gross:shared/id | None | h1_reported_gross |
| /operating_model/cells/h1_reported_gross:shared/kind | None | reported |
| /operating_model/cells/h1_reported_gross:shared/label | None | reported gross |
| /operating_model/cells/h1_reported_gross:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_reported_gross:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_reported_gross:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_reported_gross:shared/unit | None | USD_millions |
| /operating_model/cells/h1_reported_gross:shared/value | None | -1.477 |
| /operating_model/cells/h1_revenue:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/h1_revenue:shared/case | None | shared |
| /operating_model/cells/h1_revenue:shared/id | None | h1_revenue |
| /operating_model/cells/h1_revenue:shared/kind | None | reported |
| /operating_model/cells/h1_revenue:shared/label | None | revenue |
| /operating_model/cells/h1_revenue:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_revenue:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_revenue:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_revenue:shared/unit | None | USD_millions |
| /operating_model/cells/h1_revenue:shared/value | None | 11.519 |
| /operating_model/cells/h1_sbc:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/h1_sbc:shared/case | None | shared |
| /operating_model/cells/h1_sbc:shared/id | None | h1_sbc |
| /operating_model/cells/h1_sbc:shared/kind | None | reported |
| /operating_model/cells/h1_sbc:shared/label | None | sbc |
| /operating_model/cells/h1_sbc:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_sbc:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_sbc:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_sbc:shared/unit | None | USD_millions |
| /operating_model/cells/h1_sbc:shared/value | None | 11.003 |
| /operating_model/cells/h1_treasury_income:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/h1_treasury_income:shared/case | None | shared |
| /operating_model/cells/h1_treasury_income:shared/id | None | h1_treasury_income |
| /operating_model/cells/h1_treasury_income:shared/kind | None | reported |
| /operating_model/cells/h1_treasury_income:shared/label | None | treasury income |
| /operating_model/cells/h1_treasury_income:shared/period | None | H1 / June 2026 |
| /operating_model/cells/h1_treasury_income:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/h1_treasury_income:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/h1_treasury_income:shared/unit | None | USD_millions |
| /operating_model/cells/h1_treasury_income:shared/value | None | 26.921 |
| /operating_model/cells/restricted:shared/basis | None | USD millions; government capacity and noncash deferred costs are not received cash. |
| /operating_model/cells/restricted:shared/case | None | shared |
| /operating_model/cells/restricted:shared/id | None | restricted |
| /operating_model/cells/restricted:shared/kind | None | reported |
| /operating_model/cells/restricted:shared/label | None | restricted |
| /operating_model/cells/restricted:shared/period | None | H1 / June 2026 |
| /operating_model/cells/restricted:shared/source_date | None | 2026-08-10 |
| /operating_model/cells/restricted:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /operating_model/cells/restricted:shared/unit | None | USD_millions |
| /operating_model/cells/restricted:shared/value | None | 64.222 |
| /operating_model/cells/royalty_current:shared/basis | None | Furnished pro forma historical or transaction adjustment; not an actual September closing balance. |
| /operating_model/cells/royalty_current:shared/case | None | shared |
| /operating_model/cells/royalty_current:shared/id | None | royalty_current |
| /operating_model/cells/royalty_current:shared/kind | None | reported |
| /operating_model/cells/royalty_current:shared/label | None | royalty current |
| /operating_model/cells/royalty_current:shared/period | None | Pro forma / closing reference |
| /operating_model/cells/royalty_current:shared/source_date | None | 2026-09-04 |
| /operating_model/cells/royalty_current:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026097399/ea030400101ex99-3.htm |
| /operating_model/cells/royalty_current:shared/unit | None | USD_millions |
| /operating_model/cells/royalty_current:shared/value | None | 19.429 |
| /operating_model/cells/royalty_proforma_long:shared/basis | None | Furnished pro forma historical or transaction adjustment; not an actual September closing balance. |
| /operating_model/cells/royalty_proforma_long:shared/case | None | shared |
| /operating_model/cells/royalty_proforma_long:shared/id | None | royalty_proforma_long |
| /operating_model/cells/royalty_proforma_long:shared/kind | None | reported |
| /operating_model/cells/royalty_proforma_long:shared/label | None | royalty proforma long |
| /operating_model/cells/royalty_proforma_long:shared/period | None | Pro forma / closing reference |
| /operating_model/cells/royalty_proforma_long:shared/source_date | None | 2026-09-04 |
| /operating_model/cells/royalty_proforma_long:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026097399/ea030400101ex99-3.htm |
| /operating_model/cells/royalty_proforma_long:shared/unit | None | USD_millions |
| /operating_model/cells/royalty_proforma_long:shared/value | None | 207.429 |
| /operating_model/cells/royalty_rate:shared/basis | None | Two royalty rates of 2.625% following October 2024 amendment; contractual minimum cash is separate. |
| /operating_model/cells/royalty_rate:shared/case | None | shared |
| /operating_model/cells/royalty_rate:shared/id | None | royalty_rate |
| /operating_model/cells/royalty_rate:shared/kind | None | reported |
| /operating_model/cells/royalty_rate:shared/label | None | Combined variable royalty reference |
| /operating_model/cells/royalty_rate:shared/period | None | Contract reference |
| /operating_model/cells/royalty_rate:shared/source_date | None | 2026-04-20 |
| /operating_model/cells/royalty_rate:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026055511/ea029029301ex99-3.htm |
| /operating_model/cells/royalty_rate:shared/unit | None | ratio |
| /operating_model/cells/royalty_rate:shared/value | None | 0.0525 |
| /operating_model/cells/sv_h1_revenue:shared/basis | None | Furnished pro forma historical or transaction adjustment; not an actual September closing balance. |
| /operating_model/cells/sv_h1_revenue:shared/case | None | shared |
| /operating_model/cells/sv_h1_revenue:shared/id | None | sv_h1_revenue |
| /operating_model/cells/sv_h1_revenue:shared/kind | None | reported |
| /operating_model/cells/sv_h1_revenue:shared/label | None | sv h1 revenue |
| /operating_model/cells/sv_h1_revenue:shared/period | None | Pro forma / closing reference |
| /operating_model/cells/sv_h1_revenue:shared/source_date | None | 2026-09-04 |
| /operating_model/cells/sv_h1_revenue:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026097399/ea030400101ex99-3.htm |
| /operating_model/cells/sv_h1_revenue:shared/unit | None | USD_millions |
| /operating_model/cells/sv_h1_revenue:shared/value | None | 0.588 |
| /operating_model/cells/sv_june_cash:shared/basis | None | Furnished pro forma historical or transaction adjustment; not an actual September closing balance. |
| /operating_model/cells/sv_june_cash:shared/case | None | shared |
| /operating_model/cells/sv_june_cash:shared/id | None | sv_june_cash |
| /operating_model/cells/sv_june_cash:shared/kind | None | reported |
| /operating_model/cells/sv_june_cash:shared/label | None | sv june cash |
| /operating_model/cells/sv_june_cash:shared/period | None | Pro forma / closing reference |
| /operating_model/cells/sv_june_cash:shared/source_date | None | 2026-09-04 |
| /operating_model/cells/sv_june_cash:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026097399/ea030400101ex99-3.htm |
| /operating_model/cells/sv_june_cash:shared/unit | None | USD_millions |
| /operating_model/cells/sv_june_cash:shared/value | None | 162.413 |
| /operating_model/cells/transaction_cost_reference:shared/basis | None | Furnished pro forma historical or transaction adjustment; not an actual September closing balance. |
| /operating_model/cells/transaction_cost_reference:shared/case | None | shared |
| /operating_model/cells/transaction_cost_reference:shared/id | None | transaction_cost_reference |
| /operating_model/cells/transaction_cost_reference:shared/kind | None | reported |
| /operating_model/cells/transaction_cost_reference:shared/label | None | transaction cost reference |
| /operating_model/cells/transaction_cost_reference:shared/period | None | Pro forma / closing reference |
| /operating_model/cells/transaction_cost_reference:shared/source_date | None | 2026-09-04 |
| /operating_model/cells/transaction_cost_reference:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026097399/ea030400101ex99-3.htm |
| /operating_model/cells/transaction_cost_reference:shared/unit | None | USD_millions |
| /operating_model/cells/transaction_cost_reference:shared/value | None | 96.372 |
| /operating_model/cells/upside_2026q3_acquired_cash:upside/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/upside_2026q3_acquired_cash:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_acquired_cash:upside/id | None | upside_2026q3_acquired_cash |
| /operating_model/cells/upside_2026q3_acquired_cash:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_acquired_cash:upside/label | None | Cash acquired at closing |
| /operating_model/cells/upside_2026q3_acquired_cash:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_acquired_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_acquired_cash:upside/value | None | 150.0 |
| /operating_model/cells/upside_2026q3_acquisition_cash:upside/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/upside_2026q3_acquisition_cash:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_acquisition_cash:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q3_acquisition_cash:upside/formula/refs/0 | None | acquisition_gross_cash |
| /operating_model/cells/upside_2026q3_acquisition_cash:upside/formula/refs/1 | None | upside_2026q3_acquired_cash |
| /operating_model/cells/upside_2026q3_acquisition_cash:upside/id | None | upside_2026q3_acquisition_cash |
| /operating_model/cells/upside_2026q3_acquisition_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_acquisition_cash:upside/label | None | Net acquisition cash |
| /operating_model/cells/upside_2026q3_acquisition_cash:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_acquisition_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_acquisition_cash:upside/value | None | 150.0 |
| /operating_model/cells/upside_2026q3_average_capacity:upside/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/upside_2026q3_average_capacity:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_average_capacity:upside/id | None | upside_2026q3_average_capacity |
| /operating_model/cells/upside_2026q3_average_capacity:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_average_capacity:upside/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/upside_2026q3_average_capacity:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_average_capacity:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q3_average_capacity:upside/value | None | 4000.0 |
| /operating_model/cells/upside_2026q3_capex:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_capex:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_capex:upside/id | None | upside_2026q3_capex |
| /operating_model/cells/upside_2026q3_capex:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_capex:upside/label | None | Cash capex and equipment deposits |
| /operating_model/cells/upside_2026q3_capex:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_capex:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_capex:upside/value | None | 110.0 |
| /operating_model/cells/upside_2026q3_cash_after_investing:upside/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/upside_2026q3_cash_after_investing:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_cash_after_investing:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q3_cash_after_investing:upside/formula/refs/0 | None | upside_2026q3_fcf |
| /operating_model/cells/upside_2026q3_cash_after_investing:upside/formula/refs/1 | None | upside_2026q3_other_investing |
| /operating_model/cells/upside_2026q3_cash_after_investing:upside/id | None | upside_2026q3_cash_after_investing |
| /operating_model/cells/upside_2026q3_cash_after_investing:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_cash_after_investing:upside/label | None | Cash after business investing |
| /operating_model/cells/upside_2026q3_cash_after_investing:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_cash_after_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_cash_after_investing:upside/value | None | -386.98185 |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/formula/refs/0 | None | upside_2026q3_operating_income |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/formula/refs/1 | None | upside_2026q3_da |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/formula/refs/2 | None | upside_2026q3_sbc |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/formula/refs/3 | None | upside_2026q3_treasury_income |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/id | None | upside_2026q3_cash_earnings |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_cash_earnings:upside/value | None | -109.58601666666667 |
| /operating_model/cells/upside_2026q3_cash_overhead:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_cash_overhead:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_cash_overhead:upside/id | None | upside_2026q3_cash_overhead |
| /operating_model/cells/upside_2026q3_cash_overhead:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_cash_overhead:upside/label | None | Cash SG&A and development |
| /operating_model/cells/upside_2026q3_cash_overhead:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_cash_overhead:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_cash_overhead:upside/value | None | 38.0 |
| /operating_model/cells/upside_2026q3_cash_tax:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_cash_tax:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_cash_tax:upside/id | None | upside_2026q3_cash_tax |
| /operating_model/cells/upside_2026q3_cash_tax:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_cash_tax:upside/label | None | Cash taxes |
| /operating_model/cells/upside_2026q3_cash_tax:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_cash_tax:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_cash_tax:upside/value | None | 0.5 |
| /operating_model/cells/upside_2026q3_cfo:upside/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/upside_2026q3_cfo:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_cfo:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q3_cfo:upside/formula/refs/0 | None | upside_2026q3_cash_earnings |
| /operating_model/cells/upside_2026q3_cfo:upside/formula/refs/1 | None | upside_2026q3_operating_cash_uses |
| /operating_model/cells/upside_2026q3_cfo:upside/id | None | upside_2026q3_cfo |
| /operating_model/cells/upside_2026q3_cfo:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_cfo:upside/label | None | Operating cash flow proxy |
| /operating_model/cells/upside_2026q3_cfo:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_cfo:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_cfo:upside/value | None | -126.98185 |
| /operating_model/cells/upside_2026q3_da:upside/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/upside_2026q3_da:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_da:upside/id | None | upside_2026q3_da |
| /operating_model/cells/upside_2026q3_da:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_da:upside/label | None | Consolidated operating D&A |
| /operating_model/cells/upside_2026q3_da:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_da:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_da:upside/value | None | 5.0 |
| /operating_model/cells/upside_2026q3_dfc_interest:upside/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/upside_2026q3_dfc_interest:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_dfc_interest:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q3_dfc_interest:upside/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/upside_2026q3_dfc_interest:upside/formula/refs/1 | None | upside_2026q3_dfc_rate |
| /operating_model/cells/upside_2026q3_dfc_interest:upside/formula/refs/2 | None | upside_2026q3_interest_fraction |
| /operating_model/cells/upside_2026q3_dfc_interest:upside/id | None | upside_2026q3_dfc_interest |
| /operating_model/cells/upside_2026q3_dfc_interest:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_dfc_interest:upside/label | None | DFC cash coupon proxy |
| /operating_model/cells/upside_2026q3_dfc_interest:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_dfc_interest:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_dfc_interest:upside/value | None | 1.8958333333333335 |
| /operating_model/cells/upside_2026q3_dfc_rate:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_dfc_rate:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_dfc_rate:upside/id | None | upside_2026q3_dfc_rate |
| /operating_model/cells/upside_2026q3_dfc_rate:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_dfc_rate:upside/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/upside_2026q3_dfc_rate:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_dfc_rate:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q3_dfc_rate:upside/value | None | 0.07 |
| /operating_model/cells/upside_2026q3_fcf:upside/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/upside_2026q3_fcf:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_fcf:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q3_fcf:upside/formula/refs/0 | None | upside_2026q3_cfo |
| /operating_model/cells/upside_2026q3_fcf:upside/formula/refs/1 | None | upside_2026q3_capex |
| /operating_model/cells/upside_2026q3_fcf:upside/id | None | upside_2026q3_fcf |
| /operating_model/cells/upside_2026q3_fcf:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_fcf:upside/label | None | CFO less cash capital investment |
| /operating_model/cells/upside_2026q3_fcf:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_fcf:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_fcf:upside/value | None | -236.98185 |
| /operating_model/cells/upside_2026q3_gross_contribution:upside/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/upside_2026q3_gross_contribution:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_gross_contribution:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q3_gross_contribution:upside/formula/refs/0 | None | upside_2026q3_legacy_gross |
| /operating_model/cells/upside_2026q3_gross_contribution:upside/formula/refs/1 | None | upside_2026q3_mine_gross |
| /operating_model/cells/upside_2026q3_gross_contribution:upside/formula/refs/2 | None | upside_2026q3_magnet_gross |
| /operating_model/cells/upside_2026q3_gross_contribution:upside/id | None | upside_2026q3_gross_contribution |
| /operating_model/cells/upside_2026q3_gross_contribution:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_gross_contribution:upside/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/upside_2026q3_gross_contribution:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_gross_contribution:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_gross_contribution:upside/value | None | 0.6467333333333334 |
| /operating_model/cells/upside_2026q3_interest_fraction:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_interest_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_interest_fraction:upside/id | None | upside_2026q3_interest_fraction |
| /operating_model/cells/upside_2026q3_interest_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_interest_fraction:upside/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/upside_2026q3_interest_fraction:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_interest_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q3_interest_fraction:upside/value | None | 0.08333333333333333 |
| /operating_model/cells/upside_2026q3_legacy_gross:upside/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/upside_2026q3_legacy_gross:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_legacy_gross:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q3_legacy_gross:upside/formula/refs/0 | None | upside_2026q3_legacy_revenue |
| /operating_model/cells/upside_2026q3_legacy_gross:upside/formula/refs/1 | None | upside_2026q3_legacy_margin |
| /operating_model/cells/upside_2026q3_legacy_gross:upside/id | None | upside_2026q3_legacy_gross |
| /operating_model/cells/upside_2026q3_legacy_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_legacy_gross:upside/label | None | Legacy cash gross contribution |
| /operating_model/cells/upside_2026q3_legacy_gross:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_legacy_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_legacy_gross:upside/value | None | 1.75 |
| /operating_model/cells/upside_2026q3_legacy_margin:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_legacy_margin:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_legacy_margin:upside/id | None | upside_2026q3_legacy_margin |
| /operating_model/cells/upside_2026q3_legacy_margin:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_legacy_margin:upside/label | None | Legacy margin before D&A |
| /operating_model/cells/upside_2026q3_legacy_margin:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_legacy_margin:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q3_legacy_margin:upside/value | None | 0.25 |
| /operating_model/cells/upside_2026q3_legacy_revenue:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_legacy_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_legacy_revenue:upside/id | None | upside_2026q3_legacy_revenue |
| /operating_model/cells/upside_2026q3_legacy_revenue:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_legacy_revenue:upside/label | None | Legacy alloy and services revenue |
| /operating_model/cells/upside_2026q3_legacy_revenue:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_legacy_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_legacy_revenue:upside/value | None | 7.0 |
| /operating_model/cells/upside_2026q3_magnet_gross:upside/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/upside_2026q3_magnet_gross:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_magnet_gross:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q3_magnet_gross:upside/formula/refs/0 | None | upside_2026q3_magnet_revenue |
| /operating_model/cells/upside_2026q3_magnet_gross:upside/formula/refs/1 | None | upside_2026q3_magnet_margin |
| /operating_model/cells/upside_2026q3_magnet_gross:upside/id | None | upside_2026q3_magnet_gross |
| /operating_model/cells/upside_2026q3_magnet_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_magnet_gross:upside/label | None | Magnet ramp cash contribution |
| /operating_model/cells/upside_2026q3_magnet_gross:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_magnet_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_magnet_gross:upside/value | None | -0.5016 |
| /operating_model/cells/upside_2026q3_magnet_margin:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_magnet_margin:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_magnet_margin:upside/id | None | upside_2026q3_magnet_margin |
| /operating_model/cells/upside_2026q3_magnet_margin:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_magnet_margin:upside/label | None | Magnet cash gross margin |
| /operating_model/cells/upside_2026q3_magnet_margin:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_magnet_margin:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q3_magnet_margin:upside/value | None | -0.76 |
| /operating_model/cells/upside_2026q3_magnet_price:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_magnet_price:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_magnet_price:upside/id | None | upside_2026q3_magnet_price |
| /operating_model/cells/upside_2026q3_magnet_price:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_magnet_price:upside/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/upside_2026q3_magnet_price:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_magnet_price:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_magnet_price:upside/value | None | 0.066 |
| /operating_model/cells/upside_2026q3_magnet_revenue:upside/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/upside_2026q3_magnet_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_magnet_revenue:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q3_magnet_revenue:upside/formula/refs/0 | None | upside_2026q3_magnet_tonnes |
| /operating_model/cells/upside_2026q3_magnet_revenue:upside/formula/refs/1 | None | upside_2026q3_magnet_price |
| /operating_model/cells/upside_2026q3_magnet_revenue:upside/id | None | upside_2026q3_magnet_revenue |
| /operating_model/cells/upside_2026q3_magnet_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_magnet_revenue:upside/label | None | Accepted magnet sales |
| /operating_model/cells/upside_2026q3_magnet_revenue:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_magnet_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_magnet_revenue:upside/value | None | 0.66 |
| /operating_model/cells/upside_2026q3_magnet_tonnes:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_magnet_tonnes:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_magnet_tonnes:upside/id | None | upside_2026q3_magnet_tonnes |
| /operating_model/cells/upside_2026q3_magnet_tonnes:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_magnet_tonnes:upside/label | None | Accepted external magnet tonnes |
| /operating_model/cells/upside_2026q3_magnet_tonnes:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_magnet_tonnes:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q3_magnet_tonnes:upside/value | None | 10.0 |
| /operating_model/cells/upside_2026q3_mine_cash_cost:upside/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/upside_2026q3_mine_cash_cost:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_mine_cash_cost:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q3_mine_cash_cost:upside/formula/refs/0 | None | upside_2026q3_mine_variable_cost |
| /operating_model/cells/upside_2026q3_mine_cash_cost:upside/formula/refs/1 | None | upside_2026q3_mine_fixed_cost |
| /operating_model/cells/upside_2026q3_mine_cash_cost:upside/id | None | upside_2026q3_mine_cash_cost |
| /operating_model/cells/upside_2026q3_mine_cash_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_mine_cash_cost:upside/label | None | Mine cash production cost |
| /operating_model/cells/upside_2026q3_mine_cash_cost:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_mine_cash_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_mine_cash_cost:upside/value | None | 5.034999999999999 |
| /operating_model/cells/upside_2026q3_mine_fixed_cost:upside/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/upside_2026q3_mine_fixed_cost:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_mine_fixed_cost:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q3_mine_fixed_cost:upside/formula/refs/0 | None | upside_2026q3_mine_fixed_full |
| /operating_model/cells/upside_2026q3_mine_fixed_cost:upside/formula/refs/1 | None | upside_2026q3_ownership_fraction |
| /operating_model/cells/upside_2026q3_mine_fixed_cost:upside/id | None | upside_2026q3_mine_fixed_cost |
| /operating_model/cells/upside_2026q3_mine_fixed_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_mine_fixed_cost:upside/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/upside_2026q3_mine_fixed_cost:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_mine_fixed_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_mine_fixed_cost:upside/value | None | 3.483333333333333 |
| /operating_model/cells/upside_2026q3_mine_fixed_full:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_mine_fixed_full:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_mine_fixed_full:upside/id | None | upside_2026q3_mine_fixed_full |
| /operating_model/cells/upside_2026q3_mine_fixed_full:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_mine_fixed_full:upside/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/upside_2026q3_mine_fixed_full:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_mine_fixed_full:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_mine_fixed_full:upside/value | None | 10.45 |
| /operating_model/cells/upside_2026q3_mine_gross:upside/basis | None | Royalty below contribution. |
| /operating_model/cells/upside_2026q3_mine_gross:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_mine_gross:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q3_mine_gross:upside/formula/refs/0 | None | upside_2026q3_mine_revenue |
| /operating_model/cells/upside_2026q3_mine_gross:upside/formula/refs/1 | None | upside_2026q3_mine_cash_cost |
| /operating_model/cells/upside_2026q3_mine_gross:upside/id | None | upside_2026q3_mine_gross |
| /operating_model/cells/upside_2026q3_mine_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_mine_gross:upside/label | None | Mine revenue less cash production |
| /operating_model/cells/upside_2026q3_mine_gross:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_mine_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_mine_gross:upside/value | None | -0.6016666666666666 |
| /operating_model/cells/upside_2026q3_mine_revenue:upside/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/upside_2026q3_mine_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_mine_revenue:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q3_mine_revenue:upside/formula/refs/0 | None | upside_2026q3_recognized_tonnes |
| /operating_model/cells/upside_2026q3_mine_revenue:upside/formula/refs/1 | None | upside_2026q3_treo_price |
| /operating_model/cells/upside_2026q3_mine_revenue:upside/id | None | upside_2026q3_mine_revenue |
| /operating_model/cells/upside_2026q3_mine_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_mine_revenue:upside/label | None | Post-close TREO revenue |
| /operating_model/cells/upside_2026q3_mine_revenue:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_mine_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_mine_revenue:upside/value | None | 4.433333333333333 |
| /operating_model/cells/upside_2026q3_mine_unit_cost:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_mine_unit_cost:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_mine_unit_cost:upside/id | None | upside_2026q3_mine_unit_cost |
| /operating_model/cells/upside_2026q3_mine_unit_cost:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_mine_unit_cost:upside/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/upside_2026q3_mine_unit_cost:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_mine_unit_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_mine_unit_cost:upside/value | None | 0.0133 |
| /operating_model/cells/upside_2026q3_mine_utilization:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_mine_utilization:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_mine_utilization:upside/id | None | upside_2026q3_mine_utilization |
| /operating_model/cells/upside_2026q3_mine_utilization:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_mine_utilization:upside/label | None | Capacity to recognized sales factor |
| /operating_model/cells/upside_2026q3_mine_utilization:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_mine_utilization:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q3_mine_utilization:upside/value | None | 0.35 |
| /operating_model/cells/upside_2026q3_mine_variable_cost:upside/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/upside_2026q3_mine_variable_cost:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_mine_variable_cost:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q3_mine_variable_cost:upside/formula/refs/0 | None | upside_2026q3_recognized_tonnes |
| /operating_model/cells/upside_2026q3_mine_variable_cost:upside/formula/refs/1 | None | upside_2026q3_mine_unit_cost |
| /operating_model/cells/upside_2026q3_mine_variable_cost:upside/id | None | upside_2026q3_mine_variable_cost |
| /operating_model/cells/upside_2026q3_mine_variable_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_mine_variable_cost:upside/label | None | Variable mine cash cost |
| /operating_model/cells/upside_2026q3_mine_variable_cost:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_mine_variable_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_mine_variable_cost:upside/value | None | 1.5516666666666665 |
| /operating_model/cells/upside_2026q3_minority_investment:upside/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/upside_2026q3_minority_investment:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_minority_investment:upside/id | None | upside_2026q3_minority_investment |
| /operating_model/cells/upside_2026q3_minority_investment:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_minority_investment:upside/label | None | Carester minority investment cash |
| /operating_model/cells/upside_2026q3_minority_investment:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_minority_investment:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_minority_investment:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q3_operating_cash_uses:upside/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/upside_2026q3_operating_cash_uses:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_operating_cash_uses:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q3_operating_cash_uses:upside/formula/refs/0 | None | upside_2026q3_dfc_interest |
| /operating_model/cells/upside_2026q3_operating_cash_uses:upside/formula/refs/1 | None | upside_2026q3_cash_tax |
| /operating_model/cells/upside_2026q3_operating_cash_uses:upside/formula/refs/2 | None | upside_2026q3_working_capital |
| /operating_model/cells/upside_2026q3_operating_cash_uses:upside/id | None | upside_2026q3_operating_cash_uses |
| /operating_model/cells/upside_2026q3_operating_cash_uses:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_operating_cash_uses:upside/label | None | Interest tax and working-capital use |
| /operating_model/cells/upside_2026q3_operating_cash_uses:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_operating_cash_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_operating_cash_uses:upside/value | None | 17.395833333333332 |
| /operating_model/cells/upside_2026q3_operating_costs:upside/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/upside_2026q3_operating_costs:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_operating_costs:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q3_operating_costs:upside/formula/refs/0 | None | upside_2026q3_cash_overhead |
| /operating_model/cells/upside_2026q3_operating_costs:upside/formula/refs/1 | None | upside_2026q3_royalty_cash |
| /operating_model/cells/upside_2026q3_operating_costs:upside/formula/refs/2 | None | upside_2026q3_da |
| /operating_model/cells/upside_2026q3_operating_costs:upside/formula/refs/3 | None | upside_2026q3_sbc |
| /operating_model/cells/upside_2026q3_operating_costs:upside/formula/refs/4 | None | upside_2026q3_transaction_cost |
| /operating_model/cells/upside_2026q3_operating_costs:upside/id | None | upside_2026q3_operating_costs |
| /operating_model/cells/upside_2026q3_operating_costs:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_operating_costs:upside/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/upside_2026q3_operating_costs:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_operating_costs:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_operating_costs:upside/value | None | 133.23275 |
| /operating_model/cells/upside_2026q3_operating_income:upside/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/upside_2026q3_operating_income:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_operating_income:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q3_operating_income:upside/formula/refs/0 | None | upside_2026q3_gross_contribution |
| /operating_model/cells/upside_2026q3_operating_income:upside/formula/refs/1 | None | upside_2026q3_operating_costs |
| /operating_model/cells/upside_2026q3_operating_income:upside/id | None | upside_2026q3_operating_income |
| /operating_model/cells/upside_2026q3_operating_income:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_operating_income:upside/label | None | Operating income proxy |
| /operating_model/cells/upside_2026q3_operating_income:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_operating_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_operating_income:upside/value | None | -132.58601666666667 |
| /operating_model/cells/upside_2026q3_other_investing:upside/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/upside_2026q3_other_investing:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_other_investing:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q3_other_investing:upside/formula/refs/0 | None | upside_2026q3_acquisition_cash |
| /operating_model/cells/upside_2026q3_other_investing:upside/formula/refs/1 | None | upside_2026q3_minority_investment |
| /operating_model/cells/upside_2026q3_other_investing:upside/id | None | upside_2026q3_other_investing |
| /operating_model/cells/upside_2026q3_other_investing:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_other_investing:upside/label | None | Acquisition and minority cash |
| /operating_model/cells/upside_2026q3_other_investing:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_other_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_other_investing:upside/value | None | 150.0 |
| /operating_model/cells/upside_2026q3_ownership_fraction:upside/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/upside_2026q3_ownership_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_ownership_fraction:upside/id | None | upside_2026q3_ownership_fraction |
| /operating_model/cells/upside_2026q3_ownership_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_ownership_fraction:upside/label | None | Consolidated fraction of quarter |
| /operating_model/cells/upside_2026q3_ownership_fraction:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_ownership_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q3_ownership_fraction:upside/value | None | 0.3333333333333333 |
| /operating_model/cells/upside_2026q3_quarter_fraction:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_quarter_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_quarter_fraction:upside/id | None | upside_2026q3_quarter_fraction |
| /operating_model/cells/upside_2026q3_quarter_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_quarter_fraction:upside/label | None | Annual-to-quarter fraction |
| /operating_model/cells/upside_2026q3_quarter_fraction:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_quarter_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q3_quarter_fraction:upside/value | None | 0.25 |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/formula/refs/0 | None | upside_2026q3_average_capacity |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/formula/refs/1 | None | upside_2026q3_quarter_fraction |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/formula/refs/2 | None | upside_2026q3_mine_utilization |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/formula/refs/3 | None | upside_2026q3_ownership_fraction |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/id | None | upside_2026q3_recognized_tonnes |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q3_recognized_tonnes:upside/value | None | 116.66666666666666 |
| /operating_model/cells/upside_2026q3_revenue:upside/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/upside_2026q3_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q3_revenue:upside/formula/refs/0 | None | upside_2026q3_legacy_revenue |
| /operating_model/cells/upside_2026q3_revenue:upside/formula/refs/1 | None | upside_2026q3_mine_revenue |
| /operating_model/cells/upside_2026q3_revenue:upside/formula/refs/2 | None | upside_2026q3_magnet_revenue |
| /operating_model/cells/upside_2026q3_revenue:upside/id | None | upside_2026q3_revenue |
| /operating_model/cells/upside_2026q3_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_revenue:upside/label | None | Consolidated revenue |
| /operating_model/cells/upside_2026q3_revenue:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_revenue:upside/value | None | 12.093333333333334 |
| /operating_model/cells/upside_2026q3_royalty_cash:upside/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/upside_2026q3_royalty_cash:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_royalty_cash:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q3_royalty_cash:upside/formula/refs/0 | None | upside_2026q3_royalty_variable |
| /operating_model/cells/upside_2026q3_royalty_cash:upside/formula/refs/1 | None | upside_2026q3_royalty_topup |
| /operating_model/cells/upside_2026q3_royalty_cash:upside/id | None | upside_2026q3_royalty_cash |
| /operating_model/cells/upside_2026q3_royalty_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_royalty_cash:upside/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/upside_2026q3_royalty_cash:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_royalty_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_royalty_cash:upside/value | None | 2.23275 |
| /operating_model/cells/upside_2026q3_royalty_topup:upside/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/upside_2026q3_royalty_topup:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_royalty_topup:upside/id | None | upside_2026q3_royalty_topup |
| /operating_model/cells/upside_2026q3_royalty_topup:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_royalty_topup:upside/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/upside_2026q3_royalty_topup:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_royalty_topup:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_royalty_topup:upside/value | None | 2.0 |
| /operating_model/cells/upside_2026q3_royalty_variable:upside/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/upside_2026q3_royalty_variable:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_royalty_variable:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q3_royalty_variable:upside/formula/refs/0 | None | upside_2026q3_mine_revenue |
| /operating_model/cells/upside_2026q3_royalty_variable:upside/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/upside_2026q3_royalty_variable:upside/id | None | upside_2026q3_royalty_variable |
| /operating_model/cells/upside_2026q3_royalty_variable:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_royalty_variable:upside/label | None | Variable mine royalty |
| /operating_model/cells/upside_2026q3_royalty_variable:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_royalty_variable:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_royalty_variable:upside/value | None | 0.23274999999999996 |
| /operating_model/cells/upside_2026q3_sbc:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_sbc:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_sbc:upside/id | None | upside_2026q3_sbc |
| /operating_model/cells/upside_2026q3_sbc:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_sbc:upside/label | None | Operating SBC |
| /operating_model/cells/upside_2026q3_sbc:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_sbc:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_sbc:upside/value | None | 8.0 |
| /operating_model/cells/upside_2026q3_transaction_cost:upside/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/upside_2026q3_transaction_cost:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_transaction_cost:upside/id | None | upside_2026q3_transaction_cost |
| /operating_model/cells/upside_2026q3_transaction_cost:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_transaction_cost:upside/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/upside_2026q3_transaction_cost:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_transaction_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_transaction_cost:upside/value | None | 80.0 |
| /operating_model/cells/upside_2026q3_treasury_income:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_treasury_income:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_treasury_income:upside/id | None | upside_2026q3_treasury_income |
| /operating_model/cells/upside_2026q3_treasury_income:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_treasury_income:upside/label | None | Cash treasury income |
| /operating_model/cells/upside_2026q3_treasury_income:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_treasury_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_treasury_income:upside/value | None | 10.0 |
| /operating_model/cells/upside_2026q3_treo_price:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_treo_price:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_treo_price:upside/id | None | upside_2026q3_treo_price |
| /operating_model/cells/upside_2026q3_treo_price:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_treo_price:upside/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/upside_2026q3_treo_price:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_treo_price:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_treo_price:upside/value | None | 0.038 |
| /operating_model/cells/upside_2026q3_working_capital:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q3_working_capital:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_working_capital:upside/id | None | upside_2026q3_working_capital |
| /operating_model/cells/upside_2026q3_working_capital:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_working_capital:upside/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/upside_2026q3_working_capital:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_working_capital:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_working_capital:upside/value | None | 15.0 |
| /operating_model/cells/upside_2026q4_acquired_cash:upside/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/upside_2026q4_acquired_cash:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_acquired_cash:upside/id | None | upside_2026q4_acquired_cash |
| /operating_model/cells/upside_2026q4_acquired_cash:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_acquired_cash:upside/label | None | Cash acquired at closing |
| /operating_model/cells/upside_2026q4_acquired_cash:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_acquired_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_acquired_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q4_acquisition_cash:upside/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/upside_2026q4_acquisition_cash:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_acquisition_cash:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q4_acquisition_cash:upside/formula/refs/0 | None | upside_2026q4_new_acquisition |
| /operating_model/cells/upside_2026q4_acquisition_cash:upside/formula/refs/1 | None | upside_2026q4_acquired_cash |
| /operating_model/cells/upside_2026q4_acquisition_cash:upside/id | None | upside_2026q4_acquisition_cash |
| /operating_model/cells/upside_2026q4_acquisition_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_acquisition_cash:upside/label | None | Net acquisition cash |
| /operating_model/cells/upside_2026q4_acquisition_cash:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_acquisition_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_acquisition_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q4_average_capacity:upside/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/upside_2026q4_average_capacity:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_average_capacity:upside/id | None | upside_2026q4_average_capacity |
| /operating_model/cells/upside_2026q4_average_capacity:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_average_capacity:upside/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/upside_2026q4_average_capacity:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_average_capacity:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q4_average_capacity:upside/value | None | 4200.0 |
| /operating_model/cells/upside_2026q4_capex:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_capex:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_capex:upside/id | None | upside_2026q4_capex |
| /operating_model/cells/upside_2026q4_capex:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_capex:upside/label | None | Cash capex and equipment deposits |
| /operating_model/cells/upside_2026q4_capex:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_capex:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_capex:upside/value | None | 140.0 |
| /operating_model/cells/upside_2026q4_cash_after_investing:upside/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/upside_2026q4_cash_after_investing:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_cash_after_investing:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q4_cash_after_investing:upside/formula/refs/0 | None | upside_2026q4_fcf |
| /operating_model/cells/upside_2026q4_cash_after_investing:upside/formula/refs/1 | None | upside_2026q4_other_investing |
| /operating_model/cells/upside_2026q4_cash_after_investing:upside/id | None | upside_2026q4_cash_after_investing |
| /operating_model/cells/upside_2026q4_cash_after_investing:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_cash_after_investing:upside/label | None | Cash after business investing |
| /operating_model/cells/upside_2026q4_cash_after_investing:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_cash_after_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_cash_after_investing:upside/value | None | -245.1955 |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/formula/refs/0 | None | upside_2026q4_operating_income |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/formula/refs/1 | None | upside_2026q4_da |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/formula/refs/2 | None | upside_2026q4_sbc |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/formula/refs/3 | None | upside_2026q4_treasury_income |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/id | None | upside_2026q4_cash_earnings |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_cash_earnings:upside/value | None | -46.608000000000004 |
| /operating_model/cells/upside_2026q4_cash_overhead:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_cash_overhead:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_cash_overhead:upside/id | None | upside_2026q4_cash_overhead |
| /operating_model/cells/upside_2026q4_cash_overhead:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_cash_overhead:upside/label | None | Cash SG&A and development |
| /operating_model/cells/upside_2026q4_cash_overhead:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_cash_overhead:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_cash_overhead:upside/value | None | 40.85 |
| /operating_model/cells/upside_2026q4_cash_tax:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_cash_tax:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_cash_tax:upside/id | None | upside_2026q4_cash_tax |
| /operating_model/cells/upside_2026q4_cash_tax:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_cash_tax:upside/label | None | Cash taxes |
| /operating_model/cells/upside_2026q4_cash_tax:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_cash_tax:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_cash_tax:upside/value | None | 0.5 |
| /operating_model/cells/upside_2026q4_cfo:upside/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/upside_2026q4_cfo:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_cfo:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q4_cfo:upside/formula/refs/0 | None | upside_2026q4_cash_earnings |
| /operating_model/cells/upside_2026q4_cfo:upside/formula/refs/1 | None | upside_2026q4_operating_cash_uses |
| /operating_model/cells/upside_2026q4_cfo:upside/id | None | upside_2026q4_cfo |
| /operating_model/cells/upside_2026q4_cfo:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_cfo:upside/label | None | Operating cash flow proxy |
| /operating_model/cells/upside_2026q4_cfo:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_cfo:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_cfo:upside/value | None | -72.7955 |
| /operating_model/cells/upside_2026q4_da:upside/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/upside_2026q4_da:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_da:upside/id | None | upside_2026q4_da |
| /operating_model/cells/upside_2026q4_da:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_da:upside/label | None | Consolidated operating D&A |
| /operating_model/cells/upside_2026q4_da:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_da:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_da:upside/value | None | 8.0 |
| /operating_model/cells/upside_2026q4_dfc_interest:upside/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/upside_2026q4_dfc_interest:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_dfc_interest:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q4_dfc_interest:upside/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/upside_2026q4_dfc_interest:upside/formula/refs/1 | None | upside_2026q4_dfc_rate |
| /operating_model/cells/upside_2026q4_dfc_interest:upside/formula/refs/2 | None | upside_2026q4_interest_fraction |
| /operating_model/cells/upside_2026q4_dfc_interest:upside/id | None | upside_2026q4_dfc_interest |
| /operating_model/cells/upside_2026q4_dfc_interest:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_dfc_interest:upside/label | None | DFC cash coupon proxy |
| /operating_model/cells/upside_2026q4_dfc_interest:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_dfc_interest:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_dfc_interest:upside/value | None | 5.687500000000001 |
| /operating_model/cells/upside_2026q4_dfc_rate:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_dfc_rate:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_dfc_rate:upside/id | None | upside_2026q4_dfc_rate |
| /operating_model/cells/upside_2026q4_dfc_rate:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_dfc_rate:upside/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/upside_2026q4_dfc_rate:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_dfc_rate:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q4_dfc_rate:upside/value | None | 0.07 |
| /operating_model/cells/upside_2026q4_fcf:upside/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/upside_2026q4_fcf:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_fcf:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q4_fcf:upside/formula/refs/0 | None | upside_2026q4_cfo |
| /operating_model/cells/upside_2026q4_fcf:upside/formula/refs/1 | None | upside_2026q4_capex |
| /operating_model/cells/upside_2026q4_fcf:upside/id | None | upside_2026q4_fcf |
| /operating_model/cells/upside_2026q4_fcf:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_fcf:upside/label | None | CFO less cash capital investment |
| /operating_model/cells/upside_2026q4_fcf:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_fcf:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_fcf:upside/value | None | -212.7955 |
| /operating_model/cells/upside_2026q4_gross_contribution:upside/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/upside_2026q4_gross_contribution:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_gross_contribution:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q4_gross_contribution:upside/formula/refs/0 | None | upside_2026q4_legacy_gross |
| /operating_model/cells/upside_2026q4_gross_contribution:upside/formula/refs/1 | None | upside_2026q4_mine_gross |
| /operating_model/cells/upside_2026q4_gross_contribution:upside/formula/refs/2 | None | upside_2026q4_magnet_gross |
| /operating_model/cells/upside_2026q4_gross_contribution:upside/id | None | upside_2026q4_gross_contribution |
| /operating_model/cells/upside_2026q4_gross_contribution:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_gross_contribution:upside/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/upside_2026q4_gross_contribution:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_gross_contribution:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_gross_contribution:upside/value | None | 10.917799999999998 |
| /operating_model/cells/upside_2026q4_interest_fraction:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_interest_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_interest_fraction:upside/id | None | upside_2026q4_interest_fraction |
| /operating_model/cells/upside_2026q4_interest_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_interest_fraction:upside/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/upside_2026q4_interest_fraction:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_interest_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q4_interest_fraction:upside/value | None | 0.25 |
| /operating_model/cells/upside_2026q4_legacy_gross:upside/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/upside_2026q4_legacy_gross:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_legacy_gross:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q4_legacy_gross:upside/formula/refs/0 | None | upside_2026q4_legacy_revenue |
| /operating_model/cells/upside_2026q4_legacy_gross:upside/formula/refs/1 | None | upside_2026q4_legacy_margin |
| /operating_model/cells/upside_2026q4_legacy_gross:upside/id | None | upside_2026q4_legacy_gross |
| /operating_model/cells/upside_2026q4_legacy_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_legacy_gross:upside/label | None | Legacy cash gross contribution |
| /operating_model/cells/upside_2026q4_legacy_gross:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_legacy_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_legacy_gross:upside/value | None | 2.25 |
| /operating_model/cells/upside_2026q4_legacy_margin:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_legacy_margin:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_legacy_margin:upside/id | None | upside_2026q4_legacy_margin |
| /operating_model/cells/upside_2026q4_legacy_margin:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_legacy_margin:upside/label | None | Legacy margin before D&A |
| /operating_model/cells/upside_2026q4_legacy_margin:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_legacy_margin:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q4_legacy_margin:upside/value | None | 0.25 |
| /operating_model/cells/upside_2026q4_legacy_revenue:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_legacy_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_legacy_revenue:upside/id | None | upside_2026q4_legacy_revenue |
| /operating_model/cells/upside_2026q4_legacy_revenue:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_legacy_revenue:upside/label | None | Legacy alloy and services revenue |
| /operating_model/cells/upside_2026q4_legacy_revenue:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_legacy_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_legacy_revenue:upside/value | None | 9.0 |
| /operating_model/cells/upside_2026q4_magnet_gross:upside/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/upside_2026q4_magnet_gross:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_magnet_gross:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q4_magnet_gross:upside/formula/refs/0 | None | upside_2026q4_magnet_revenue |
| /operating_model/cells/upside_2026q4_magnet_gross:upside/formula/refs/1 | None | upside_2026q4_magnet_margin |
| /operating_model/cells/upside_2026q4_magnet_gross:upside/id | None | upside_2026q4_magnet_gross |
| /operating_model/cells/upside_2026q4_magnet_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_magnet_gross:upside/label | None | Magnet ramp cash contribution |
| /operating_model/cells/upside_2026q4_magnet_gross:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_magnet_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_magnet_gross:upside/value | None | -1.6301999999999999 |
| /operating_model/cells/upside_2026q4_magnet_margin:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_magnet_margin:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_magnet_margin:upside/id | None | upside_2026q4_magnet_margin |
| /operating_model/cells/upside_2026q4_magnet_margin:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_magnet_margin:upside/label | None | Magnet cash gross margin |
| /operating_model/cells/upside_2026q4_magnet_margin:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_magnet_margin:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q4_magnet_margin:upside/value | None | -0.6174999999999999 |
| /operating_model/cells/upside_2026q4_magnet_price:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_magnet_price:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_magnet_price:upside/id | None | upside_2026q4_magnet_price |
| /operating_model/cells/upside_2026q4_magnet_price:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_magnet_price:upside/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/upside_2026q4_magnet_price:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_magnet_price:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_magnet_price:upside/value | None | 0.066 |
| /operating_model/cells/upside_2026q4_magnet_revenue:upside/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/upside_2026q4_magnet_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_magnet_revenue:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q4_magnet_revenue:upside/formula/refs/0 | None | upside_2026q4_magnet_tonnes |
| /operating_model/cells/upside_2026q4_magnet_revenue:upside/formula/refs/1 | None | upside_2026q4_magnet_price |
| /operating_model/cells/upside_2026q4_magnet_revenue:upside/id | None | upside_2026q4_magnet_revenue |
| /operating_model/cells/upside_2026q4_magnet_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_magnet_revenue:upside/label | None | Accepted magnet sales |
| /operating_model/cells/upside_2026q4_magnet_revenue:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_magnet_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_magnet_revenue:upside/value | None | 2.64 |
| /operating_model/cells/upside_2026q4_magnet_tonnes:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_magnet_tonnes:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_magnet_tonnes:upside/id | None | upside_2026q4_magnet_tonnes |
| /operating_model/cells/upside_2026q4_magnet_tonnes:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_magnet_tonnes:upside/label | None | Accepted external magnet tonnes |
| /operating_model/cells/upside_2026q4_magnet_tonnes:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_magnet_tonnes:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q4_magnet_tonnes:upside/value | None | 40.0 |
| /operating_model/cells/upside_2026q4_mine_cash_cost:upside/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/upside_2026q4_mine_cash_cost:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_mine_cash_cost:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q4_mine_cash_cost:upside/formula/refs/0 | None | upside_2026q4_mine_variable_cost |
| /operating_model/cells/upside_2026q4_mine_cash_cost:upside/formula/refs/1 | None | upside_2026q4_mine_fixed_cost |
| /operating_model/cells/upside_2026q4_mine_cash_cost:upside/id | None | upside_2026q4_mine_cash_cost |
| /operating_model/cells/upside_2026q4_mine_cash_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_mine_cash_cost:upside/label | None | Mine cash production cost |
| /operating_model/cells/upside_2026q4_mine_cash_cost:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_mine_cash_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_mine_cash_cost:upside/value | None | 21.622 |
| /operating_model/cells/upside_2026q4_mine_fixed_cost:upside/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/upside_2026q4_mine_fixed_cost:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_mine_fixed_cost:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q4_mine_fixed_cost:upside/formula/refs/0 | None | upside_2026q4_mine_fixed_full |
| /operating_model/cells/upside_2026q4_mine_fixed_cost:upside/formula/refs/1 | None | upside_2026q4_ownership_fraction |
| /operating_model/cells/upside_2026q4_mine_fixed_cost:upside/id | None | upside_2026q4_mine_fixed_cost |
| /operating_model/cells/upside_2026q4_mine_fixed_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_mine_fixed_cost:upside/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/upside_2026q4_mine_fixed_cost:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_mine_fixed_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_mine_fixed_cost:upside/value | None | 10.45 |
| /operating_model/cells/upside_2026q4_mine_fixed_full:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_mine_fixed_full:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_mine_fixed_full:upside/id | None | upside_2026q4_mine_fixed_full |
| /operating_model/cells/upside_2026q4_mine_fixed_full:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_mine_fixed_full:upside/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/upside_2026q4_mine_fixed_full:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_mine_fixed_full:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_mine_fixed_full:upside/value | None | 10.45 |
| /operating_model/cells/upside_2026q4_mine_gross:upside/basis | None | Royalty below contribution. |
| /operating_model/cells/upside_2026q4_mine_gross:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_mine_gross:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q4_mine_gross:upside/formula/refs/0 | None | upside_2026q4_mine_revenue |
| /operating_model/cells/upside_2026q4_mine_gross:upside/formula/refs/1 | None | upside_2026q4_mine_cash_cost |
| /operating_model/cells/upside_2026q4_mine_gross:upside/id | None | upside_2026q4_mine_gross |
| /operating_model/cells/upside_2026q4_mine_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_mine_gross:upside/label | None | Mine revenue less cash production |
| /operating_model/cells/upside_2026q4_mine_gross:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_mine_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_mine_gross:upside/value | None | 10.297999999999998 |
| /operating_model/cells/upside_2026q4_mine_revenue:upside/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/upside_2026q4_mine_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_mine_revenue:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q4_mine_revenue:upside/formula/refs/0 | None | upside_2026q4_recognized_tonnes |
| /operating_model/cells/upside_2026q4_mine_revenue:upside/formula/refs/1 | None | upside_2026q4_treo_price |
| /operating_model/cells/upside_2026q4_mine_revenue:upside/id | None | upside_2026q4_mine_revenue |
| /operating_model/cells/upside_2026q4_mine_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_mine_revenue:upside/label | None | Post-close TREO revenue |
| /operating_model/cells/upside_2026q4_mine_revenue:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_mine_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_mine_revenue:upside/value | None | 31.919999999999998 |
| /operating_model/cells/upside_2026q4_mine_unit_cost:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_mine_unit_cost:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_mine_unit_cost:upside/id | None | upside_2026q4_mine_unit_cost |
| /operating_model/cells/upside_2026q4_mine_unit_cost:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_mine_unit_cost:upside/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/upside_2026q4_mine_unit_cost:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_mine_unit_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_mine_unit_cost:upside/value | None | 0.0133 |
| /operating_model/cells/upside_2026q4_mine_utilization:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_mine_utilization:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_mine_utilization:upside/id | None | upside_2026q4_mine_utilization |
| /operating_model/cells/upside_2026q4_mine_utilization:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_mine_utilization:upside/label | None | Capacity to recognized sales factor |
| /operating_model/cells/upside_2026q4_mine_utilization:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_mine_utilization:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q4_mine_utilization:upside/value | None | 0.8 |
| /operating_model/cells/upside_2026q4_mine_variable_cost:upside/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/upside_2026q4_mine_variable_cost:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_mine_variable_cost:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q4_mine_variable_cost:upside/formula/refs/0 | None | upside_2026q4_recognized_tonnes |
| /operating_model/cells/upside_2026q4_mine_variable_cost:upside/formula/refs/1 | None | upside_2026q4_mine_unit_cost |
| /operating_model/cells/upside_2026q4_mine_variable_cost:upside/id | None | upside_2026q4_mine_variable_cost |
| /operating_model/cells/upside_2026q4_mine_variable_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_mine_variable_cost:upside/label | None | Variable mine cash cost |
| /operating_model/cells/upside_2026q4_mine_variable_cost:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_mine_variable_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_mine_variable_cost:upside/value | None | 11.171999999999999 |
| /operating_model/cells/upside_2026q4_minority_investment:upside/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/upside_2026q4_minority_investment:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_minority_investment:upside/id | None | upside_2026q4_minority_investment |
| /operating_model/cells/upside_2026q4_minority_investment:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_minority_investment:upside/label | None | Carester minority investment cash |
| /operating_model/cells/upside_2026q4_minority_investment:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_minority_investment:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_minority_investment:upside/value | None | 32.4 |
| /operating_model/cells/upside_2026q4_new_acquisition:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_new_acquisition:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_new_acquisition:upside/id | None | upside_2026q4_new_acquisition |
| /operating_model/cells/upside_2026q4_new_acquisition:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_new_acquisition:upside/label | None | Other acquisition purchase cash |
| /operating_model/cells/upside_2026q4_new_acquisition:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_new_acquisition:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_new_acquisition:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q4_operating_cash_uses:upside/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/upside_2026q4_operating_cash_uses:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_operating_cash_uses:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q4_operating_cash_uses:upside/formula/refs/0 | None | upside_2026q4_dfc_interest |
| /operating_model/cells/upside_2026q4_operating_cash_uses:upside/formula/refs/1 | None | upside_2026q4_cash_tax |
| /operating_model/cells/upside_2026q4_operating_cash_uses:upside/formula/refs/2 | None | upside_2026q4_working_capital |
| /operating_model/cells/upside_2026q4_operating_cash_uses:upside/id | None | upside_2026q4_operating_cash_uses |
| /operating_model/cells/upside_2026q4_operating_cash_uses:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_operating_cash_uses:upside/label | None | Interest tax and working-capital use |
| /operating_model/cells/upside_2026q4_operating_cash_uses:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_operating_cash_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_operating_cash_uses:upside/value | None | 26.1875 |
| /operating_model/cells/upside_2026q4_operating_costs:upside/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/upside_2026q4_operating_costs:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_operating_costs:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q4_operating_costs:upside/formula/refs/0 | None | upside_2026q4_cash_overhead |
| /operating_model/cells/upside_2026q4_operating_costs:upside/formula/refs/1 | None | upside_2026q4_royalty_cash |
| /operating_model/cells/upside_2026q4_operating_costs:upside/formula/refs/2 | None | upside_2026q4_da |
| /operating_model/cells/upside_2026q4_operating_costs:upside/formula/refs/3 | None | upside_2026q4_sbc |
| /operating_model/cells/upside_2026q4_operating_costs:upside/formula/refs/4 | None | upside_2026q4_transaction_cost |
| /operating_model/cells/upside_2026q4_operating_costs:upside/id | None | upside_2026q4_operating_costs |
| /operating_model/cells/upside_2026q4_operating_costs:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_operating_costs:upside/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/upside_2026q4_operating_costs:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_operating_costs:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_operating_costs:upside/value | None | 84.5258 |
| /operating_model/cells/upside_2026q4_operating_income:upside/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/upside_2026q4_operating_income:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_operating_income:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q4_operating_income:upside/formula/refs/0 | None | upside_2026q4_gross_contribution |
| /operating_model/cells/upside_2026q4_operating_income:upside/formula/refs/1 | None | upside_2026q4_operating_costs |
| /operating_model/cells/upside_2026q4_operating_income:upside/id | None | upside_2026q4_operating_income |
| /operating_model/cells/upside_2026q4_operating_income:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_operating_income:upside/label | None | Operating income proxy |
| /operating_model/cells/upside_2026q4_operating_income:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_operating_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_operating_income:upside/value | None | -73.608 |
| /operating_model/cells/upside_2026q4_other_investing:upside/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/upside_2026q4_other_investing:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_other_investing:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q4_other_investing:upside/formula/refs/0 | None | upside_2026q4_acquisition_cash |
| /operating_model/cells/upside_2026q4_other_investing:upside/formula/refs/1 | None | upside_2026q4_minority_investment |
| /operating_model/cells/upside_2026q4_other_investing:upside/id | None | upside_2026q4_other_investing |
| /operating_model/cells/upside_2026q4_other_investing:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_other_investing:upside/label | None | Acquisition and minority cash |
| /operating_model/cells/upside_2026q4_other_investing:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_other_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_other_investing:upside/value | None | 32.4 |
| /operating_model/cells/upside_2026q4_ownership_fraction:upside/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/upside_2026q4_ownership_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_ownership_fraction:upside/id | None | upside_2026q4_ownership_fraction |
| /operating_model/cells/upside_2026q4_ownership_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_ownership_fraction:upside/label | None | Consolidated fraction of quarter |
| /operating_model/cells/upside_2026q4_ownership_fraction:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_ownership_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q4_ownership_fraction:upside/value | None | 1.0 |
| /operating_model/cells/upside_2026q4_quarter_fraction:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_quarter_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_quarter_fraction:upside/id | None | upside_2026q4_quarter_fraction |
| /operating_model/cells/upside_2026q4_quarter_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_quarter_fraction:upside/label | None | Annual-to-quarter fraction |
| /operating_model/cells/upside_2026q4_quarter_fraction:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_quarter_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q4_quarter_fraction:upside/value | None | 0.25 |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/formula/refs/0 | None | upside_2026q4_average_capacity |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/formula/refs/1 | None | upside_2026q4_quarter_fraction |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/formula/refs/2 | None | upside_2026q4_mine_utilization |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/formula/refs/3 | None | upside_2026q4_ownership_fraction |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/id | None | upside_2026q4_recognized_tonnes |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q4_recognized_tonnes:upside/value | None | 840.0 |
| /operating_model/cells/upside_2026q4_revenue:upside/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/upside_2026q4_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q4_revenue:upside/formula/refs/0 | None | upside_2026q4_legacy_revenue |
| /operating_model/cells/upside_2026q4_revenue:upside/formula/refs/1 | None | upside_2026q4_mine_revenue |
| /operating_model/cells/upside_2026q4_revenue:upside/formula/refs/2 | None | upside_2026q4_magnet_revenue |
| /operating_model/cells/upside_2026q4_revenue:upside/id | None | upside_2026q4_revenue |
| /operating_model/cells/upside_2026q4_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_revenue:upside/label | None | Consolidated revenue |
| /operating_model/cells/upside_2026q4_revenue:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_revenue:upside/value | None | 43.56 |
| /operating_model/cells/upside_2026q4_royalty_cash:upside/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/upside_2026q4_royalty_cash:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_royalty_cash:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q4_royalty_cash:upside/formula/refs/0 | None | upside_2026q4_royalty_variable |
| /operating_model/cells/upside_2026q4_royalty_cash:upside/formula/refs/1 | None | upside_2026q4_royalty_topup |
| /operating_model/cells/upside_2026q4_royalty_cash:upside/id | None | upside_2026q4_royalty_cash |
| /operating_model/cells/upside_2026q4_royalty_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_royalty_cash:upside/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/upside_2026q4_royalty_cash:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_royalty_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_royalty_cash:upside/value | None | 6.6758 |
| /operating_model/cells/upside_2026q4_royalty_topup:upside/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/upside_2026q4_royalty_topup:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_royalty_topup:upside/id | None | upside_2026q4_royalty_topup |
| /operating_model/cells/upside_2026q4_royalty_topup:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_royalty_topup:upside/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/upside_2026q4_royalty_topup:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_royalty_topup:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_royalty_topup:upside/value | None | 5.0 |
| /operating_model/cells/upside_2026q4_royalty_variable:upside/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/upside_2026q4_royalty_variable:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_royalty_variable:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q4_royalty_variable:upside/formula/refs/0 | None | upside_2026q4_mine_revenue |
| /operating_model/cells/upside_2026q4_royalty_variable:upside/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/upside_2026q4_royalty_variable:upside/id | None | upside_2026q4_royalty_variable |
| /operating_model/cells/upside_2026q4_royalty_variable:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_royalty_variable:upside/label | None | Variable mine royalty |
| /operating_model/cells/upside_2026q4_royalty_variable:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_royalty_variable:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_royalty_variable:upside/value | None | 1.6757999999999997 |
| /operating_model/cells/upside_2026q4_sbc:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_sbc:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_sbc:upside/id | None | upside_2026q4_sbc |
| /operating_model/cells/upside_2026q4_sbc:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_sbc:upside/label | None | Operating SBC |
| /operating_model/cells/upside_2026q4_sbc:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_sbc:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_sbc:upside/value | None | 9.0 |
| /operating_model/cells/upside_2026q4_transaction_cost:upside/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/upside_2026q4_transaction_cost:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_transaction_cost:upside/id | None | upside_2026q4_transaction_cost |
| /operating_model/cells/upside_2026q4_transaction_cost:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_transaction_cost:upside/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/upside_2026q4_transaction_cost:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_transaction_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_transaction_cost:upside/value | None | 20.0 |
| /operating_model/cells/upside_2026q4_treasury_income:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_treasury_income:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_treasury_income:upside/id | None | upside_2026q4_treasury_income |
| /operating_model/cells/upside_2026q4_treasury_income:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_treasury_income:upside/label | None | Cash treasury income |
| /operating_model/cells/upside_2026q4_treasury_income:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_treasury_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_treasury_income:upside/value | None | 10.0 |
| /operating_model/cells/upside_2026q4_treo_price:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_treo_price:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_treo_price:upside/id | None | upside_2026q4_treo_price |
| /operating_model/cells/upside_2026q4_treo_price:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_treo_price:upside/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/upside_2026q4_treo_price:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_treo_price:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_treo_price:upside/value | None | 0.038 |
| /operating_model/cells/upside_2026q4_working_capital:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2026q4_working_capital:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_working_capital:upside/id | None | upside_2026q4_working_capital |
| /operating_model/cells/upside_2026q4_working_capital:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_working_capital:upside/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/upside_2026q4_working_capital:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_working_capital:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_working_capital:upside/value | None | 20.0 |
| /operating_model/cells/upside_2027q1_acquired_cash:upside/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/upside_2027q1_acquired_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_acquired_cash:upside/id | None | upside_2027q1_acquired_cash |
| /operating_model/cells/upside_2027q1_acquired_cash:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_acquired_cash:upside/label | None | Cash acquired at closing |
| /operating_model/cells/upside_2027q1_acquired_cash:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_acquired_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_acquired_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q1_acquisition_cash:upside/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/upside_2027q1_acquisition_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_acquisition_cash:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q1_acquisition_cash:upside/formula/refs/0 | None | upside_2027q1_new_acquisition |
| /operating_model/cells/upside_2027q1_acquisition_cash:upside/formula/refs/1 | None | upside_2027q1_acquired_cash |
| /operating_model/cells/upside_2027q1_acquisition_cash:upside/id | None | upside_2027q1_acquisition_cash |
| /operating_model/cells/upside_2027q1_acquisition_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_acquisition_cash:upside/label | None | Net acquisition cash |
| /operating_model/cells/upside_2027q1_acquisition_cash:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_acquisition_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_acquisition_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q1_average_capacity:upside/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/upside_2027q1_average_capacity:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_average_capacity:upside/id | None | upside_2027q1_average_capacity |
| /operating_model/cells/upside_2027q1_average_capacity:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_average_capacity:upside/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/upside_2027q1_average_capacity:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_average_capacity:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q1_average_capacity:upside/value | None | 4400.0 |
| /operating_model/cells/upside_2027q1_capex:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_capex:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_capex:upside/id | None | upside_2027q1_capex |
| /operating_model/cells/upside_2027q1_capex:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_capex:upside/label | None | Cash capex and equipment deposits |
| /operating_model/cells/upside_2027q1_capex:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_capex:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_capex:upside/value | None | 160.0 |
| /operating_model/cells/upside_2027q1_cash_after_investing:upside/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/upside_2027q1_cash_after_investing:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_cash_after_investing:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q1_cash_after_investing:upside/formula/refs/0 | None | upside_2027q1_fcf |
| /operating_model/cells/upside_2027q1_cash_after_investing:upside/formula/refs/1 | None | upside_2027q1_other_investing |
| /operating_model/cells/upside_2027q1_cash_after_investing:upside/id | None | upside_2027q1_cash_after_investing |
| /operating_model/cells/upside_2027q1_cash_after_investing:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_cash_after_investing:upside/label | None | Cash after business investing |
| /operating_model/cells/upside_2027q1_cash_after_investing:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_cash_after_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_cash_after_investing:upside/value | None | -220.99455 |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/formula/refs/0 | None | upside_2027q1_operating_income |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/formula/refs/1 | None | upside_2027q1_da |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/formula/refs/2 | None | upside_2027q1_sbc |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/formula/refs/3 | None | upside_2027q1_treasury_income |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/id | None | upside_2027q1_cash_earnings |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_cash_earnings:upside/value | None | -29.807049999999997 |
| /operating_model/cells/upside_2027q1_cash_overhead:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_cash_overhead:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_cash_overhead:upside/id | None | upside_2027q1_cash_overhead |
| /operating_model/cells/upside_2027q1_cash_overhead:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_cash_overhead:upside/label | None | Cash SG&A and development |
| /operating_model/cells/upside_2027q1_cash_overhead:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_cash_overhead:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_cash_overhead:upside/value | None | 43.699999999999996 |
| /operating_model/cells/upside_2027q1_cash_tax:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_cash_tax:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_cash_tax:upside/id | None | upside_2027q1_cash_tax |
| /operating_model/cells/upside_2027q1_cash_tax:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_cash_tax:upside/label | None | Cash taxes |
| /operating_model/cells/upside_2027q1_cash_tax:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_cash_tax:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_cash_tax:upside/value | None | 0.5 |
| /operating_model/cells/upside_2027q1_cfo:upside/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/upside_2027q1_cfo:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_cfo:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q1_cfo:upside/formula/refs/0 | None | upside_2027q1_cash_earnings |
| /operating_model/cells/upside_2027q1_cfo:upside/formula/refs/1 | None | upside_2027q1_operating_cash_uses |
| /operating_model/cells/upside_2027q1_cfo:upside/id | None | upside_2027q1_cfo |
| /operating_model/cells/upside_2027q1_cfo:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_cfo:upside/label | None | Operating cash flow proxy |
| /operating_model/cells/upside_2027q1_cfo:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_cfo:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_cfo:upside/value | None | -60.99455 |
| /operating_model/cells/upside_2027q1_da:upside/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/upside_2027q1_da:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_da:upside/id | None | upside_2027q1_da |
| /operating_model/cells/upside_2027q1_da:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_da:upside/label | None | Consolidated operating D&A |
| /operating_model/cells/upside_2027q1_da:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_da:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_da:upside/value | None | 11.0 |
| /operating_model/cells/upside_2027q1_dfc_interest:upside/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/upside_2027q1_dfc_interest:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_dfc_interest:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q1_dfc_interest:upside/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/upside_2027q1_dfc_interest:upside/formula/refs/1 | None | upside_2027q1_dfc_rate |
| /operating_model/cells/upside_2027q1_dfc_interest:upside/formula/refs/2 | None | upside_2027q1_interest_fraction |
| /operating_model/cells/upside_2027q1_dfc_interest:upside/id | None | upside_2027q1_dfc_interest |
| /operating_model/cells/upside_2027q1_dfc_interest:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_dfc_interest:upside/label | None | DFC cash coupon proxy |
| /operating_model/cells/upside_2027q1_dfc_interest:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_dfc_interest:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_dfc_interest:upside/value | None | 5.687500000000001 |
| /operating_model/cells/upside_2027q1_dfc_rate:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_dfc_rate:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_dfc_rate:upside/id | None | upside_2027q1_dfc_rate |
| /operating_model/cells/upside_2027q1_dfc_rate:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_dfc_rate:upside/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/upside_2027q1_dfc_rate:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_dfc_rate:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q1_dfc_rate:upside/value | None | 0.07 |
| /operating_model/cells/upside_2027q1_fcf:upside/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/upside_2027q1_fcf:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_fcf:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q1_fcf:upside/formula/refs/0 | None | upside_2027q1_cfo |
| /operating_model/cells/upside_2027q1_fcf:upside/formula/refs/1 | None | upside_2027q1_capex |
| /operating_model/cells/upside_2027q1_fcf:upside/id | None | upside_2027q1_fcf |
| /operating_model/cells/upside_2027q1_fcf:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_fcf:upside/label | None | CFO less cash capital investment |
| /operating_model/cells/upside_2027q1_fcf:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_fcf:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_fcf:upside/value | None | -220.99455 |
| /operating_model/cells/upside_2027q1_gross_contribution:upside/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/upside_2027q1_gross_contribution:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_gross_contribution:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q1_gross_contribution:upside/formula/refs/0 | None | upside_2027q1_legacy_gross |
| /operating_model/cells/upside_2027q1_gross_contribution:upside/formula/refs/1 | None | upside_2027q1_mine_gross |
| /operating_model/cells/upside_2027q1_gross_contribution:upside/formula/refs/2 | None | upside_2027q1_magnet_gross |
| /operating_model/cells/upside_2027q1_gross_contribution:upside/id | None | upside_2027q1_gross_contribution |
| /operating_model/cells/upside_2027q1_gross_contribution:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_gross_contribution:upside/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/upside_2027q1_gross_contribution:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_gross_contribution:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_gross_contribution:upside/value | None | 13.868 |
| /operating_model/cells/upside_2027q1_interest_fraction:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_interest_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_interest_fraction:upside/id | None | upside_2027q1_interest_fraction |
| /operating_model/cells/upside_2027q1_interest_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_interest_fraction:upside/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/upside_2027q1_interest_fraction:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_interest_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q1_interest_fraction:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q1_legacy_gross:upside/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/upside_2027q1_legacy_gross:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_legacy_gross:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q1_legacy_gross:upside/formula/refs/0 | None | upside_2027q1_legacy_revenue |
| /operating_model/cells/upside_2027q1_legacy_gross:upside/formula/refs/1 | None | upside_2027q1_legacy_margin |
| /operating_model/cells/upside_2027q1_legacy_gross:upside/id | None | upside_2027q1_legacy_gross |
| /operating_model/cells/upside_2027q1_legacy_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_legacy_gross:upside/label | None | Legacy cash gross contribution |
| /operating_model/cells/upside_2027q1_legacy_gross:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_legacy_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_legacy_gross:upside/value | None | 3.0 |
| /operating_model/cells/upside_2027q1_legacy_margin:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_legacy_margin:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_legacy_margin:upside/id | None | upside_2027q1_legacy_margin |
| /operating_model/cells/upside_2027q1_legacy_margin:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_legacy_margin:upside/label | None | Legacy margin before D&A |
| /operating_model/cells/upside_2027q1_legacy_margin:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_legacy_margin:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q1_legacy_margin:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q1_legacy_revenue:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_legacy_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_legacy_revenue:upside/id | None | upside_2027q1_legacy_revenue |
| /operating_model/cells/upside_2027q1_legacy_revenue:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_legacy_revenue:upside/label | None | Legacy alloy and services revenue |
| /operating_model/cells/upside_2027q1_legacy_revenue:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_legacy_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_legacy_revenue:upside/value | None | 12.0 |
| /operating_model/cells/upside_2027q1_magnet_gross:upside/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/upside_2027q1_magnet_gross:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_magnet_gross:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q1_magnet_gross:upside/formula/refs/0 | None | upside_2027q1_magnet_revenue |
| /operating_model/cells/upside_2027q1_magnet_gross:upside/formula/refs/1 | None | upside_2027q1_magnet_margin |
| /operating_model/cells/upside_2027q1_magnet_gross:upside/id | None | upside_2027q1_magnet_gross |
| /operating_model/cells/upside_2027q1_magnet_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_magnet_gross:upside/label | None | Magnet ramp cash contribution |
| /operating_model/cells/upside_2027q1_magnet_gross:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_magnet_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_magnet_gross:upside/value | None | -3.1350000000000002 |
| /operating_model/cells/upside_2027q1_magnet_margin:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_magnet_margin:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_magnet_margin:upside/id | None | upside_2027q1_magnet_margin |
| /operating_model/cells/upside_2027q1_magnet_margin:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_magnet_margin:upside/label | None | Magnet cash gross margin |
| /operating_model/cells/upside_2027q1_magnet_margin:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_magnet_margin:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q1_magnet_margin:upside/value | None | -0.475 |
| /operating_model/cells/upside_2027q1_magnet_price:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_magnet_price:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_magnet_price:upside/id | None | upside_2027q1_magnet_price |
| /operating_model/cells/upside_2027q1_magnet_price:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_magnet_price:upside/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/upside_2027q1_magnet_price:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_magnet_price:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_magnet_price:upside/value | None | 0.066 |
| /operating_model/cells/upside_2027q1_magnet_revenue:upside/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/upside_2027q1_magnet_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_magnet_revenue:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q1_magnet_revenue:upside/formula/refs/0 | None | upside_2027q1_magnet_tonnes |
| /operating_model/cells/upside_2027q1_magnet_revenue:upside/formula/refs/1 | None | upside_2027q1_magnet_price |
| /operating_model/cells/upside_2027q1_magnet_revenue:upside/id | None | upside_2027q1_magnet_revenue |
| /operating_model/cells/upside_2027q1_magnet_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_magnet_revenue:upside/label | None | Accepted magnet sales |
| /operating_model/cells/upside_2027q1_magnet_revenue:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_magnet_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_magnet_revenue:upside/value | None | 6.6000000000000005 |
| /operating_model/cells/upside_2027q1_magnet_tonnes:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_magnet_tonnes:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_magnet_tonnes:upside/id | None | upside_2027q1_magnet_tonnes |
| /operating_model/cells/upside_2027q1_magnet_tonnes:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_magnet_tonnes:upside/label | None | Accepted external magnet tonnes |
| /operating_model/cells/upside_2027q1_magnet_tonnes:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_magnet_tonnes:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q1_magnet_tonnes:upside/value | None | 100.0 |
| /operating_model/cells/upside_2027q1_mine_cash_cost:upside/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/upside_2027q1_mine_cash_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_mine_cash_cost:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q1_mine_cash_cost:upside/formula/refs/0 | None | upside_2027q1_mine_variable_cost |
| /operating_model/cells/upside_2027q1_mine_cash_cost:upside/formula/refs/1 | None | upside_2027q1_mine_fixed_cost |
| /operating_model/cells/upside_2027q1_mine_cash_cost:upside/id | None | upside_2027q1_mine_cash_cost |
| /operating_model/cells/upside_2027q1_mine_cash_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_mine_cash_cost:upside/label | None | Mine cash production cost |
| /operating_model/cells/upside_2027q1_mine_cash_cost:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_mine_cash_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_mine_cash_cost:upside/value | None | 23.616999999999997 |
| /operating_model/cells/upside_2027q1_mine_fixed_cost:upside/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/upside_2027q1_mine_fixed_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_mine_fixed_cost:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q1_mine_fixed_cost:upside/formula/refs/0 | None | upside_2027q1_mine_fixed_full |
| /operating_model/cells/upside_2027q1_mine_fixed_cost:upside/formula/refs/1 | None | upside_2027q1_ownership_fraction |
| /operating_model/cells/upside_2027q1_mine_fixed_cost:upside/id | None | upside_2027q1_mine_fixed_cost |
| /operating_model/cells/upside_2027q1_mine_fixed_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_mine_fixed_cost:upside/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/upside_2027q1_mine_fixed_cost:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_mine_fixed_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_mine_fixed_cost:upside/value | None | 10.45 |
| /operating_model/cells/upside_2027q1_mine_fixed_full:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_mine_fixed_full:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_mine_fixed_full:upside/id | None | upside_2027q1_mine_fixed_full |
| /operating_model/cells/upside_2027q1_mine_fixed_full:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_mine_fixed_full:upside/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/upside_2027q1_mine_fixed_full:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_mine_fixed_full:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_mine_fixed_full:upside/value | None | 10.45 |
| /operating_model/cells/upside_2027q1_mine_gross:upside/basis | None | Royalty below contribution. |
| /operating_model/cells/upside_2027q1_mine_gross:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_mine_gross:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q1_mine_gross:upside/formula/refs/0 | None | upside_2027q1_mine_revenue |
| /operating_model/cells/upside_2027q1_mine_gross:upside/formula/refs/1 | None | upside_2027q1_mine_cash_cost |
| /operating_model/cells/upside_2027q1_mine_gross:upside/id | None | upside_2027q1_mine_gross |
| /operating_model/cells/upside_2027q1_mine_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_mine_gross:upside/label | None | Mine revenue less cash production |
| /operating_model/cells/upside_2027q1_mine_gross:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_mine_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_mine_gross:upside/value | None | 14.003 |
| /operating_model/cells/upside_2027q1_mine_revenue:upside/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/upside_2027q1_mine_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_mine_revenue:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q1_mine_revenue:upside/formula/refs/0 | None | upside_2027q1_recognized_tonnes |
| /operating_model/cells/upside_2027q1_mine_revenue:upside/formula/refs/1 | None | upside_2027q1_treo_price |
| /operating_model/cells/upside_2027q1_mine_revenue:upside/id | None | upside_2027q1_mine_revenue |
| /operating_model/cells/upside_2027q1_mine_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_mine_revenue:upside/label | None | Post-close TREO revenue |
| /operating_model/cells/upside_2027q1_mine_revenue:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_mine_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_mine_revenue:upside/value | None | 37.62 |
| /operating_model/cells/upside_2027q1_mine_unit_cost:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_mine_unit_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_mine_unit_cost:upside/id | None | upside_2027q1_mine_unit_cost |
| /operating_model/cells/upside_2027q1_mine_unit_cost:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_mine_unit_cost:upside/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/upside_2027q1_mine_unit_cost:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_mine_unit_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_mine_unit_cost:upside/value | None | 0.0133 |
| /operating_model/cells/upside_2027q1_mine_utilization:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_mine_utilization:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_mine_utilization:upside/id | None | upside_2027q1_mine_utilization |
| /operating_model/cells/upside_2027q1_mine_utilization:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_mine_utilization:upside/label | None | Capacity to recognized sales factor |
| /operating_model/cells/upside_2027q1_mine_utilization:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_mine_utilization:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q1_mine_utilization:upside/value | None | 0.9 |
| /operating_model/cells/upside_2027q1_mine_variable_cost:upside/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/upside_2027q1_mine_variable_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_mine_variable_cost:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q1_mine_variable_cost:upside/formula/refs/0 | None | upside_2027q1_recognized_tonnes |
| /operating_model/cells/upside_2027q1_mine_variable_cost:upside/formula/refs/1 | None | upside_2027q1_mine_unit_cost |
| /operating_model/cells/upside_2027q1_mine_variable_cost:upside/id | None | upside_2027q1_mine_variable_cost |
| /operating_model/cells/upside_2027q1_mine_variable_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_mine_variable_cost:upside/label | None | Variable mine cash cost |
| /operating_model/cells/upside_2027q1_mine_variable_cost:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_mine_variable_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_mine_variable_cost:upside/value | None | 13.167 |
| /operating_model/cells/upside_2027q1_minority_investment:upside/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/upside_2027q1_minority_investment:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_minority_investment:upside/id | None | upside_2027q1_minority_investment |
| /operating_model/cells/upside_2027q1_minority_investment:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_minority_investment:upside/label | None | Carester minority investment cash |
| /operating_model/cells/upside_2027q1_minority_investment:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_minority_investment:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_minority_investment:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q1_new_acquisition:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_new_acquisition:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_new_acquisition:upside/id | None | upside_2027q1_new_acquisition |
| /operating_model/cells/upside_2027q1_new_acquisition:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_new_acquisition:upside/label | None | Other acquisition purchase cash |
| /operating_model/cells/upside_2027q1_new_acquisition:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_new_acquisition:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_new_acquisition:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q1_operating_cash_uses:upside/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/upside_2027q1_operating_cash_uses:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_operating_cash_uses:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q1_operating_cash_uses:upside/formula/refs/0 | None | upside_2027q1_dfc_interest |
| /operating_model/cells/upside_2027q1_operating_cash_uses:upside/formula/refs/1 | None | upside_2027q1_cash_tax |
| /operating_model/cells/upside_2027q1_operating_cash_uses:upside/formula/refs/2 | None | upside_2027q1_working_capital |
| /operating_model/cells/upside_2027q1_operating_cash_uses:upside/id | None | upside_2027q1_operating_cash_uses |
| /operating_model/cells/upside_2027q1_operating_cash_uses:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_operating_cash_uses:upside/label | None | Interest tax and working-capital use |
| /operating_model/cells/upside_2027q1_operating_cash_uses:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_operating_cash_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_operating_cash_uses:upside/value | None | 31.1875 |
| /operating_model/cells/upside_2027q1_operating_costs:upside/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/upside_2027q1_operating_costs:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_operating_costs:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q1_operating_costs:upside/formula/refs/0 | None | upside_2027q1_cash_overhead |
| /operating_model/cells/upside_2027q1_operating_costs:upside/formula/refs/1 | None | upside_2027q1_royalty_cash |
| /operating_model/cells/upside_2027q1_operating_costs:upside/formula/refs/2 | None | upside_2027q1_da |
| /operating_model/cells/upside_2027q1_operating_costs:upside/formula/refs/3 | None | upside_2027q1_sbc |
| /operating_model/cells/upside_2027q1_operating_costs:upside/formula/refs/4 | None | upside_2027q1_transaction_cost |
| /operating_model/cells/upside_2027q1_operating_costs:upside/id | None | upside_2027q1_operating_costs |
| /operating_model/cells/upside_2027q1_operating_costs:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_operating_costs:upside/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/upside_2027q1_operating_costs:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_operating_costs:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_operating_costs:upside/value | None | 71.67505 |
| /operating_model/cells/upside_2027q1_operating_income:upside/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/upside_2027q1_operating_income:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_operating_income:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q1_operating_income:upside/formula/refs/0 | None | upside_2027q1_gross_contribution |
| /operating_model/cells/upside_2027q1_operating_income:upside/formula/refs/1 | None | upside_2027q1_operating_costs |
| /operating_model/cells/upside_2027q1_operating_income:upside/id | None | upside_2027q1_operating_income |
| /operating_model/cells/upside_2027q1_operating_income:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_operating_income:upside/label | None | Operating income proxy |
| /operating_model/cells/upside_2027q1_operating_income:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_operating_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_operating_income:upside/value | None | -57.80705 |
| /operating_model/cells/upside_2027q1_other_investing:upside/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/upside_2027q1_other_investing:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_other_investing:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q1_other_investing:upside/formula/refs/0 | None | upside_2027q1_acquisition_cash |
| /operating_model/cells/upside_2027q1_other_investing:upside/formula/refs/1 | None | upside_2027q1_minority_investment |
| /operating_model/cells/upside_2027q1_other_investing:upside/id | None | upside_2027q1_other_investing |
| /operating_model/cells/upside_2027q1_other_investing:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_other_investing:upside/label | None | Acquisition and minority cash |
| /operating_model/cells/upside_2027q1_other_investing:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_other_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_other_investing:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q1_ownership_fraction:upside/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/upside_2027q1_ownership_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_ownership_fraction:upside/id | None | upside_2027q1_ownership_fraction |
| /operating_model/cells/upside_2027q1_ownership_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_ownership_fraction:upside/label | None | Consolidated fraction of quarter |
| /operating_model/cells/upside_2027q1_ownership_fraction:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_ownership_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q1_ownership_fraction:upside/value | None | 1.0 |
| /operating_model/cells/upside_2027q1_quarter_fraction:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_quarter_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_quarter_fraction:upside/id | None | upside_2027q1_quarter_fraction |
| /operating_model/cells/upside_2027q1_quarter_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_quarter_fraction:upside/label | None | Annual-to-quarter fraction |
| /operating_model/cells/upside_2027q1_quarter_fraction:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_quarter_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q1_quarter_fraction:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/formula/refs/0 | None | upside_2027q1_average_capacity |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/formula/refs/1 | None | upside_2027q1_quarter_fraction |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/formula/refs/2 | None | upside_2027q1_mine_utilization |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/formula/refs/3 | None | upside_2027q1_ownership_fraction |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/id | None | upside_2027q1_recognized_tonnes |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q1_recognized_tonnes:upside/value | None | 990.0 |
| /operating_model/cells/upside_2027q1_revenue:upside/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/upside_2027q1_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q1_revenue:upside/formula/refs/0 | None | upside_2027q1_legacy_revenue |
| /operating_model/cells/upside_2027q1_revenue:upside/formula/refs/1 | None | upside_2027q1_mine_revenue |
| /operating_model/cells/upside_2027q1_revenue:upside/formula/refs/2 | None | upside_2027q1_magnet_revenue |
| /operating_model/cells/upside_2027q1_revenue:upside/id | None | upside_2027q1_revenue |
| /operating_model/cells/upside_2027q1_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_revenue:upside/label | None | Consolidated revenue |
| /operating_model/cells/upside_2027q1_revenue:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_revenue:upside/value | None | 56.22 |
| /operating_model/cells/upside_2027q1_royalty_cash:upside/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/upside_2027q1_royalty_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_royalty_cash:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q1_royalty_cash:upside/formula/refs/0 | None | upside_2027q1_royalty_variable |
| /operating_model/cells/upside_2027q1_royalty_cash:upside/formula/refs/1 | None | upside_2027q1_royalty_topup |
| /operating_model/cells/upside_2027q1_royalty_cash:upside/id | None | upside_2027q1_royalty_cash |
| /operating_model/cells/upside_2027q1_royalty_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_royalty_cash:upside/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/upside_2027q1_royalty_cash:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_royalty_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_royalty_cash:upside/value | None | 6.9750499999999995 |
| /operating_model/cells/upside_2027q1_royalty_topup:upside/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/upside_2027q1_royalty_topup:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_royalty_topup:upside/id | None | upside_2027q1_royalty_topup |
| /operating_model/cells/upside_2027q1_royalty_topup:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_royalty_topup:upside/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/upside_2027q1_royalty_topup:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_royalty_topup:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_royalty_topup:upside/value | None | 5.0 |
| /operating_model/cells/upside_2027q1_royalty_variable:upside/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/upside_2027q1_royalty_variable:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_royalty_variable:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q1_royalty_variable:upside/formula/refs/0 | None | upside_2027q1_mine_revenue |
| /operating_model/cells/upside_2027q1_royalty_variable:upside/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/upside_2027q1_royalty_variable:upside/id | None | upside_2027q1_royalty_variable |
| /operating_model/cells/upside_2027q1_royalty_variable:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_royalty_variable:upside/label | None | Variable mine royalty |
| /operating_model/cells/upside_2027q1_royalty_variable:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_royalty_variable:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_royalty_variable:upside/value | None | 1.9750499999999998 |
| /operating_model/cells/upside_2027q1_sbc:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_sbc:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_sbc:upside/id | None | upside_2027q1_sbc |
| /operating_model/cells/upside_2027q1_sbc:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_sbc:upside/label | None | Operating SBC |
| /operating_model/cells/upside_2027q1_sbc:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_sbc:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_sbc:upside/value | None | 10.0 |
| /operating_model/cells/upside_2027q1_transaction_cost:upside/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/upside_2027q1_transaction_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_transaction_cost:upside/id | None | upside_2027q1_transaction_cost |
| /operating_model/cells/upside_2027q1_transaction_cost:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_transaction_cost:upside/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/upside_2027q1_transaction_cost:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_transaction_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_transaction_cost:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q1_treasury_income:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_treasury_income:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_treasury_income:upside/id | None | upside_2027q1_treasury_income |
| /operating_model/cells/upside_2027q1_treasury_income:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_treasury_income:upside/label | None | Cash treasury income |
| /operating_model/cells/upside_2027q1_treasury_income:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_treasury_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_treasury_income:upside/value | None | 7.0 |
| /operating_model/cells/upside_2027q1_treo_price:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_treo_price:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_treo_price:upside/id | None | upside_2027q1_treo_price |
| /operating_model/cells/upside_2027q1_treo_price:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_treo_price:upside/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/upside_2027q1_treo_price:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_treo_price:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_treo_price:upside/value | None | 0.038 |
| /operating_model/cells/upside_2027q1_working_capital:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q1_working_capital:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_working_capital:upside/id | None | upside_2027q1_working_capital |
| /operating_model/cells/upside_2027q1_working_capital:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_working_capital:upside/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/upside_2027q1_working_capital:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_working_capital:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_working_capital:upside/value | None | 25.0 |
| /operating_model/cells/upside_2027q2_acquired_cash:upside/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/upside_2027q2_acquired_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_acquired_cash:upside/id | None | upside_2027q2_acquired_cash |
| /operating_model/cells/upside_2027q2_acquired_cash:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_acquired_cash:upside/label | None | Cash acquired at closing |
| /operating_model/cells/upside_2027q2_acquired_cash:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_acquired_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_acquired_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q2_acquisition_cash:upside/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/upside_2027q2_acquisition_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_acquisition_cash:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q2_acquisition_cash:upside/formula/refs/0 | None | upside_2027q2_new_acquisition |
| /operating_model/cells/upside_2027q2_acquisition_cash:upside/formula/refs/1 | None | upside_2027q2_acquired_cash |
| /operating_model/cells/upside_2027q2_acquisition_cash:upside/id | None | upside_2027q2_acquisition_cash |
| /operating_model/cells/upside_2027q2_acquisition_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_acquisition_cash:upside/label | None | Net acquisition cash |
| /operating_model/cells/upside_2027q2_acquisition_cash:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_acquisition_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_acquisition_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q2_average_capacity:upside/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/upside_2027q2_average_capacity:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_average_capacity:upside/id | None | upside_2027q2_average_capacity |
| /operating_model/cells/upside_2027q2_average_capacity:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_average_capacity:upside/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/upside_2027q2_average_capacity:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_average_capacity:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q2_average_capacity:upside/value | None | 5200.0 |
| /operating_model/cells/upside_2027q2_capex:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_capex:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_capex:upside/id | None | upside_2027q2_capex |
| /operating_model/cells/upside_2027q2_capex:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_capex:upside/label | None | Cash capex and equipment deposits |
| /operating_model/cells/upside_2027q2_capex:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_capex:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_capex:upside/value | None | 190.0 |
| /operating_model/cells/upside_2027q2_cash_after_investing:upside/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/upside_2027q2_cash_after_investing:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_cash_after_investing:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q2_cash_after_investing:upside/formula/refs/0 | None | upside_2027q2_fcf |
| /operating_model/cells/upside_2027q2_cash_after_investing:upside/formula/refs/1 | None | upside_2027q2_other_investing |
| /operating_model/cells/upside_2027q2_cash_after_investing:upside/id | None | upside_2027q2_cash_after_investing |
| /operating_model/cells/upside_2027q2_cash_after_investing:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_cash_after_investing:upside/label | None | Cash after business investing |
| /operating_model/cells/upside_2027q2_cash_after_investing:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_cash_after_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_cash_after_investing:upside/value | None | -254.785825 |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/formula/refs/0 | None | upside_2027q2_operating_income |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/formula/refs/1 | None | upside_2027q2_da |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/formula/refs/2 | None | upside_2027q2_sbc |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/formula/refs/3 | None | upside_2027q2_treasury_income |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/id | None | upside_2027q2_cash_earnings |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_cash_earnings:upside/value | None | -28.598324999999996 |
| /operating_model/cells/upside_2027q2_cash_overhead:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_cash_overhead:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_cash_overhead:upside/id | None | upside_2027q2_cash_overhead |
| /operating_model/cells/upside_2027q2_cash_overhead:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_cash_overhead:upside/label | None | Cash SG&A and development |
| /operating_model/cells/upside_2027q2_cash_overhead:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_cash_overhead:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_cash_overhead:upside/value | None | 46.55 |
| /operating_model/cells/upside_2027q2_cash_tax:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_cash_tax:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_cash_tax:upside/id | None | upside_2027q2_cash_tax |
| /operating_model/cells/upside_2027q2_cash_tax:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_cash_tax:upside/label | None | Cash taxes |
| /operating_model/cells/upside_2027q2_cash_tax:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_cash_tax:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_cash_tax:upside/value | None | 0.5 |
| /operating_model/cells/upside_2027q2_cfo:upside/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/upside_2027q2_cfo:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_cfo:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q2_cfo:upside/formula/refs/0 | None | upside_2027q2_cash_earnings |
| /operating_model/cells/upside_2027q2_cfo:upside/formula/refs/1 | None | upside_2027q2_operating_cash_uses |
| /operating_model/cells/upside_2027q2_cfo:upside/id | None | upside_2027q2_cfo |
| /operating_model/cells/upside_2027q2_cfo:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_cfo:upside/label | None | Operating cash flow proxy |
| /operating_model/cells/upside_2027q2_cfo:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_cfo:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_cfo:upside/value | None | -64.78582499999999 |
| /operating_model/cells/upside_2027q2_da:upside/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/upside_2027q2_da:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_da:upside/id | None | upside_2027q2_da |
| /operating_model/cells/upside_2027q2_da:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_da:upside/label | None | Consolidated operating D&A |
| /operating_model/cells/upside_2027q2_da:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_da:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_da:upside/value | None | 14.0 |
| /operating_model/cells/upside_2027q2_dfc_interest:upside/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/upside_2027q2_dfc_interest:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_dfc_interest:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q2_dfc_interest:upside/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/upside_2027q2_dfc_interest:upside/formula/refs/1 | None | upside_2027q2_dfc_rate |
| /operating_model/cells/upside_2027q2_dfc_interest:upside/formula/refs/2 | None | upside_2027q2_interest_fraction |
| /operating_model/cells/upside_2027q2_dfc_interest:upside/id | None | upside_2027q2_dfc_interest |
| /operating_model/cells/upside_2027q2_dfc_interest:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_dfc_interest:upside/label | None | DFC cash coupon proxy |
| /operating_model/cells/upside_2027q2_dfc_interest:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_dfc_interest:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_dfc_interest:upside/value | None | 5.687500000000001 |
| /operating_model/cells/upside_2027q2_dfc_rate:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_dfc_rate:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_dfc_rate:upside/id | None | upside_2027q2_dfc_rate |
| /operating_model/cells/upside_2027q2_dfc_rate:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_dfc_rate:upside/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/upside_2027q2_dfc_rate:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_dfc_rate:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q2_dfc_rate:upside/value | None | 0.07 |
| /operating_model/cells/upside_2027q2_fcf:upside/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/upside_2027q2_fcf:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_fcf:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q2_fcf:upside/formula/refs/0 | None | upside_2027q2_cfo |
| /operating_model/cells/upside_2027q2_fcf:upside/formula/refs/1 | None | upside_2027q2_capex |
| /operating_model/cells/upside_2027q2_fcf:upside/id | None | upside_2027q2_fcf |
| /operating_model/cells/upside_2027q2_fcf:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_fcf:upside/label | None | CFO less cash capital investment |
| /operating_model/cells/upside_2027q2_fcf:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_fcf:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_fcf:upside/value | None | -254.785825 |
| /operating_model/cells/upside_2027q2_gross_contribution:upside/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/upside_2027q2_gross_contribution:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_gross_contribution:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q2_gross_contribution:upside/formula/refs/0 | None | upside_2027q2_legacy_gross |
| /operating_model/cells/upside_2027q2_gross_contribution:upside/formula/refs/1 | None | upside_2027q2_mine_gross |
| /operating_model/cells/upside_2027q2_gross_contribution:upside/formula/refs/2 | None | upside_2027q2_magnet_gross |
| /operating_model/cells/upside_2027q2_gross_contribution:upside/id | None | upside_2027q2_gross_contribution |
| /operating_model/cells/upside_2027q2_gross_contribution:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_gross_contribution:upside/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/upside_2027q2_gross_contribution:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_gross_contribution:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_gross_contribution:upside/value | None | 19.4155 |
| /operating_model/cells/upside_2027q2_interest_fraction:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_interest_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_interest_fraction:upside/id | None | upside_2027q2_interest_fraction |
| /operating_model/cells/upside_2027q2_interest_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_interest_fraction:upside/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/upside_2027q2_interest_fraction:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_interest_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q2_interest_fraction:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q2_legacy_gross:upside/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/upside_2027q2_legacy_gross:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_legacy_gross:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q2_legacy_gross:upside/formula/refs/0 | None | upside_2027q2_legacy_revenue |
| /operating_model/cells/upside_2027q2_legacy_gross:upside/formula/refs/1 | None | upside_2027q2_legacy_margin |
| /operating_model/cells/upside_2027q2_legacy_gross:upside/id | None | upside_2027q2_legacy_gross |
| /operating_model/cells/upside_2027q2_legacy_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_legacy_gross:upside/label | None | Legacy cash gross contribution |
| /operating_model/cells/upside_2027q2_legacy_gross:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_legacy_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_legacy_gross:upside/value | None | 3.75 |
| /operating_model/cells/upside_2027q2_legacy_margin:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_legacy_margin:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_legacy_margin:upside/id | None | upside_2027q2_legacy_margin |
| /operating_model/cells/upside_2027q2_legacy_margin:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_legacy_margin:upside/label | None | Legacy margin before D&A |
| /operating_model/cells/upside_2027q2_legacy_margin:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_legacy_margin:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q2_legacy_margin:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q2_legacy_revenue:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_legacy_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_legacy_revenue:upside/id | None | upside_2027q2_legacy_revenue |
| /operating_model/cells/upside_2027q2_legacy_revenue:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_legacy_revenue:upside/label | None | Legacy alloy and services revenue |
| /operating_model/cells/upside_2027q2_legacy_revenue:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_legacy_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_legacy_revenue:upside/value | None | 15.0 |
| /operating_model/cells/upside_2027q2_magnet_gross:upside/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/upside_2027q2_magnet_gross:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_magnet_gross:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q2_magnet_gross:upside/formula/refs/0 | None | upside_2027q2_magnet_revenue |
| /operating_model/cells/upside_2027q2_magnet_gross:upside/formula/refs/1 | None | upside_2027q2_magnet_margin |
| /operating_model/cells/upside_2027q2_magnet_gross:upside/id | None | upside_2027q2_magnet_gross |
| /operating_model/cells/upside_2027q2_magnet_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_magnet_gross:upside/label | None | Magnet ramp cash contribution |
| /operating_model/cells/upside_2027q2_magnet_gross:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_magnet_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_magnet_gross:upside/value | None | -4.389000000000001 |
| /operating_model/cells/upside_2027q2_magnet_margin:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_magnet_margin:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_magnet_margin:upside/id | None | upside_2027q2_magnet_margin |
| /operating_model/cells/upside_2027q2_magnet_margin:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_magnet_margin:upside/label | None | Magnet cash gross margin |
| /operating_model/cells/upside_2027q2_magnet_margin:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_magnet_margin:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q2_magnet_margin:upside/value | None | -0.3325000000000001 |
| /operating_model/cells/upside_2027q2_magnet_price:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_magnet_price:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_magnet_price:upside/id | None | upside_2027q2_magnet_price |
| /operating_model/cells/upside_2027q2_magnet_price:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_magnet_price:upside/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/upside_2027q2_magnet_price:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_magnet_price:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_magnet_price:upside/value | None | 0.066 |
| /operating_model/cells/upside_2027q2_magnet_revenue:upside/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/upside_2027q2_magnet_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_magnet_revenue:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q2_magnet_revenue:upside/formula/refs/0 | None | upside_2027q2_magnet_tonnes |
| /operating_model/cells/upside_2027q2_magnet_revenue:upside/formula/refs/1 | None | upside_2027q2_magnet_price |
| /operating_model/cells/upside_2027q2_magnet_revenue:upside/id | None | upside_2027q2_magnet_revenue |
| /operating_model/cells/upside_2027q2_magnet_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_magnet_revenue:upside/label | None | Accepted magnet sales |
| /operating_model/cells/upside_2027q2_magnet_revenue:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_magnet_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_magnet_revenue:upside/value | None | 13.200000000000001 |
| /operating_model/cells/upside_2027q2_magnet_tonnes:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_magnet_tonnes:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_magnet_tonnes:upside/id | None | upside_2027q2_magnet_tonnes |
| /operating_model/cells/upside_2027q2_magnet_tonnes:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_magnet_tonnes:upside/label | None | Accepted external magnet tonnes |
| /operating_model/cells/upside_2027q2_magnet_tonnes:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_magnet_tonnes:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q2_magnet_tonnes:upside/value | None | 200.0 |
| /operating_model/cells/upside_2027q2_mine_cash_cost:upside/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/upside_2027q2_mine_cash_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_mine_cash_cost:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q2_mine_cash_cost:upside/formula/refs/0 | None | upside_2027q2_mine_variable_cost |
| /operating_model/cells/upside_2027q2_mine_cash_cost:upside/formula/refs/1 | None | upside_2027q2_mine_fixed_cost |
| /operating_model/cells/upside_2027q2_mine_cash_cost:upside/id | None | upside_2027q2_mine_cash_cost |
| /operating_model/cells/upside_2027q2_mine_cash_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_mine_cash_cost:upside/label | None | Mine cash production cost |
| /operating_model/cells/upside_2027q2_mine_cash_cost:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_mine_cash_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_mine_cash_cost:upside/value | None | 26.8755 |
| /operating_model/cells/upside_2027q2_mine_fixed_cost:upside/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/upside_2027q2_mine_fixed_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_mine_fixed_cost:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q2_mine_fixed_cost:upside/formula/refs/0 | None | upside_2027q2_mine_fixed_full |
| /operating_model/cells/upside_2027q2_mine_fixed_cost:upside/formula/refs/1 | None | upside_2027q2_ownership_fraction |
| /operating_model/cells/upside_2027q2_mine_fixed_cost:upside/id | None | upside_2027q2_mine_fixed_cost |
| /operating_model/cells/upside_2027q2_mine_fixed_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_mine_fixed_cost:upside/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/upside_2027q2_mine_fixed_cost:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_mine_fixed_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_mine_fixed_cost:upside/value | None | 10.45 |
| /operating_model/cells/upside_2027q2_mine_fixed_full:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_mine_fixed_full:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_mine_fixed_full:upside/id | None | upside_2027q2_mine_fixed_full |
| /operating_model/cells/upside_2027q2_mine_fixed_full:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_mine_fixed_full:upside/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/upside_2027q2_mine_fixed_full:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_mine_fixed_full:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_mine_fixed_full:upside/value | None | 10.45 |
| /operating_model/cells/upside_2027q2_mine_gross:upside/basis | None | Royalty below contribution. |
| /operating_model/cells/upside_2027q2_mine_gross:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_mine_gross:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q2_mine_gross:upside/formula/refs/0 | None | upside_2027q2_mine_revenue |
| /operating_model/cells/upside_2027q2_mine_gross:upside/formula/refs/1 | None | upside_2027q2_mine_cash_cost |
| /operating_model/cells/upside_2027q2_mine_gross:upside/id | None | upside_2027q2_mine_gross |
| /operating_model/cells/upside_2027q2_mine_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_mine_gross:upside/label | None | Mine revenue less cash production |
| /operating_model/cells/upside_2027q2_mine_gross:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_mine_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_mine_gross:upside/value | None | 20.0545 |
| /operating_model/cells/upside_2027q2_mine_revenue:upside/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/upside_2027q2_mine_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_mine_revenue:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q2_mine_revenue:upside/formula/refs/0 | None | upside_2027q2_recognized_tonnes |
| /operating_model/cells/upside_2027q2_mine_revenue:upside/formula/refs/1 | None | upside_2027q2_treo_price |
| /operating_model/cells/upside_2027q2_mine_revenue:upside/id | None | upside_2027q2_mine_revenue |
| /operating_model/cells/upside_2027q2_mine_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_mine_revenue:upside/label | None | Post-close TREO revenue |
| /operating_model/cells/upside_2027q2_mine_revenue:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_mine_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_mine_revenue:upside/value | None | 46.93 |
| /operating_model/cells/upside_2027q2_mine_unit_cost:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_mine_unit_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_mine_unit_cost:upside/id | None | upside_2027q2_mine_unit_cost |
| /operating_model/cells/upside_2027q2_mine_unit_cost:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_mine_unit_cost:upside/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/upside_2027q2_mine_unit_cost:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_mine_unit_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_mine_unit_cost:upside/value | None | 0.0133 |
| /operating_model/cells/upside_2027q2_mine_utilization:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_mine_utilization:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_mine_utilization:upside/id | None | upside_2027q2_mine_utilization |
| /operating_model/cells/upside_2027q2_mine_utilization:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_mine_utilization:upside/label | None | Capacity to recognized sales factor |
| /operating_model/cells/upside_2027q2_mine_utilization:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_mine_utilization:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q2_mine_utilization:upside/value | None | 0.95 |
| /operating_model/cells/upside_2027q2_mine_variable_cost:upside/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/upside_2027q2_mine_variable_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_mine_variable_cost:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q2_mine_variable_cost:upside/formula/refs/0 | None | upside_2027q2_recognized_tonnes |
| /operating_model/cells/upside_2027q2_mine_variable_cost:upside/formula/refs/1 | None | upside_2027q2_mine_unit_cost |
| /operating_model/cells/upside_2027q2_mine_variable_cost:upside/id | None | upside_2027q2_mine_variable_cost |
| /operating_model/cells/upside_2027q2_mine_variable_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_mine_variable_cost:upside/label | None | Variable mine cash cost |
| /operating_model/cells/upside_2027q2_mine_variable_cost:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_mine_variable_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_mine_variable_cost:upside/value | None | 16.4255 |
| /operating_model/cells/upside_2027q2_minority_investment:upside/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/upside_2027q2_minority_investment:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_minority_investment:upside/id | None | upside_2027q2_minority_investment |
| /operating_model/cells/upside_2027q2_minority_investment:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_minority_investment:upside/label | None | Carester minority investment cash |
| /operating_model/cells/upside_2027q2_minority_investment:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_minority_investment:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_minority_investment:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q2_new_acquisition:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_new_acquisition:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_new_acquisition:upside/id | None | upside_2027q2_new_acquisition |
| /operating_model/cells/upside_2027q2_new_acquisition:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_new_acquisition:upside/label | None | Other acquisition purchase cash |
| /operating_model/cells/upside_2027q2_new_acquisition:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_new_acquisition:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_new_acquisition:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q2_operating_cash_uses:upside/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/upside_2027q2_operating_cash_uses:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_operating_cash_uses:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q2_operating_cash_uses:upside/formula/refs/0 | None | upside_2027q2_dfc_interest |
| /operating_model/cells/upside_2027q2_operating_cash_uses:upside/formula/refs/1 | None | upside_2027q2_cash_tax |
| /operating_model/cells/upside_2027q2_operating_cash_uses:upside/formula/refs/2 | None | upside_2027q2_working_capital |
| /operating_model/cells/upside_2027q2_operating_cash_uses:upside/id | None | upside_2027q2_operating_cash_uses |
| /operating_model/cells/upside_2027q2_operating_cash_uses:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_operating_cash_uses:upside/label | None | Interest tax and working-capital use |
| /operating_model/cells/upside_2027q2_operating_cash_uses:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_operating_cash_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_operating_cash_uses:upside/value | None | 36.1875 |
| /operating_model/cells/upside_2027q2_operating_costs:upside/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/upside_2027q2_operating_costs:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_operating_costs:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q2_operating_costs:upside/formula/refs/0 | None | upside_2027q2_cash_overhead |
| /operating_model/cells/upside_2027q2_operating_costs:upside/formula/refs/1 | None | upside_2027q2_royalty_cash |
| /operating_model/cells/upside_2027q2_operating_costs:upside/formula/refs/2 | None | upside_2027q2_da |
| /operating_model/cells/upside_2027q2_operating_costs:upside/formula/refs/3 | None | upside_2027q2_sbc |
| /operating_model/cells/upside_2027q2_operating_costs:upside/formula/refs/4 | None | upside_2027q2_transaction_cost |
| /operating_model/cells/upside_2027q2_operating_costs:upside/id | None | upside_2027q2_operating_costs |
| /operating_model/cells/upside_2027q2_operating_costs:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_operating_costs:upside/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/upside_2027q2_operating_costs:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_operating_costs:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_operating_costs:upside/value | None | 79.013825 |
| /operating_model/cells/upside_2027q2_operating_income:upside/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/upside_2027q2_operating_income:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_operating_income:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q2_operating_income:upside/formula/refs/0 | None | upside_2027q2_gross_contribution |
| /operating_model/cells/upside_2027q2_operating_income:upside/formula/refs/1 | None | upside_2027q2_operating_costs |
| /operating_model/cells/upside_2027q2_operating_income:upside/id | None | upside_2027q2_operating_income |
| /operating_model/cells/upside_2027q2_operating_income:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_operating_income:upside/label | None | Operating income proxy |
| /operating_model/cells/upside_2027q2_operating_income:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_operating_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_operating_income:upside/value | None | -59.598324999999996 |
| /operating_model/cells/upside_2027q2_other_investing:upside/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/upside_2027q2_other_investing:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_other_investing:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q2_other_investing:upside/formula/refs/0 | None | upside_2027q2_acquisition_cash |
| /operating_model/cells/upside_2027q2_other_investing:upside/formula/refs/1 | None | upside_2027q2_minority_investment |
| /operating_model/cells/upside_2027q2_other_investing:upside/id | None | upside_2027q2_other_investing |
| /operating_model/cells/upside_2027q2_other_investing:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_other_investing:upside/label | None | Acquisition and minority cash |
| /operating_model/cells/upside_2027q2_other_investing:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_other_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_other_investing:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q2_ownership_fraction:upside/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/upside_2027q2_ownership_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_ownership_fraction:upside/id | None | upside_2027q2_ownership_fraction |
| /operating_model/cells/upside_2027q2_ownership_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_ownership_fraction:upside/label | None | Consolidated fraction of quarter |
| /operating_model/cells/upside_2027q2_ownership_fraction:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_ownership_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q2_ownership_fraction:upside/value | None | 1.0 |
| /operating_model/cells/upside_2027q2_quarter_fraction:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_quarter_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_quarter_fraction:upside/id | None | upside_2027q2_quarter_fraction |
| /operating_model/cells/upside_2027q2_quarter_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_quarter_fraction:upside/label | None | Annual-to-quarter fraction |
| /operating_model/cells/upside_2027q2_quarter_fraction:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_quarter_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q2_quarter_fraction:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/formula/refs/0 | None | upside_2027q2_average_capacity |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/formula/refs/1 | None | upside_2027q2_quarter_fraction |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/formula/refs/2 | None | upside_2027q2_mine_utilization |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/formula/refs/3 | None | upside_2027q2_ownership_fraction |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/id | None | upside_2027q2_recognized_tonnes |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q2_recognized_tonnes:upside/value | None | 1235.0 |
| /operating_model/cells/upside_2027q2_revenue:upside/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/upside_2027q2_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q2_revenue:upside/formula/refs/0 | None | upside_2027q2_legacy_revenue |
| /operating_model/cells/upside_2027q2_revenue:upside/formula/refs/1 | None | upside_2027q2_mine_revenue |
| /operating_model/cells/upside_2027q2_revenue:upside/formula/refs/2 | None | upside_2027q2_magnet_revenue |
| /operating_model/cells/upside_2027q2_revenue:upside/id | None | upside_2027q2_revenue |
| /operating_model/cells/upside_2027q2_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_revenue:upside/label | None | Consolidated revenue |
| /operating_model/cells/upside_2027q2_revenue:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_revenue:upside/value | None | 75.13 |
| /operating_model/cells/upside_2027q2_royalty_cash:upside/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/upside_2027q2_royalty_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_royalty_cash:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q2_royalty_cash:upside/formula/refs/0 | None | upside_2027q2_royalty_variable |
| /operating_model/cells/upside_2027q2_royalty_cash:upside/formula/refs/1 | None | upside_2027q2_royalty_topup |
| /operating_model/cells/upside_2027q2_royalty_cash:upside/id | None | upside_2027q2_royalty_cash |
| /operating_model/cells/upside_2027q2_royalty_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_royalty_cash:upside/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/upside_2027q2_royalty_cash:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_royalty_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_royalty_cash:upside/value | None | 7.463825 |
| /operating_model/cells/upside_2027q2_royalty_topup:upside/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/upside_2027q2_royalty_topup:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_royalty_topup:upside/id | None | upside_2027q2_royalty_topup |
| /operating_model/cells/upside_2027q2_royalty_topup:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_royalty_topup:upside/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/upside_2027q2_royalty_topup:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_royalty_topup:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_royalty_topup:upside/value | None | 5.0 |
| /operating_model/cells/upside_2027q2_royalty_variable:upside/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/upside_2027q2_royalty_variable:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_royalty_variable:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q2_royalty_variable:upside/formula/refs/0 | None | upside_2027q2_mine_revenue |
| /operating_model/cells/upside_2027q2_royalty_variable:upside/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/upside_2027q2_royalty_variable:upside/id | None | upside_2027q2_royalty_variable |
| /operating_model/cells/upside_2027q2_royalty_variable:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_royalty_variable:upside/label | None | Variable mine royalty |
| /operating_model/cells/upside_2027q2_royalty_variable:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_royalty_variable:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_royalty_variable:upside/value | None | 2.463825 |
| /operating_model/cells/upside_2027q2_sbc:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_sbc:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_sbc:upside/id | None | upside_2027q2_sbc |
| /operating_model/cells/upside_2027q2_sbc:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_sbc:upside/label | None | Operating SBC |
| /operating_model/cells/upside_2027q2_sbc:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_sbc:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_sbc:upside/value | None | 11.0 |
| /operating_model/cells/upside_2027q2_transaction_cost:upside/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/upside_2027q2_transaction_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_transaction_cost:upside/id | None | upside_2027q2_transaction_cost |
| /operating_model/cells/upside_2027q2_transaction_cost:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_transaction_cost:upside/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/upside_2027q2_transaction_cost:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_transaction_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_transaction_cost:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q2_treasury_income:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_treasury_income:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_treasury_income:upside/id | None | upside_2027q2_treasury_income |
| /operating_model/cells/upside_2027q2_treasury_income:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_treasury_income:upside/label | None | Cash treasury income |
| /operating_model/cells/upside_2027q2_treasury_income:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_treasury_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_treasury_income:upside/value | None | 6.0 |
| /operating_model/cells/upside_2027q2_treo_price:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_treo_price:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_treo_price:upside/id | None | upside_2027q2_treo_price |
| /operating_model/cells/upside_2027q2_treo_price:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_treo_price:upside/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/upside_2027q2_treo_price:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_treo_price:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_treo_price:upside/value | None | 0.038 |
| /operating_model/cells/upside_2027q2_working_capital:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q2_working_capital:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_working_capital:upside/id | None | upside_2027q2_working_capital |
| /operating_model/cells/upside_2027q2_working_capital:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_working_capital:upside/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/upside_2027q2_working_capital:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_working_capital:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_working_capital:upside/value | None | 30.0 |
| /operating_model/cells/upside_2027q3_acquired_cash:upside/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/upside_2027q3_acquired_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_acquired_cash:upside/id | None | upside_2027q3_acquired_cash |
| /operating_model/cells/upside_2027q3_acquired_cash:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_acquired_cash:upside/label | None | Cash acquired at closing |
| /operating_model/cells/upside_2027q3_acquired_cash:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_acquired_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_acquired_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q3_acquisition_cash:upside/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/upside_2027q3_acquisition_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_acquisition_cash:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q3_acquisition_cash:upside/formula/refs/0 | None | upside_2027q3_new_acquisition |
| /operating_model/cells/upside_2027q3_acquisition_cash:upside/formula/refs/1 | None | upside_2027q3_acquired_cash |
| /operating_model/cells/upside_2027q3_acquisition_cash:upside/id | None | upside_2027q3_acquisition_cash |
| /operating_model/cells/upside_2027q3_acquisition_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_acquisition_cash:upside/label | None | Net acquisition cash |
| /operating_model/cells/upside_2027q3_acquisition_cash:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_acquisition_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_acquisition_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q3_average_capacity:upside/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/upside_2027q3_average_capacity:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_average_capacity:upside/id | None | upside_2027q3_average_capacity |
| /operating_model/cells/upside_2027q3_average_capacity:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_average_capacity:upside/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/upside_2027q3_average_capacity:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_average_capacity:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q3_average_capacity:upside/value | None | 6400.0 |
| /operating_model/cells/upside_2027q3_capex:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_capex:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_capex:upside/id | None | upside_2027q3_capex |
| /operating_model/cells/upside_2027q3_capex:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_capex:upside/label | None | Cash capex and equipment deposits |
| /operating_model/cells/upside_2027q3_capex:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_capex:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_capex:upside/value | None | 220.0 |
| /operating_model/cells/upside_2027q3_cash_after_investing:upside/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/upside_2027q3_cash_after_investing:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_cash_after_investing:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q3_cash_after_investing:upside/formula/refs/0 | None | upside_2027q3_fcf |
| /operating_model/cells/upside_2027q3_cash_after_investing:upside/formula/refs/1 | None | upside_2027q3_other_investing |
| /operating_model/cells/upside_2027q3_cash_after_investing:upside/id | None | upside_2027q3_cash_after_investing |
| /operating_model/cells/upside_2027q3_cash_after_investing:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_cash_after_investing:upside/label | None | Cash after business investing |
| /operating_model/cells/upside_2027q3_cash_after_investing:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_cash_after_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_cash_after_investing:upside/value | None | -285.7887 |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/formula/refs/0 | None | upside_2027q3_operating_income |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/formula/refs/1 | None | upside_2027q3_da |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/formula/refs/2 | None | upside_2027q3_sbc |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/formula/refs/3 | None | upside_2027q3_treasury_income |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/id | None | upside_2027q3_cash_earnings |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_cash_earnings:upside/value | None | -24.601200000000006 |
| /operating_model/cells/upside_2027q3_cash_overhead:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_cash_overhead:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_cash_overhead:upside/id | None | upside_2027q3_cash_overhead |
| /operating_model/cells/upside_2027q3_cash_overhead:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_cash_overhead:upside/label | None | Cash SG&A and development |
| /operating_model/cells/upside_2027q3_cash_overhead:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_cash_overhead:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_cash_overhead:upside/value | None | 49.4 |
| /operating_model/cells/upside_2027q3_cash_tax:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_cash_tax:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_cash_tax:upside/id | None | upside_2027q3_cash_tax |
| /operating_model/cells/upside_2027q3_cash_tax:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_cash_tax:upside/label | None | Cash taxes |
| /operating_model/cells/upside_2027q3_cash_tax:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_cash_tax:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_cash_tax:upside/value | None | 0.5 |
| /operating_model/cells/upside_2027q3_cfo:upside/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/upside_2027q3_cfo:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_cfo:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q3_cfo:upside/formula/refs/0 | None | upside_2027q3_cash_earnings |
| /operating_model/cells/upside_2027q3_cfo:upside/formula/refs/1 | None | upside_2027q3_operating_cash_uses |
| /operating_model/cells/upside_2027q3_cfo:upside/id | None | upside_2027q3_cfo |
| /operating_model/cells/upside_2027q3_cfo:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_cfo:upside/label | None | Operating cash flow proxy |
| /operating_model/cells/upside_2027q3_cfo:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_cfo:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_cfo:upside/value | None | -65.7887 |
| /operating_model/cells/upside_2027q3_da:upside/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/upside_2027q3_da:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_da:upside/id | None | upside_2027q3_da |
| /operating_model/cells/upside_2027q3_da:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_da:upside/label | None | Consolidated operating D&A |
| /operating_model/cells/upside_2027q3_da:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_da:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_da:upside/value | None | 17.0 |
| /operating_model/cells/upside_2027q3_dfc_interest:upside/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/upside_2027q3_dfc_interest:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_dfc_interest:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q3_dfc_interest:upside/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/upside_2027q3_dfc_interest:upside/formula/refs/1 | None | upside_2027q3_dfc_rate |
| /operating_model/cells/upside_2027q3_dfc_interest:upside/formula/refs/2 | None | upside_2027q3_interest_fraction |
| /operating_model/cells/upside_2027q3_dfc_interest:upside/id | None | upside_2027q3_dfc_interest |
| /operating_model/cells/upside_2027q3_dfc_interest:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_dfc_interest:upside/label | None | DFC cash coupon proxy |
| /operating_model/cells/upside_2027q3_dfc_interest:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_dfc_interest:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_dfc_interest:upside/value | None | 5.687500000000001 |
| /operating_model/cells/upside_2027q3_dfc_rate:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_dfc_rate:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_dfc_rate:upside/id | None | upside_2027q3_dfc_rate |
| /operating_model/cells/upside_2027q3_dfc_rate:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_dfc_rate:upside/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/upside_2027q3_dfc_rate:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_dfc_rate:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q3_dfc_rate:upside/value | None | 0.07 |
| /operating_model/cells/upside_2027q3_fcf:upside/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/upside_2027q3_fcf:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_fcf:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q3_fcf:upside/formula/refs/0 | None | upside_2027q3_cfo |
| /operating_model/cells/upside_2027q3_fcf:upside/formula/refs/1 | None | upside_2027q3_capex |
| /operating_model/cells/upside_2027q3_fcf:upside/id | None | upside_2027q3_fcf |
| /operating_model/cells/upside_2027q3_fcf:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_fcf:upside/label | None | CFO less cash capital investment |
| /operating_model/cells/upside_2027q3_fcf:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_fcf:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_fcf:upside/value | None | -285.7887 |
| /operating_model/cells/upside_2027q3_gross_contribution:upside/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/upside_2027q3_gross_contribution:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_gross_contribution:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q3_gross_contribution:upside/formula/refs/0 | None | upside_2027q3_legacy_gross |
| /operating_model/cells/upside_2027q3_gross_contribution:upside/formula/refs/1 | None | upside_2027q3_mine_gross |
| /operating_model/cells/upside_2027q3_gross_contribution:upside/formula/refs/2 | None | upside_2027q3_magnet_gross |
| /operating_model/cells/upside_2027q3_gross_contribution:upside/id | None | upside_2027q3_gross_contribution |
| /operating_model/cells/upside_2027q3_gross_contribution:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_gross_contribution:upside/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/upside_2027q3_gross_contribution:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_gross_contribution:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_gross_contribution:upside/value | None | 27.8312 |
| /operating_model/cells/upside_2027q3_interest_fraction:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_interest_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_interest_fraction:upside/id | None | upside_2027q3_interest_fraction |
| /operating_model/cells/upside_2027q3_interest_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_interest_fraction:upside/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/upside_2027q3_interest_fraction:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_interest_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q3_interest_fraction:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q3_legacy_gross:upside/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/upside_2027q3_legacy_gross:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_legacy_gross:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q3_legacy_gross:upside/formula/refs/0 | None | upside_2027q3_legacy_revenue |
| /operating_model/cells/upside_2027q3_legacy_gross:upside/formula/refs/1 | None | upside_2027q3_legacy_margin |
| /operating_model/cells/upside_2027q3_legacy_gross:upside/id | None | upside_2027q3_legacy_gross |
| /operating_model/cells/upside_2027q3_legacy_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_legacy_gross:upside/label | None | Legacy cash gross contribution |
| /operating_model/cells/upside_2027q3_legacy_gross:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_legacy_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_legacy_gross:upside/value | None | 4.75 |
| /operating_model/cells/upside_2027q3_legacy_margin:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_legacy_margin:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_legacy_margin:upside/id | None | upside_2027q3_legacy_margin |
| /operating_model/cells/upside_2027q3_legacy_margin:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_legacy_margin:upside/label | None | Legacy margin before D&A |
| /operating_model/cells/upside_2027q3_legacy_margin:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_legacy_margin:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q3_legacy_margin:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q3_legacy_revenue:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_legacy_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_legacy_revenue:upside/id | None | upside_2027q3_legacy_revenue |
| /operating_model/cells/upside_2027q3_legacy_revenue:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_legacy_revenue:upside/label | None | Legacy alloy and services revenue |
| /operating_model/cells/upside_2027q3_legacy_revenue:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_legacy_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_legacy_revenue:upside/value | None | 19.0 |
| /operating_model/cells/upside_2027q3_magnet_gross:upside/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/upside_2027q3_magnet_gross:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_magnet_gross:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q3_magnet_gross:upside/formula/refs/0 | None | upside_2027q3_magnet_revenue |
| /operating_model/cells/upside_2027q3_magnet_gross:upside/formula/refs/1 | None | upside_2027q3_magnet_margin |
| /operating_model/cells/upside_2027q3_magnet_gross:upside/id | None | upside_2027q3_magnet_gross |
| /operating_model/cells/upside_2027q3_magnet_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_magnet_gross:upside/label | None | Magnet ramp cash contribution |
| /operating_model/cells/upside_2027q3_magnet_gross:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_magnet_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_magnet_gross:upside/value | None | -4.012800000000001 |
| /operating_model/cells/upside_2027q3_magnet_margin:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_magnet_margin:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_magnet_margin:upside/id | None | upside_2027q3_magnet_margin |
| /operating_model/cells/upside_2027q3_magnet_margin:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_magnet_margin:upside/label | None | Magnet cash gross margin |
| /operating_model/cells/upside_2027q3_magnet_margin:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_magnet_margin:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q3_magnet_margin:upside/value | None | -0.19000000000000006 |
| /operating_model/cells/upside_2027q3_magnet_price:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_magnet_price:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_magnet_price:upside/id | None | upside_2027q3_magnet_price |
| /operating_model/cells/upside_2027q3_magnet_price:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_magnet_price:upside/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/upside_2027q3_magnet_price:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_magnet_price:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_magnet_price:upside/value | None | 0.066 |
| /operating_model/cells/upside_2027q3_magnet_revenue:upside/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/upside_2027q3_magnet_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_magnet_revenue:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q3_magnet_revenue:upside/formula/refs/0 | None | upside_2027q3_magnet_tonnes |
| /operating_model/cells/upside_2027q3_magnet_revenue:upside/formula/refs/1 | None | upside_2027q3_magnet_price |
| /operating_model/cells/upside_2027q3_magnet_revenue:upside/id | None | upside_2027q3_magnet_revenue |
| /operating_model/cells/upside_2027q3_magnet_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_magnet_revenue:upside/label | None | Accepted magnet sales |
| /operating_model/cells/upside_2027q3_magnet_revenue:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_magnet_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_magnet_revenue:upside/value | None | 21.12 |
| /operating_model/cells/upside_2027q3_magnet_tonnes:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_magnet_tonnes:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_magnet_tonnes:upside/id | None | upside_2027q3_magnet_tonnes |
| /operating_model/cells/upside_2027q3_magnet_tonnes:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_magnet_tonnes:upside/label | None | Accepted external magnet tonnes |
| /operating_model/cells/upside_2027q3_magnet_tonnes:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_magnet_tonnes:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q3_magnet_tonnes:upside/value | None | 320.0 |
| /operating_model/cells/upside_2027q3_mine_cash_cost:upside/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/upside_2027q3_mine_cash_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_mine_cash_cost:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q3_mine_cash_cost:upside/formula/refs/0 | None | upside_2027q3_mine_variable_cost |
| /operating_model/cells/upside_2027q3_mine_cash_cost:upside/formula/refs/1 | None | upside_2027q3_mine_fixed_cost |
| /operating_model/cells/upside_2027q3_mine_cash_cost:upside/id | None | upside_2027q3_mine_cash_cost |
| /operating_model/cells/upside_2027q3_mine_cash_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_mine_cash_cost:upside/label | None | Mine cash production cost |
| /operating_model/cells/upside_2027q3_mine_cash_cost:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_mine_cash_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_mine_cash_cost:upside/value | None | 30.665999999999997 |
| /operating_model/cells/upside_2027q3_mine_fixed_cost:upside/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/upside_2027q3_mine_fixed_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_mine_fixed_cost:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q3_mine_fixed_cost:upside/formula/refs/0 | None | upside_2027q3_mine_fixed_full |
| /operating_model/cells/upside_2027q3_mine_fixed_cost:upside/formula/refs/1 | None | upside_2027q3_ownership_fraction |
| /operating_model/cells/upside_2027q3_mine_fixed_cost:upside/id | None | upside_2027q3_mine_fixed_cost |
| /operating_model/cells/upside_2027q3_mine_fixed_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_mine_fixed_cost:upside/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/upside_2027q3_mine_fixed_cost:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_mine_fixed_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_mine_fixed_cost:upside/value | None | 10.45 |
| /operating_model/cells/upside_2027q3_mine_fixed_full:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_mine_fixed_full:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_mine_fixed_full:upside/id | None | upside_2027q3_mine_fixed_full |
| /operating_model/cells/upside_2027q3_mine_fixed_full:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_mine_fixed_full:upside/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/upside_2027q3_mine_fixed_full:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_mine_fixed_full:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_mine_fixed_full:upside/value | None | 10.45 |
| /operating_model/cells/upside_2027q3_mine_gross:upside/basis | None | Royalty below contribution. |
| /operating_model/cells/upside_2027q3_mine_gross:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_mine_gross:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q3_mine_gross:upside/formula/refs/0 | None | upside_2027q3_mine_revenue |
| /operating_model/cells/upside_2027q3_mine_gross:upside/formula/refs/1 | None | upside_2027q3_mine_cash_cost |
| /operating_model/cells/upside_2027q3_mine_gross:upside/id | None | upside_2027q3_mine_gross |
| /operating_model/cells/upside_2027q3_mine_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_mine_gross:upside/label | None | Mine revenue less cash production |
| /operating_model/cells/upside_2027q3_mine_gross:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_mine_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_mine_gross:upside/value | None | 27.094 |
| /operating_model/cells/upside_2027q3_mine_revenue:upside/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/upside_2027q3_mine_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_mine_revenue:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q3_mine_revenue:upside/formula/refs/0 | None | upside_2027q3_recognized_tonnes |
| /operating_model/cells/upside_2027q3_mine_revenue:upside/formula/refs/1 | None | upside_2027q3_treo_price |
| /operating_model/cells/upside_2027q3_mine_revenue:upside/id | None | upside_2027q3_mine_revenue |
| /operating_model/cells/upside_2027q3_mine_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_mine_revenue:upside/label | None | Post-close TREO revenue |
| /operating_model/cells/upside_2027q3_mine_revenue:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_mine_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_mine_revenue:upside/value | None | 57.76 |
| /operating_model/cells/upside_2027q3_mine_unit_cost:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_mine_unit_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_mine_unit_cost:upside/id | None | upside_2027q3_mine_unit_cost |
| /operating_model/cells/upside_2027q3_mine_unit_cost:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_mine_unit_cost:upside/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/upside_2027q3_mine_unit_cost:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_mine_unit_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_mine_unit_cost:upside/value | None | 0.0133 |
| /operating_model/cells/upside_2027q3_mine_utilization:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_mine_utilization:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_mine_utilization:upside/id | None | upside_2027q3_mine_utilization |
| /operating_model/cells/upside_2027q3_mine_utilization:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_mine_utilization:upside/label | None | Capacity to recognized sales factor |
| /operating_model/cells/upside_2027q3_mine_utilization:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_mine_utilization:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q3_mine_utilization:upside/value | None | 0.95 |
| /operating_model/cells/upside_2027q3_mine_variable_cost:upside/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/upside_2027q3_mine_variable_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_mine_variable_cost:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q3_mine_variable_cost:upside/formula/refs/0 | None | upside_2027q3_recognized_tonnes |
| /operating_model/cells/upside_2027q3_mine_variable_cost:upside/formula/refs/1 | None | upside_2027q3_mine_unit_cost |
| /operating_model/cells/upside_2027q3_mine_variable_cost:upside/id | None | upside_2027q3_mine_variable_cost |
| /operating_model/cells/upside_2027q3_mine_variable_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_mine_variable_cost:upside/label | None | Variable mine cash cost |
| /operating_model/cells/upside_2027q3_mine_variable_cost:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_mine_variable_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_mine_variable_cost:upside/value | None | 20.215999999999998 |
| /operating_model/cells/upside_2027q3_minority_investment:upside/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/upside_2027q3_minority_investment:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_minority_investment:upside/id | None | upside_2027q3_minority_investment |
| /operating_model/cells/upside_2027q3_minority_investment:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_minority_investment:upside/label | None | Carester minority investment cash |
| /operating_model/cells/upside_2027q3_minority_investment:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_minority_investment:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_minority_investment:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q3_new_acquisition:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_new_acquisition:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_new_acquisition:upside/id | None | upside_2027q3_new_acquisition |
| /operating_model/cells/upside_2027q3_new_acquisition:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_new_acquisition:upside/label | None | Other acquisition purchase cash |
| /operating_model/cells/upside_2027q3_new_acquisition:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_new_acquisition:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_new_acquisition:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q3_operating_cash_uses:upside/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/upside_2027q3_operating_cash_uses:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_operating_cash_uses:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q3_operating_cash_uses:upside/formula/refs/0 | None | upside_2027q3_dfc_interest |
| /operating_model/cells/upside_2027q3_operating_cash_uses:upside/formula/refs/1 | None | upside_2027q3_cash_tax |
| /operating_model/cells/upside_2027q3_operating_cash_uses:upside/formula/refs/2 | None | upside_2027q3_working_capital |
| /operating_model/cells/upside_2027q3_operating_cash_uses:upside/id | None | upside_2027q3_operating_cash_uses |
| /operating_model/cells/upside_2027q3_operating_cash_uses:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_operating_cash_uses:upside/label | None | Interest tax and working-capital use |
| /operating_model/cells/upside_2027q3_operating_cash_uses:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_operating_cash_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_operating_cash_uses:upside/value | None | 41.1875 |
| /operating_model/cells/upside_2027q3_operating_costs:upside/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/upside_2027q3_operating_costs:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_operating_costs:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q3_operating_costs:upside/formula/refs/0 | None | upside_2027q3_cash_overhead |
| /operating_model/cells/upside_2027q3_operating_costs:upside/formula/refs/1 | None | upside_2027q3_royalty_cash |
| /operating_model/cells/upside_2027q3_operating_costs:upside/formula/refs/2 | None | upside_2027q3_da |
| /operating_model/cells/upside_2027q3_operating_costs:upside/formula/refs/3 | None | upside_2027q3_sbc |
| /operating_model/cells/upside_2027q3_operating_costs:upside/formula/refs/4 | None | upside_2027q3_transaction_cost |
| /operating_model/cells/upside_2027q3_operating_costs:upside/id | None | upside_2027q3_operating_costs |
| /operating_model/cells/upside_2027q3_operating_costs:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_operating_costs:upside/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/upside_2027q3_operating_costs:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_operating_costs:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_operating_costs:upside/value | None | 86.4324 |
| /operating_model/cells/upside_2027q3_operating_income:upside/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/upside_2027q3_operating_income:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_operating_income:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q3_operating_income:upside/formula/refs/0 | None | upside_2027q3_gross_contribution |
| /operating_model/cells/upside_2027q3_operating_income:upside/formula/refs/1 | None | upside_2027q3_operating_costs |
| /operating_model/cells/upside_2027q3_operating_income:upside/id | None | upside_2027q3_operating_income |
| /operating_model/cells/upside_2027q3_operating_income:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_operating_income:upside/label | None | Operating income proxy |
| /operating_model/cells/upside_2027q3_operating_income:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_operating_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_operating_income:upside/value | None | -58.601200000000006 |
| /operating_model/cells/upside_2027q3_other_investing:upside/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/upside_2027q3_other_investing:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_other_investing:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q3_other_investing:upside/formula/refs/0 | None | upside_2027q3_acquisition_cash |
| /operating_model/cells/upside_2027q3_other_investing:upside/formula/refs/1 | None | upside_2027q3_minority_investment |
| /operating_model/cells/upside_2027q3_other_investing:upside/id | None | upside_2027q3_other_investing |
| /operating_model/cells/upside_2027q3_other_investing:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_other_investing:upside/label | None | Acquisition and minority cash |
| /operating_model/cells/upside_2027q3_other_investing:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_other_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_other_investing:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q3_ownership_fraction:upside/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/upside_2027q3_ownership_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_ownership_fraction:upside/id | None | upside_2027q3_ownership_fraction |
| /operating_model/cells/upside_2027q3_ownership_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_ownership_fraction:upside/label | None | Consolidated fraction of quarter |
| /operating_model/cells/upside_2027q3_ownership_fraction:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_ownership_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q3_ownership_fraction:upside/value | None | 1.0 |
| /operating_model/cells/upside_2027q3_quarter_fraction:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_quarter_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_quarter_fraction:upside/id | None | upside_2027q3_quarter_fraction |
| /operating_model/cells/upside_2027q3_quarter_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_quarter_fraction:upside/label | None | Annual-to-quarter fraction |
| /operating_model/cells/upside_2027q3_quarter_fraction:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_quarter_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q3_quarter_fraction:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/formula/refs/0 | None | upside_2027q3_average_capacity |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/formula/refs/1 | None | upside_2027q3_quarter_fraction |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/formula/refs/2 | None | upside_2027q3_mine_utilization |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/formula/refs/3 | None | upside_2027q3_ownership_fraction |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/id | None | upside_2027q3_recognized_tonnes |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q3_recognized_tonnes:upside/value | None | 1520.0 |
| /operating_model/cells/upside_2027q3_revenue:upside/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/upside_2027q3_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q3_revenue:upside/formula/refs/0 | None | upside_2027q3_legacy_revenue |
| /operating_model/cells/upside_2027q3_revenue:upside/formula/refs/1 | None | upside_2027q3_mine_revenue |
| /operating_model/cells/upside_2027q3_revenue:upside/formula/refs/2 | None | upside_2027q3_magnet_revenue |
| /operating_model/cells/upside_2027q3_revenue:upside/id | None | upside_2027q3_revenue |
| /operating_model/cells/upside_2027q3_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_revenue:upside/label | None | Consolidated revenue |
| /operating_model/cells/upside_2027q3_revenue:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_revenue:upside/value | None | 97.88 |
| /operating_model/cells/upside_2027q3_royalty_cash:upside/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/upside_2027q3_royalty_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_royalty_cash:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q3_royalty_cash:upside/formula/refs/0 | None | upside_2027q3_royalty_variable |
| /operating_model/cells/upside_2027q3_royalty_cash:upside/formula/refs/1 | None | upside_2027q3_royalty_topup |
| /operating_model/cells/upside_2027q3_royalty_cash:upside/id | None | upside_2027q3_royalty_cash |
| /operating_model/cells/upside_2027q3_royalty_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_royalty_cash:upside/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/upside_2027q3_royalty_cash:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_royalty_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_royalty_cash:upside/value | None | 8.032399999999999 |
| /operating_model/cells/upside_2027q3_royalty_topup:upside/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/upside_2027q3_royalty_topup:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_royalty_topup:upside/id | None | upside_2027q3_royalty_topup |
| /operating_model/cells/upside_2027q3_royalty_topup:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_royalty_topup:upside/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/upside_2027q3_royalty_topup:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_royalty_topup:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_royalty_topup:upside/value | None | 5.0 |
| /operating_model/cells/upside_2027q3_royalty_variable:upside/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/upside_2027q3_royalty_variable:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_royalty_variable:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q3_royalty_variable:upside/formula/refs/0 | None | upside_2027q3_mine_revenue |
| /operating_model/cells/upside_2027q3_royalty_variable:upside/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/upside_2027q3_royalty_variable:upside/id | None | upside_2027q3_royalty_variable |
| /operating_model/cells/upside_2027q3_royalty_variable:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_royalty_variable:upside/label | None | Variable mine royalty |
| /operating_model/cells/upside_2027q3_royalty_variable:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_royalty_variable:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_royalty_variable:upside/value | None | 3.0324 |
| /operating_model/cells/upside_2027q3_sbc:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_sbc:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_sbc:upside/id | None | upside_2027q3_sbc |
| /operating_model/cells/upside_2027q3_sbc:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_sbc:upside/label | None | Operating SBC |
| /operating_model/cells/upside_2027q3_sbc:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_sbc:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_sbc:upside/value | None | 12.0 |
| /operating_model/cells/upside_2027q3_transaction_cost:upside/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/upside_2027q3_transaction_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_transaction_cost:upside/id | None | upside_2027q3_transaction_cost |
| /operating_model/cells/upside_2027q3_transaction_cost:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_transaction_cost:upside/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/upside_2027q3_transaction_cost:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_transaction_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_transaction_cost:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q3_treasury_income:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_treasury_income:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_treasury_income:upside/id | None | upside_2027q3_treasury_income |
| /operating_model/cells/upside_2027q3_treasury_income:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_treasury_income:upside/label | None | Cash treasury income |
| /operating_model/cells/upside_2027q3_treasury_income:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_treasury_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_treasury_income:upside/value | None | 5.0 |
| /operating_model/cells/upside_2027q3_treo_price:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_treo_price:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_treo_price:upside/id | None | upside_2027q3_treo_price |
| /operating_model/cells/upside_2027q3_treo_price:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_treo_price:upside/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/upside_2027q3_treo_price:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_treo_price:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_treo_price:upside/value | None | 0.038 |
| /operating_model/cells/upside_2027q3_working_capital:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q3_working_capital:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_working_capital:upside/id | None | upside_2027q3_working_capital |
| /operating_model/cells/upside_2027q3_working_capital:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_working_capital:upside/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/upside_2027q3_working_capital:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_working_capital:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_working_capital:upside/value | None | 35.0 |
| /operating_model/cells/upside_2027q4_acquired_cash:upside/basis | None | Desk closing-cash estimate from June $162.413M reference; not confirmed September cash. |
| /operating_model/cells/upside_2027q4_acquired_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_acquired_cash:upside/id | None | upside_2027q4_acquired_cash |
| /operating_model/cells/upside_2027q4_acquired_cash:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_acquired_cash:upside/label | None | Cash acquired at closing |
| /operating_model/cells/upside_2027q4_acquired_cash:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_acquired_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_acquired_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q4_acquisition_cash:upside/basis | None | Gross purchase consideration is received by sellers; acquired cash enters consolidation once. |
| /operating_model/cells/upside_2027q4_acquisition_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_acquisition_cash:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q4_acquisition_cash:upside/formula/refs/0 | None | upside_2027q4_new_acquisition |
| /operating_model/cells/upside_2027q4_acquisition_cash:upside/formula/refs/1 | None | upside_2027q4_acquired_cash |
| /operating_model/cells/upside_2027q4_acquisition_cash:upside/id | None | upside_2027q4_acquisition_cash |
| /operating_model/cells/upside_2027q4_acquisition_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_acquisition_cash:upside/label | None | Net acquisition cash |
| /operating_model/cells/upside_2027q4_acquisition_cash:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_acquisition_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_acquisition_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q4_average_capacity:upside/basis | None | Count of annual tonnes; average in-service capacity rather than end-period nameplate. |
| /operating_model/cells/upside_2027q4_average_capacity:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_average_capacity:upside/id | None | upside_2027q4_average_capacity |
| /operating_model/cells/upside_2027q4_average_capacity:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_average_capacity:upside/label | None | Average annualized operating TREO capacity |
| /operating_model/cells/upside_2027q4_average_capacity:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_average_capacity:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q4_average_capacity:upside/value | None | 6400.0 |
| /operating_model/cells/upside_2027q4_capex:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_capex:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_capex:upside/id | None | upside_2027q4_capex |
| /operating_model/cells/upside_2027q4_capex:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_capex:upside/label | None | Cash capex and equipment deposits |
| /operating_model/cells/upside_2027q4_capex:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_capex:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_capex:upside/value | None | 240.0 |
| /operating_model/cells/upside_2027q4_cash_after_investing:upside/basis | None | Before external financing, debt/lease principal and other capital allocation; not ending unrestricted cash. |
| /operating_model/cells/upside_2027q4_cash_after_investing:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_cash_after_investing:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q4_cash_after_investing:upside/formula/refs/0 | None | upside_2027q4_fcf |
| /operating_model/cells/upside_2027q4_cash_after_investing:upside/formula/refs/1 | None | upside_2027q4_other_investing |
| /operating_model/cells/upside_2027q4_cash_after_investing:upside/id | None | upside_2027q4_cash_after_investing |
| /operating_model/cells/upside_2027q4_cash_after_investing:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_cash_after_investing:upside/label | None | Cash after business investing |
| /operating_model/cells/upside_2027q4_cash_after_investing:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_cash_after_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_cash_after_investing:upside/value | None | -311.03665 |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/basis | None | No government warrants or debt forgiveness treated as operating cash. |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/formula/refs/0 | None | upside_2027q4_operating_income |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/formula/refs/1 | None | upside_2027q4_da |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/formula/refs/2 | None | upside_2027q4_sbc |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/formula/refs/3 | None | upside_2027q4_treasury_income |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/id | None | upside_2027q4_cash_earnings |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/label | None | Operating income plus noncash costs and treasury income |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_cash_earnings:upside/value | None | -24.849149999999995 |
| /operating_model/cells/upside_2027q4_cash_overhead:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_cash_overhead:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_cash_overhead:upside/id | None | upside_2027q4_cash_overhead |
| /operating_model/cells/upside_2027q4_cash_overhead:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_cash_overhead:upside/label | None | Cash SG&A and development |
| /operating_model/cells/upside_2027q4_cash_overhead:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_cash_overhead:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_cash_overhead:upside/value | None | 52.25 |
| /operating_model/cells/upside_2027q4_cash_tax:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_cash_tax:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_cash_tax:upside/id | None | upside_2027q4_cash_tax |
| /operating_model/cells/upside_2027q4_cash_tax:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_cash_tax:upside/label | None | Cash taxes |
| /operating_model/cells/upside_2027q4_cash_tax:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_cash_tax:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_cash_tax:upside/value | None | 0.5 |
| /operating_model/cells/upside_2027q4_cfo:upside/basis | None | Transaction cost already deducted; settlement differences remain an explicit limitation. |
| /operating_model/cells/upside_2027q4_cfo:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_cfo:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q4_cfo:upside/formula/refs/0 | None | upside_2027q4_cash_earnings |
| /operating_model/cells/upside_2027q4_cfo:upside/formula/refs/1 | None | upside_2027q4_operating_cash_uses |
| /operating_model/cells/upside_2027q4_cfo:upside/id | None | upside_2027q4_cfo |
| /operating_model/cells/upside_2027q4_cfo:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_cfo:upside/label | None | Operating cash flow proxy |
| /operating_model/cells/upside_2027q4_cfo:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_cfo:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_cfo:upside/value | None | -71.03665 |
| /operating_model/cells/upside_2027q4_da:upside/basis | None | Desk in-service/PPA depreciation and amortization allowance; provisional fair values do not imply all assets depreciate immediately. |
| /operating_model/cells/upside_2027q4_da:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_da:upside/id | None | upside_2027q4_da |
| /operating_model/cells/upside_2027q4_da:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_da:upside/label | None | Consolidated operating D&A |
| /operating_model/cells/upside_2027q4_da:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_da:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_da:upside/value | None | 20.0 |
| /operating_model/cells/upside_2027q4_dfc_interest:upside/basis | None | Desk floating rate applied to remaining principal reference, not a cash payment calendar. |
| /operating_model/cells/upside_2027q4_dfc_interest:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_dfc_interest:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q4_dfc_interest:upside/formula/refs/0 | None | dfc_remaining_reference |
| /operating_model/cells/upside_2027q4_dfc_interest:upside/formula/refs/1 | None | upside_2027q4_dfc_rate |
| /operating_model/cells/upside_2027q4_dfc_interest:upside/formula/refs/2 | None | upside_2027q4_interest_fraction |
| /operating_model/cells/upside_2027q4_dfc_interest:upside/id | None | upside_2027q4_dfc_interest |
| /operating_model/cells/upside_2027q4_dfc_interest:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_dfc_interest:upside/label | None | DFC cash coupon proxy |
| /operating_model/cells/upside_2027q4_dfc_interest:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_dfc_interest:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_dfc_interest:upside/value | None | 5.687500000000001 |
| /operating_model/cells/upside_2027q4_dfc_rate:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_dfc_rate:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_dfc_rate:upside/id | None | upside_2027q4_dfc_rate |
| /operating_model/cells/upside_2027q4_dfc_rate:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_dfc_rate:upside/label | None | SOFR plus spread coupon assumption |
| /operating_model/cells/upside_2027q4_dfc_rate:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_dfc_rate:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q4_dfc_rate:upside/value | None | 0.07 |
| /operating_model/cells/upside_2027q4_fcf:upside/basis | None | Before acquisitions and minority investments. |
| /operating_model/cells/upside_2027q4_fcf:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_fcf:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q4_fcf:upside/formula/refs/0 | None | upside_2027q4_cfo |
| /operating_model/cells/upside_2027q4_fcf:upside/formula/refs/1 | None | upside_2027q4_capex |
| /operating_model/cells/upside_2027q4_fcf:upside/id | None | upside_2027q4_fcf |
| /operating_model/cells/upside_2027q4_fcf:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_fcf:upside/label | None | CFO less cash capital investment |
| /operating_model/cells/upside_2027q4_fcf:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_fcf:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_fcf:upside/value | None | -311.03665 |
| /operating_model/cells/upside_2027q4_gross_contribution:upside/basis | None | Analytical measure, not reported gross profit or adjusted EBITDA. |
| /operating_model/cells/upside_2027q4_gross_contribution:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_gross_contribution:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q4_gross_contribution:upside/formula/refs/0 | None | upside_2027q4_legacy_gross |
| /operating_model/cells/upside_2027q4_gross_contribution:upside/formula/refs/1 | None | upside_2027q4_mine_gross |
| /operating_model/cells/upside_2027q4_gross_contribution:upside/formula/refs/2 | None | upside_2027q4_magnet_gross |
| /operating_model/cells/upside_2027q4_gross_contribution:upside/id | None | upside_2027q4_gross_contribution |
| /operating_model/cells/upside_2027q4_gross_contribution:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_gross_contribution:upside/label | None | Gross contribution before D&A and royalty |
| /operating_model/cells/upside_2027q4_gross_contribution:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_gross_contribution:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_gross_contribution:upside/value | None | 31.43325 |
| /operating_model/cells/upside_2027q4_interest_fraction:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_interest_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_interest_fraction:upside/id | None | upside_2027q4_interest_fraction |
| /operating_model/cells/upside_2027q4_interest_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_interest_fraction:upside/label | None | Quarter/consolidation interest fraction |
| /operating_model/cells/upside_2027q4_interest_fraction:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_interest_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q4_interest_fraction:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q4_legacy_gross:upside/basis | None | Desk cash contribution assumption. |
| /operating_model/cells/upside_2027q4_legacy_gross:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_legacy_gross:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q4_legacy_gross:upside/formula/refs/0 | None | upside_2027q4_legacy_revenue |
| /operating_model/cells/upside_2027q4_legacy_gross:upside/formula/refs/1 | None | upside_2027q4_legacy_margin |
| /operating_model/cells/upside_2027q4_legacy_gross:upside/id | None | upside_2027q4_legacy_gross |
| /operating_model/cells/upside_2027q4_legacy_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_legacy_gross:upside/label | None | Legacy cash gross contribution |
| /operating_model/cells/upside_2027q4_legacy_gross:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_legacy_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_legacy_gross:upside/value | None | 5.75 |
| /operating_model/cells/upside_2027q4_legacy_margin:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_legacy_margin:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_legacy_margin:upside/id | None | upside_2027q4_legacy_margin |
| /operating_model/cells/upside_2027q4_legacy_margin:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_legacy_margin:upside/label | None | Legacy margin before D&A |
| /operating_model/cells/upside_2027q4_legacy_margin:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_legacy_margin:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q4_legacy_margin:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q4_legacy_revenue:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_legacy_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_legacy_revenue:upside/id | None | upside_2027q4_legacy_revenue |
| /operating_model/cells/upside_2027q4_legacy_revenue:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_legacy_revenue:upside/label | None | Legacy alloy and services revenue |
| /operating_model/cells/upside_2027q4_legacy_revenue:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_legacy_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_legacy_revenue:upside/value | None | 23.0 |
| /operating_model/cells/upside_2027q4_magnet_gross:upside/basis | None | Low utilization and qualification can keep early magnet economics negative. |
| /operating_model/cells/upside_2027q4_magnet_gross:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_magnet_gross:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q4_magnet_gross:upside/formula/refs/0 | None | upside_2027q4_magnet_revenue |
| /operating_model/cells/upside_2027q4_magnet_gross:upside/formula/refs/1 | None | upside_2027q4_magnet_margin |
| /operating_model/cells/upside_2027q4_magnet_gross:upside/id | None | upside_2027q4_magnet_gross |
| /operating_model/cells/upside_2027q4_magnet_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_magnet_gross:upside/label | None | Magnet ramp cash contribution |
| /operating_model/cells/upside_2027q4_magnet_gross:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_magnet_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_magnet_gross:upside/value | None | -1.4107500000000013 |
| /operating_model/cells/upside_2027q4_magnet_margin:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_magnet_margin:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_magnet_margin:upside/id | None | upside_2027q4_magnet_margin |
| /operating_model/cells/upside_2027q4_magnet_margin:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_magnet_margin:upside/label | None | Magnet cash gross margin |
| /operating_model/cells/upside_2027q4_magnet_margin:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_magnet_margin:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q4_magnet_margin:upside/value | None | -0.04750000000000004 |
| /operating_model/cells/upside_2027q4_magnet_price:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_magnet_price:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_magnet_price:upside/id | None | upside_2027q4_magnet_price |
| /operating_model/cells/upside_2027q4_magnet_price:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_magnet_price:upside/label | None | Realized magnet price in $M per tonne |
| /operating_model/cells/upside_2027q4_magnet_price:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_magnet_price:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_magnet_price:upside/value | None | 0.066 |
| /operating_model/cells/upside_2027q4_magnet_revenue:upside/basis | None | Only external accepted product; no revenue from installing equipment. |
| /operating_model/cells/upside_2027q4_magnet_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_magnet_revenue:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q4_magnet_revenue:upside/formula/refs/0 | None | upside_2027q4_magnet_tonnes |
| /operating_model/cells/upside_2027q4_magnet_revenue:upside/formula/refs/1 | None | upside_2027q4_magnet_price |
| /operating_model/cells/upside_2027q4_magnet_revenue:upside/id | None | upside_2027q4_magnet_revenue |
| /operating_model/cells/upside_2027q4_magnet_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_magnet_revenue:upside/label | None | Accepted magnet sales |
| /operating_model/cells/upside_2027q4_magnet_revenue:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_magnet_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_magnet_revenue:upside/value | None | 29.700000000000003 |
| /operating_model/cells/upside_2027q4_magnet_tonnes:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_magnet_tonnes:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_magnet_tonnes:upside/id | None | upside_2027q4_magnet_tonnes |
| /operating_model/cells/upside_2027q4_magnet_tonnes:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_magnet_tonnes:upside/label | None | Accepted external magnet tonnes |
| /operating_model/cells/upside_2027q4_magnet_tonnes:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_magnet_tonnes:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q4_magnet_tonnes:upside/value | None | 450.0 |
| /operating_model/cells/upside_2027q4_mine_cash_cost:upside/basis | None | Excludes royalty and depreciation, shown separately. |
| /operating_model/cells/upside_2027q4_mine_cash_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_mine_cash_cost:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q4_mine_cash_cost:upside/formula/refs/0 | None | upside_2027q4_mine_variable_cost |
| /operating_model/cells/upside_2027q4_mine_cash_cost:upside/formula/refs/1 | None | upside_2027q4_mine_fixed_cost |
| /operating_model/cells/upside_2027q4_mine_cash_cost:upside/id | None | upside_2027q4_mine_cash_cost |
| /operating_model/cells/upside_2027q4_mine_cash_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_mine_cash_cost:upside/label | None | Mine cash production cost |
| /operating_model/cells/upside_2027q4_mine_cash_cost:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_mine_cash_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_mine_cash_cost:upside/value | None | 30.665999999999997 |
| /operating_model/cells/upside_2027q4_mine_fixed_cost:upside/basis | None | Q3 includes acquired-period fraction only. |
| /operating_model/cells/upside_2027q4_mine_fixed_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_mine_fixed_cost:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q4_mine_fixed_cost:upside/formula/refs/0 | None | upside_2027q4_mine_fixed_full |
| /operating_model/cells/upside_2027q4_mine_fixed_cost:upside/formula/refs/1 | None | upside_2027q4_ownership_fraction |
| /operating_model/cells/upside_2027q4_mine_fixed_cost:upside/id | None | upside_2027q4_mine_fixed_cost |
| /operating_model/cells/upside_2027q4_mine_fixed_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_mine_fixed_cost:upside/label | None | Consolidated mine fixed operating cost |
| /operating_model/cells/upside_2027q4_mine_fixed_cost:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_mine_fixed_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_mine_fixed_cost:upside/value | None | 10.45 |
| /operating_model/cells/upside_2027q4_mine_fixed_full:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_mine_fixed_full:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_mine_fixed_full:upside/id | None | upside_2027q4_mine_fixed_full |
| /operating_model/cells/upside_2027q4_mine_fixed_full:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_mine_fixed_full:upside/label | None | Full-quarter mine fixed cost |
| /operating_model/cells/upside_2027q4_mine_fixed_full:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_mine_fixed_full:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_mine_fixed_full:upside/value | None | 10.45 |
| /operating_model/cells/upside_2027q4_mine_gross:upside/basis | None | Royalty below contribution. |
| /operating_model/cells/upside_2027q4_mine_gross:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_mine_gross:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q4_mine_gross:upside/formula/refs/0 | None | upside_2027q4_mine_revenue |
| /operating_model/cells/upside_2027q4_mine_gross:upside/formula/refs/1 | None | upside_2027q4_mine_cash_cost |
| /operating_model/cells/upside_2027q4_mine_gross:upside/id | None | upside_2027q4_mine_gross |
| /operating_model/cells/upside_2027q4_mine_gross:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_mine_gross:upside/label | None | Mine revenue less cash production |
| /operating_model/cells/upside_2027q4_mine_gross:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_mine_gross:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_mine_gross:upside/value | None | 27.094 |
| /operating_model/cells/upside_2027q4_mine_revenue:upside/basis | None | Desk mixed-product price, not a disclosed contractual floor; .03 million/tonne equals $30/kg. |
| /operating_model/cells/upside_2027q4_mine_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_mine_revenue:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q4_mine_revenue:upside/formula/refs/0 | None | upside_2027q4_recognized_tonnes |
| /operating_model/cells/upside_2027q4_mine_revenue:upside/formula/refs/1 | None | upside_2027q4_treo_price |
| /operating_model/cells/upside_2027q4_mine_revenue:upside/id | None | upside_2027q4_mine_revenue |
| /operating_model/cells/upside_2027q4_mine_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_mine_revenue:upside/label | None | Post-close TREO revenue |
| /operating_model/cells/upside_2027q4_mine_revenue:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_mine_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_mine_revenue:upside/value | None | 57.76 |
| /operating_model/cells/upside_2027q4_mine_unit_cost:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_mine_unit_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_mine_unit_cost:upside/id | None | upside_2027q4_mine_unit_cost |
| /operating_model/cells/upside_2027q4_mine_unit_cost:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_mine_unit_cost:upside/label | None | Cash production cost in $M per tonne |
| /operating_model/cells/upside_2027q4_mine_unit_cost:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_mine_unit_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_mine_unit_cost:upside/value | None | 0.0133 |
| /operating_model/cells/upside_2027q4_mine_utilization:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_mine_utilization:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_mine_utilization:upside/id | None | upside_2027q4_mine_utilization |
| /operating_model/cells/upside_2027q4_mine_utilization:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_mine_utilization:upside/label | None | Capacity to recognized sales factor |
| /operating_model/cells/upside_2027q4_mine_utilization:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_mine_utilization:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q4_mine_utilization:upside/value | None | 0.95 |
| /operating_model/cells/upside_2027q4_mine_variable_cost:upside/basis | None | Inventory timing is handled in working capital. |
| /operating_model/cells/upside_2027q4_mine_variable_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_mine_variable_cost:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q4_mine_variable_cost:upside/formula/refs/0 | None | upside_2027q4_recognized_tonnes |
| /operating_model/cells/upside_2027q4_mine_variable_cost:upside/formula/refs/1 | None | upside_2027q4_mine_unit_cost |
| /operating_model/cells/upside_2027q4_mine_variable_cost:upside/id | None | upside_2027q4_mine_variable_cost |
| /operating_model/cells/upside_2027q4_mine_variable_cost:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_mine_variable_cost:upside/label | None | Variable mine cash cost |
| /operating_model/cells/upside_2027q4_mine_variable_cost:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_mine_variable_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_mine_variable_cost:upside/value | None | 20.215999999999998 |
| /operating_model/cells/upside_2027q4_minority_investment:upside/basis | None | Conditional future closing assumption based on disclosed approximate USD cash consideration; no consolidation of Carester sales. |
| /operating_model/cells/upside_2027q4_minority_investment:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_minority_investment:upside/id | None | upside_2027q4_minority_investment |
| /operating_model/cells/upside_2027q4_minority_investment:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_minority_investment:upside/label | None | Carester minority investment cash |
| /operating_model/cells/upside_2027q4_minority_investment:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_minority_investment:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_minority_investment:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q4_new_acquisition:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_new_acquisition:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_new_acquisition:upside/id | None | upside_2027q4_new_acquisition |
| /operating_model/cells/upside_2027q4_new_acquisition:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_new_acquisition:upside/label | None | Other acquisition purchase cash |
| /operating_model/cells/upside_2027q4_new_acquisition:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_new_acquisition:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_new_acquisition:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q4_operating_cash_uses:upside/basis | None | Purchased opening working capital is in acquisition cash, not deducted again. |
| /operating_model/cells/upside_2027q4_operating_cash_uses:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_operating_cash_uses:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q4_operating_cash_uses:upside/formula/refs/0 | None | upside_2027q4_dfc_interest |
| /operating_model/cells/upside_2027q4_operating_cash_uses:upside/formula/refs/1 | None | upside_2027q4_cash_tax |
| /operating_model/cells/upside_2027q4_operating_cash_uses:upside/formula/refs/2 | None | upside_2027q4_working_capital |
| /operating_model/cells/upside_2027q4_operating_cash_uses:upside/id | None | upside_2027q4_operating_cash_uses |
| /operating_model/cells/upside_2027q4_operating_cash_uses:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_operating_cash_uses:upside/label | None | Interest tax and working-capital use |
| /operating_model/cells/upside_2027q4_operating_cash_uses:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_operating_cash_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_operating_cash_uses:upside/value | None | 46.1875 |
| /operating_model/cells/upside_2027q4_operating_costs:upside/basis | None | Includes acquisition costs; no underlying profit presented as GAAP. |
| /operating_model/cells/upside_2027q4_operating_costs:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_operating_costs:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q4_operating_costs:upside/formula/refs/0 | None | upside_2027q4_cash_overhead |
| /operating_model/cells/upside_2027q4_operating_costs:upside/formula/refs/1 | None | upside_2027q4_royalty_cash |
| /operating_model/cells/upside_2027q4_operating_costs:upside/formula/refs/2 | None | upside_2027q4_da |
| /operating_model/cells/upside_2027q4_operating_costs:upside/formula/refs/3 | None | upside_2027q4_sbc |
| /operating_model/cells/upside_2027q4_operating_costs:upside/formula/refs/4 | None | upside_2027q4_transaction_cost |
| /operating_model/cells/upside_2027q4_operating_costs:upside/id | None | upside_2027q4_operating_costs |
| /operating_model/cells/upside_2027q4_operating_costs:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_operating_costs:upside/label | None | Corporate R&D royalty noncash and transaction costs |
| /operating_model/cells/upside_2027q4_operating_costs:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_operating_costs:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_operating_costs:upside/value | None | 93.2824 |
| /operating_model/cells/upside_2027q4_operating_income:upside/basis | None | Royalty cash approximates economic cost; full GAAP amortized-cost/fair-value bridge is not provided. |
| /operating_model/cells/upside_2027q4_operating_income:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_operating_income:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q4_operating_income:upside/formula/refs/0 | None | upside_2027q4_gross_contribution |
| /operating_model/cells/upside_2027q4_operating_income:upside/formula/refs/1 | None | upside_2027q4_operating_costs |
| /operating_model/cells/upside_2027q4_operating_income:upside/id | None | upside_2027q4_operating_income |
| /operating_model/cells/upside_2027q4_operating_income:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_operating_income:upside/label | None | Operating income proxy |
| /operating_model/cells/upside_2027q4_operating_income:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_operating_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_operating_income:upside/value | None | -61.849149999999995 |
| /operating_model/cells/upside_2027q4_other_investing:upside/basis | None | No automatic government draw to offset the cash demand. |
| /operating_model/cells/upside_2027q4_other_investing:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_other_investing:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q4_other_investing:upside/formula/refs/0 | None | upside_2027q4_acquisition_cash |
| /operating_model/cells/upside_2027q4_other_investing:upside/formula/refs/1 | None | upside_2027q4_minority_investment |
| /operating_model/cells/upside_2027q4_other_investing:upside/id | None | upside_2027q4_other_investing |
| /operating_model/cells/upside_2027q4_other_investing:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_other_investing:upside/label | None | Acquisition and minority cash |
| /operating_model/cells/upside_2027q4_other_investing:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_other_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_other_investing:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q4_ownership_fraction:upside/basis | None | September 3 close approximated as one month in Q3; not 100% of Q3 or retroactive H1. |
| /operating_model/cells/upside_2027q4_ownership_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_ownership_fraction:upside/id | None | upside_2027q4_ownership_fraction |
| /operating_model/cells/upside_2027q4_ownership_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_ownership_fraction:upside/label | None | Consolidated fraction of quarter |
| /operating_model/cells/upside_2027q4_ownership_fraction:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_ownership_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q4_ownership_fraction:upside/value | None | 1.0 |
| /operating_model/cells/upside_2027q4_quarter_fraction:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_quarter_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_quarter_fraction:upside/id | None | upside_2027q4_quarter_fraction |
| /operating_model/cells/upside_2027q4_quarter_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_quarter_fraction:upside/label | None | Annual-to-quarter fraction |
| /operating_model/cells/upside_2027q4_quarter_fraction:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_quarter_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q4_quarter_fraction:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/basis | None | Physical throughput, sale acceptance and consolidation timing jointly constrain revenue. |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/formula/refs/0 | None | upside_2027q4_average_capacity |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/formula/refs/1 | None | upside_2027q4_quarter_fraction |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/formula/refs/2 | None | upside_2027q4_mine_utilization |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/formula/refs/3 | None | upside_2027q4_ownership_fraction |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/id | None | upside_2027q4_recognized_tonnes |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/label | None | Post-close sold TREO tonnes |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q4_recognized_tonnes:upside/value | None | 1520.0 |
| /operating_model/cells/upside_2027q4_revenue:upside/basis | None | No double-counted transfer of acquired mine output to company factories; no Carester or Round Top sales. |
| /operating_model/cells/upside_2027q4_revenue:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q4_revenue:upside/formula/refs/0 | None | upside_2027q4_legacy_revenue |
| /operating_model/cells/upside_2027q4_revenue:upside/formula/refs/1 | None | upside_2027q4_mine_revenue |
| /operating_model/cells/upside_2027q4_revenue:upside/formula/refs/2 | None | upside_2027q4_magnet_revenue |
| /operating_model/cells/upside_2027q4_revenue:upside/id | None | upside_2027q4_revenue |
| /operating_model/cells/upside_2027q4_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_revenue:upside/label | None | Consolidated revenue |
| /operating_model/cells/upside_2027q4_revenue:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_revenue:upside/value | None | 110.46 |
| /operating_model/cells/upside_2027q4_royalty_cash:upside/basis | None | Economic cash charge; noncash liability remeasurement excluded. |
| /operating_model/cells/upside_2027q4_royalty_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_royalty_cash:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q4_royalty_cash:upside/formula/refs/0 | None | upside_2027q4_royalty_variable |
| /operating_model/cells/upside_2027q4_royalty_cash:upside/formula/refs/1 | None | upside_2027q4_royalty_topup |
| /operating_model/cells/upside_2027q4_royalty_cash:upside/id | None | upside_2027q4_royalty_cash |
| /operating_model/cells/upside_2027q4_royalty_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_royalty_cash:upside/label | None | Variable royalty plus minimum allowance |
| /operating_model/cells/upside_2027q4_royalty_cash:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_royalty_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_royalty_cash:upside/value | None | 8.032399999999999 |
| /operating_model/cells/upside_2027q4_royalty_topup:upside/basis | None | Desk allowance beyond percentage royalty; actual minimum/timing requires post-close disclosure. |
| /operating_model/cells/upside_2027q4_royalty_topup:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_royalty_topup:upside/id | None | upside_2027q4_royalty_topup |
| /operating_model/cells/upside_2027q4_royalty_topup:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_royalty_topup:upside/label | None | Royalty minimum and timing cash top-up |
| /operating_model/cells/upside_2027q4_royalty_topup:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_royalty_topup:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_royalty_topup:upside/value | None | 5.0 |
| /operating_model/cells/upside_2027q4_royalty_variable:upside/basis | None | Reference contractual rate, applied to modeled external sales. |
| /operating_model/cells/upside_2027q4_royalty_variable:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_royalty_variable:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q4_royalty_variable:upside/formula/refs/0 | None | upside_2027q4_mine_revenue |
| /operating_model/cells/upside_2027q4_royalty_variable:upside/formula/refs/1 | None | royalty_rate |
| /operating_model/cells/upside_2027q4_royalty_variable:upside/id | None | upside_2027q4_royalty_variable |
| /operating_model/cells/upside_2027q4_royalty_variable:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_royalty_variable:upside/label | None | Variable mine royalty |
| /operating_model/cells/upside_2027q4_royalty_variable:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_royalty_variable:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_royalty_variable:upside/value | None | 3.0324 |
| /operating_model/cells/upside_2027q4_sbc:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_sbc:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_sbc:upside/id | None | upside_2027q4_sbc |
| /operating_model/cells/upside_2027q4_sbc:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_sbc:upside/label | None | Operating SBC |
| /operating_model/cells/upside_2027q4_sbc:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_sbc:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_sbc:upside/value | None | 13.0 |
| /operating_model/cells/upside_2027q4_transaction_cost:upside/basis | None | Desk cash settlement of fees; $96.372M pro forma reference is not confirmed paid at close. |
| /operating_model/cells/upside_2027q4_transaction_cost:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_transaction_cost:upside/id | None | upside_2027q4_transaction_cost |
| /operating_model/cells/upside_2027q4_transaction_cost:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_transaction_cost:upside/label | None | Acquisition transaction expense/cash proxy |
| /operating_model/cells/upside_2027q4_transaction_cost:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_transaction_cost:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_transaction_cost:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q4_treasury_income:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_treasury_income:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_treasury_income:upside/id | None | upside_2027q4_treasury_income |
| /operating_model/cells/upside_2027q4_treasury_income:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_treasury_income:upside/label | None | Cash treasury income |
| /operating_model/cells/upside_2027q4_treasury_income:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_treasury_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_treasury_income:upside/value | None | 4.0 |
| /operating_model/cells/upside_2027q4_treo_price:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_treo_price:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_treo_price:upside/id | None | upside_2027q4_treo_price |
| /operating_model/cells/upside_2027q4_treo_price:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_treo_price:upside/label | None | Realized blended TREO price in $M per tonne |
| /operating_model/cells/upside_2027q4_treo_price:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_treo_price:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_treo_price:upside/value | None | 0.038 |
| /operating_model/cells/upside_2027q4_working_capital:upside/basis | None | Desk assumption; not company guidance. |
| /operating_model/cells/upside_2027q4_working_capital:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_working_capital:upside/id | None | upside_2027q4_working_capital |
| /operating_model/cells/upside_2027q4_working_capital:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_working_capital:upside/label | None | Inventory receivable and other working-capital use |
| /operating_model/cells/upside_2027q4_working_capital:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_working_capital:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_working_capital:upside/value | None | 40.0 |
| /operating_model/cells/upside_fy2026_acquisition_cash:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2026_acquisition_cash:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_acquisition_cash:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_acquisition_cash:upside/formula/refs/0 | None | h1_acquisition_cash |
| /operating_model/cells/upside_fy2026_acquisition_cash:upside/formula/refs/1 | None | upside_2026q3_acquisition_cash |
| /operating_model/cells/upside_fy2026_acquisition_cash:upside/formula/refs/2 | None | upside_2026q4_acquisition_cash |
| /operating_model/cells/upside_fy2026_acquisition_cash:upside/id | None | upside_fy2026_acquisition_cash |
| /operating_model/cells/upside_fy2026_acquisition_cash:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_acquisition_cash:upside/label | None | Net acquisition cash ($M) |
| /operating_model/cells/upside_fy2026_acquisition_cash:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_acquisition_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_acquisition_cash:upside/value | None | 150.0 |
| /operating_model/cells/upside_fy2026_capex:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2026_capex:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_capex:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_capex:upside/formula/refs/0 | None | h1_capex |
| /operating_model/cells/upside_fy2026_capex:upside/formula/refs/1 | None | upside_2026q3_capex |
| /operating_model/cells/upside_fy2026_capex:upside/formula/refs/2 | None | upside_2026q4_capex |
| /operating_model/cells/upside_fy2026_capex:upside/id | None | upside_fy2026_capex |
| /operating_model/cells/upside_fy2026_capex:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_capex:upside/label | None | Cash capex and equipment deposits ($M) |
| /operating_model/cells/upside_fy2026_capex:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_capex:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_capex:upside/value | None | 358.38800000000003 |
| /operating_model/cells/upside_fy2026_cash_after_investing:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2026_cash_after_investing:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_cash_after_investing:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_cash_after_investing:upside/formula/refs/0 | None | h1_cash_after_investing |
| /operating_model/cells/upside_fy2026_cash_after_investing:upside/formula/refs/1 | None | upside_2026q3_cash_after_investing |
| /operating_model/cells/upside_fy2026_cash_after_investing:upside/formula/refs/2 | None | upside_2026q4_cash_after_investing |
| /operating_model/cells/upside_fy2026_cash_after_investing:upside/id | None | upside_fy2026_cash_after_investing |
| /operating_model/cells/upside_fy2026_cash_after_investing:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_cash_after_investing:upside/label | None | Cash after business investing ($M) |
| /operating_model/cells/upside_fy2026_cash_after_investing:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_cash_after_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_cash_after_investing:upside/value | None | -815.88935 |
| /operating_model/cells/upside_fy2026_cfo:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2026_cfo:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_cfo:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_cfo:upside/formula/refs/0 | None | h1_cfo |
| /operating_model/cells/upside_fy2026_cfo:upside/formula/refs/1 | None | upside_2026q3_cfo |
| /operating_model/cells/upside_fy2026_cfo:upside/formula/refs/2 | None | upside_2026q4_cfo |
| /operating_model/cells/upside_fy2026_cfo:upside/id | None | upside_fy2026_cfo |
| /operating_model/cells/upside_fy2026_cfo:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_cfo:upside/label | None | Operating cash flow proxy ($M) |
| /operating_model/cells/upside_fy2026_cfo:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_cfo:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_cfo:upside/value | None | -275.10135 |
| /operating_model/cells/upside_fy2026_fcf:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2026_fcf:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_fcf:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_fcf:upside/formula/refs/0 | None | h1_fcf |
| /operating_model/cells/upside_fy2026_fcf:upside/formula/refs/1 | None | upside_2026q3_fcf |
| /operating_model/cells/upside_fy2026_fcf:upside/formula/refs/2 | None | upside_2026q4_fcf |
| /operating_model/cells/upside_fy2026_fcf:upside/id | None | upside_fy2026_fcf |
| /operating_model/cells/upside_fy2026_fcf:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_fcf:upside/label | None | CFO less capex ($M) |
| /operating_model/cells/upside_fy2026_fcf:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_fcf:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_fcf:upside/value | None | -633.4893500000001 |
| /operating_model/cells/upside_fy2026_gross_contribution:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2026_gross_contribution:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_gross_contribution:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_gross_contribution:upside/formula/refs/0 | None | h1_gross_contribution |
| /operating_model/cells/upside_fy2026_gross_contribution:upside/formula/refs/1 | None | upside_2026q3_gross_contribution |
| /operating_model/cells/upside_fy2026_gross_contribution:upside/formula/refs/2 | None | upside_2026q4_gross_contribution |
| /operating_model/cells/upside_fy2026_gross_contribution:upside/id | None | upside_fy2026_gross_contribution |
| /operating_model/cells/upside_fy2026_gross_contribution:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_gross_contribution:upside/label | None | Gross contribution before D&A ($M) |
| /operating_model/cells/upside_fy2026_gross_contribution:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_gross_contribution:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_gross_contribution:upside/value | None | 11.666533333333332 |
| /operating_model/cells/upside_fy2026_legacy_revenue:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2026_legacy_revenue:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_legacy_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_legacy_revenue:upside/formula/refs/0 | None | h1_legacy_revenue |
| /operating_model/cells/upside_fy2026_legacy_revenue:upside/formula/refs/1 | None | upside_2026q3_legacy_revenue |
| /operating_model/cells/upside_fy2026_legacy_revenue:upside/formula/refs/2 | None | upside_2026q4_legacy_revenue |
| /operating_model/cells/upside_fy2026_legacy_revenue:upside/id | None | upside_fy2026_legacy_revenue |
| /operating_model/cells/upside_fy2026_legacy_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_legacy_revenue:upside/label | None | Legacy alloy and service revenue ($M) |
| /operating_model/cells/upside_fy2026_legacy_revenue:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_legacy_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_legacy_revenue:upside/value | None | 27.519 |
| /operating_model/cells/upside_fy2026_magnet_revenue:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2026_magnet_revenue:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_magnet_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_magnet_revenue:upside/formula/refs/0 | None | h1_magnet_revenue |
| /operating_model/cells/upside_fy2026_magnet_revenue:upside/formula/refs/1 | None | upside_2026q3_magnet_revenue |
| /operating_model/cells/upside_fy2026_magnet_revenue:upside/formula/refs/2 | None | upside_2026q4_magnet_revenue |
| /operating_model/cells/upside_fy2026_magnet_revenue:upside/id | None | upside_fy2026_magnet_revenue |
| /operating_model/cells/upside_fy2026_magnet_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_magnet_revenue:upside/label | None | Accepted magnet sales ($M) |
| /operating_model/cells/upside_fy2026_magnet_revenue:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_magnet_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_magnet_revenue:upside/value | None | 3.3000000000000003 |
| /operating_model/cells/upside_fy2026_mine_revenue:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2026_mine_revenue:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_mine_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_mine_revenue:upside/formula/refs/0 | None | h1_mine_revenue |
| /operating_model/cells/upside_fy2026_mine_revenue:upside/formula/refs/1 | None | upside_2026q3_mine_revenue |
| /operating_model/cells/upside_fy2026_mine_revenue:upside/formula/refs/2 | None | upside_2026q4_mine_revenue |
| /operating_model/cells/upside_fy2026_mine_revenue:upside/id | None | upside_fy2026_mine_revenue |
| /operating_model/cells/upside_fy2026_mine_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_mine_revenue:upside/label | None | Post-close mine revenue ($M) |
| /operating_model/cells/upside_fy2026_mine_revenue:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_mine_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_mine_revenue:upside/value | None | 36.35333333333333 |
| /operating_model/cells/upside_fy2026_minority_investment:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2026_minority_investment:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_minority_investment:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_minority_investment:upside/formula/refs/0 | None | h1_minority_investment |
| /operating_model/cells/upside_fy2026_minority_investment:upside/formula/refs/1 | None | upside_2026q3_minority_investment |
| /operating_model/cells/upside_fy2026_minority_investment:upside/formula/refs/2 | None | upside_2026q4_minority_investment |
| /operating_model/cells/upside_fy2026_minority_investment:upside/id | None | upside_fy2026_minority_investment |
| /operating_model/cells/upside_fy2026_minority_investment:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_minority_investment:upside/label | None | Minority investment cash ($M) |
| /operating_model/cells/upside_fy2026_minority_investment:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_minority_investment:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_minority_investment:upside/value | None | 32.4 |
| /operating_model/cells/upside_fy2026_operating_income:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2026_operating_income:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_operating_income:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_operating_income:upside/formula/refs/0 | None | h1_operating_income |
| /operating_model/cells/upside_fy2026_operating_income:upside/formula/refs/1 | None | upside_2026q3_operating_income |
| /operating_model/cells/upside_fy2026_operating_income:upside/formula/refs/2 | None | upside_2026q4_operating_income |
| /operating_model/cells/upside_fy2026_operating_income:upside/id | None | upside_fy2026_operating_income |
| /operating_model/cells/upside_fy2026_operating_income:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_operating_income:upside/label | None | Operating income proxy ($M) |
| /operating_model/cells/upside_fy2026_operating_income:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_operating_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_operating_income:upside/value | None | -289.1830166666667 |
| /operating_model/cells/upside_fy2026_revenue:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2026_revenue:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_revenue:upside/formula/refs/0 | None | h1_revenue |
| /operating_model/cells/upside_fy2026_revenue:upside/formula/refs/1 | None | upside_2026q3_revenue |
| /operating_model/cells/upside_fy2026_revenue:upside/formula/refs/2 | None | upside_2026q4_revenue |
| /operating_model/cells/upside_fy2026_revenue:upside/id | None | upside_fy2026_revenue |
| /operating_model/cells/upside_fy2026_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_revenue:upside/label | None | Consolidated revenue ($M) |
| /operating_model/cells/upside_fy2026_revenue:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_revenue:upside/value | None | 67.17233333333334 |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/formula/refs/0 | None | upside_2027q1_acquisition_cash |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/formula/refs/1 | None | upside_2027q2_acquisition_cash |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/formula/refs/2 | None | upside_2027q3_acquisition_cash |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/formula/refs/3 | None | upside_2027q4_acquisition_cash |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/id | None | upside_fy2027_acquisition_cash |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/label | None | Net acquisition cash ($M) |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_acquisition_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_fy2027_capex:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2027_capex:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_capex:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_capex:upside/formula/refs/0 | None | upside_2027q1_capex |
| /operating_model/cells/upside_fy2027_capex:upside/formula/refs/1 | None | upside_2027q2_capex |
| /operating_model/cells/upside_fy2027_capex:upside/formula/refs/2 | None | upside_2027q3_capex |
| /operating_model/cells/upside_fy2027_capex:upside/formula/refs/3 | None | upside_2027q4_capex |
| /operating_model/cells/upside_fy2027_capex:upside/id | None | upside_fy2027_capex |
| /operating_model/cells/upside_fy2027_capex:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_capex:upside/label | None | Cash capex and equipment deposits ($M) |
| /operating_model/cells/upside_fy2027_capex:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_capex:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_capex:upside/value | None | 810.0 |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/formula/refs/0 | None | upside_2027q1_cash_after_investing |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/formula/refs/1 | None | upside_2027q2_cash_after_investing |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/formula/refs/2 | None | upside_2027q3_cash_after_investing |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/formula/refs/3 | None | upside_2027q4_cash_after_investing |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/id | None | upside_fy2027_cash_after_investing |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/label | None | Cash after business investing ($M) |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_cash_after_investing:upside/value | None | -1072.605725 |
| /operating_model/cells/upside_fy2027_cfo:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2027_cfo:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_cfo:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_cfo:upside/formula/refs/0 | None | upside_2027q1_cfo |
| /operating_model/cells/upside_fy2027_cfo:upside/formula/refs/1 | None | upside_2027q2_cfo |
| /operating_model/cells/upside_fy2027_cfo:upside/formula/refs/2 | None | upside_2027q3_cfo |
| /operating_model/cells/upside_fy2027_cfo:upside/formula/refs/3 | None | upside_2027q4_cfo |
| /operating_model/cells/upside_fy2027_cfo:upside/id | None | upside_fy2027_cfo |
| /operating_model/cells/upside_fy2027_cfo:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_cfo:upside/label | None | Operating cash flow proxy ($M) |
| /operating_model/cells/upside_fy2027_cfo:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_cfo:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_cfo:upside/value | None | -262.605725 |
| /operating_model/cells/upside_fy2027_fcf:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2027_fcf:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_fcf:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_fcf:upside/formula/refs/0 | None | upside_2027q1_fcf |
| /operating_model/cells/upside_fy2027_fcf:upside/formula/refs/1 | None | upside_2027q2_fcf |
| /operating_model/cells/upside_fy2027_fcf:upside/formula/refs/2 | None | upside_2027q3_fcf |
| /operating_model/cells/upside_fy2027_fcf:upside/formula/refs/3 | None | upside_2027q4_fcf |
| /operating_model/cells/upside_fy2027_fcf:upside/id | None | upside_fy2027_fcf |
| /operating_model/cells/upside_fy2027_fcf:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_fcf:upside/label | None | CFO less capex ($M) |
| /operating_model/cells/upside_fy2027_fcf:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_fcf:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_fcf:upside/value | None | -1072.605725 |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/formula/refs/0 | None | upside_2027q1_gross_contribution |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/formula/refs/1 | None | upside_2027q2_gross_contribution |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/formula/refs/2 | None | upside_2027q3_gross_contribution |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/formula/refs/3 | None | upside_2027q4_gross_contribution |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/id | None | upside_fy2027_gross_contribution |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/label | None | Gross contribution before D&A ($M) |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_gross_contribution:upside/value | None | 92.54795 |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/formula/refs/0 | None | upside_2027q1_legacy_revenue |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/formula/refs/1 | None | upside_2027q2_legacy_revenue |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/formula/refs/2 | None | upside_2027q3_legacy_revenue |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/formula/refs/3 | None | upside_2027q4_legacy_revenue |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/id | None | upside_fy2027_legacy_revenue |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/label | None | Legacy alloy and service revenue ($M) |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_legacy_revenue:upside/value | None | 69.0 |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/formula/refs/0 | None | upside_2027q1_magnet_revenue |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/formula/refs/1 | None | upside_2027q2_magnet_revenue |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/formula/refs/2 | None | upside_2027q3_magnet_revenue |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/formula/refs/3 | None | upside_2027q4_magnet_revenue |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/id | None | upside_fy2027_magnet_revenue |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/label | None | Accepted magnet sales ($M) |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_magnet_revenue:upside/value | None | 70.62 |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/formula/refs/0 | None | upside_2027q1_mine_revenue |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/formula/refs/1 | None | upside_2027q2_mine_revenue |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/formula/refs/2 | None | upside_2027q3_mine_revenue |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/formula/refs/3 | None | upside_2027q4_mine_revenue |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/id | None | upside_fy2027_mine_revenue |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/label | None | Post-close mine revenue ($M) |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_mine_revenue:upside/value | None | 200.07 |
| /operating_model/cells/upside_fy2027_minority_investment:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2027_minority_investment:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_minority_investment:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_minority_investment:upside/formula/refs/0 | None | upside_2027q1_minority_investment |
| /operating_model/cells/upside_fy2027_minority_investment:upside/formula/refs/1 | None | upside_2027q2_minority_investment |
| /operating_model/cells/upside_fy2027_minority_investment:upside/formula/refs/2 | None | upside_2027q3_minority_investment |
| /operating_model/cells/upside_fy2027_minority_investment:upside/formula/refs/3 | None | upside_2027q4_minority_investment |
| /operating_model/cells/upside_fy2027_minority_investment:upside/id | None | upside_fy2027_minority_investment |
| /operating_model/cells/upside_fy2027_minority_investment:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_minority_investment:upside/label | None | Minority investment cash ($M) |
| /operating_model/cells/upside_fy2027_minority_investment:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_minority_investment:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_minority_investment:upside/value | None | 0.0 |
| /operating_model/cells/upside_fy2027_operating_income:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2027_operating_income:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_operating_income:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_operating_income:upside/formula/refs/0 | None | upside_2027q1_operating_income |
| /operating_model/cells/upside_fy2027_operating_income:upside/formula/refs/1 | None | upside_2027q2_operating_income |
| /operating_model/cells/upside_fy2027_operating_income:upside/formula/refs/2 | None | upside_2027q3_operating_income |
| /operating_model/cells/upside_fy2027_operating_income:upside/formula/refs/3 | None | upside_2027q4_operating_income |
| /operating_model/cells/upside_fy2027_operating_income:upside/id | None | upside_fy2027_operating_income |
| /operating_model/cells/upside_fy2027_operating_income:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_operating_income:upside/label | None | Operating income proxy ($M) |
| /operating_model/cells/upside_fy2027_operating_income:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_operating_income:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_operating_income:upside/value | None | -237.855725 |
| /operating_model/cells/upside_fy2027_revenue:upside/basis | None | Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. |
| /operating_model/cells/upside_fy2027_revenue:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_revenue:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_revenue:upside/formula/refs/0 | None | upside_2027q1_revenue |
| /operating_model/cells/upside_fy2027_revenue:upside/formula/refs/1 | None | upside_2027q2_revenue |
| /operating_model/cells/upside_fy2027_revenue:upside/formula/refs/2 | None | upside_2027q3_revenue |
| /operating_model/cells/upside_fy2027_revenue:upside/formula/refs/3 | None | upside_2027q4_revenue |
| /operating_model/cells/upside_fy2027_revenue:upside/id | None | upside_fy2027_revenue |
| /operating_model/cells/upside_fy2027_revenue:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_revenue:upside/label | None | Consolidated revenue ($M) |
| /operating_model/cells/upside_fy2027_revenue:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_revenue:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_revenue:upside/value | None | 339.69 |
| /operating_model/cells/yearend_runrate:shared/basis | None | Physical tonnes per year, encoded as a count; not shipped tonnage or revenue. |
| /operating_model/cells/yearend_runrate:shared/case | None | shared |
| /operating_model/cells/yearend_runrate:shared/id | None | yearend_runrate |
| /operating_model/cells/yearend_runrate:shared/kind | None | management_guidance |
| /operating_model/cells/yearend_runrate:shared/label | None | Year-end annual TREO run-rate target |
| /operating_model/cells/yearend_runrate:shared/period | None | 2026 year end |
| /operating_model/cells/yearend_runrate:shared/source_date | None | 2026-09-04 |
| /operating_model/cells/yearend_runrate:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026097399/ea030400101ex99-1.htm |
| /operating_model/cells/yearend_runrate:shared/unit | None | ratio |
| /operating_model/cells/yearend_runrate:shared/value | None | 4000.0 |
| /operating_model/highlights/0 | None | h1_revenue |
| /operating_model/highlights/1 | None | h1_cfo |
| /operating_model/highlights/10 | None | dfc_june_principal |
| /operating_model/highlights/11 | None | dfc_extinguished |
| /operating_model/highlights/12 | None | dfc_remaining_reference |
| /operating_model/highlights/13 | None | transaction_cost_reference |
| /operating_model/highlights/14 | None | government_grant_capacity |
| /operating_model/highlights/15 | None | government_loan_capacity |
| /operating_model/highlights/16 | None | government_deferred_cost |
| /operating_model/highlights/17 | None | yearend_runrate |
| /operating_model/highlights/2 | None | h1_capex |
| /operating_model/highlights/3 | None | h1_fcf |
| /operating_model/highlights/4 | None | cash |
| /operating_model/highlights/5 | None | restricted |
| /operating_model/highlights/6 | None | acquisition_gross_cash |
| /operating_model/highlights/7 | None | acquisition_shares |
| /operating_model/highlights/8 | None | sv_june_cash |
| /operating_model/highlights/9 | None | sv_h1_revenue |
| /operating_model/limitations/0 | None | Serra Verde closed September 3 for $300M cash and 126,849,307 shares. H1 USAR history is not retrospectively replaced with combined pro forma history. Q3 uses a one-month acquired operating approximation; actual closing-date accounting will differ. |
| /operating_model/limitations/1 | None | Year-end 4,000-ton annual TREO run rate and subsequent 6,400-ton annual-average capacity plan are operating targets, not shipment or revenue guidance. Desk utilization, sale timing and blended price are explicit; undisclosed offtake price floors are not invented. |
| /operating_model/limitations/2 | None | Mine revenue is modeled as external sales with no duplicate intercompany sale to LCM or magnets. Accepted magnet tonnage is separate from installed/nameplate capacity; Round Top contributes no mined revenue in the horizon. |
| /operating_model/limitations/3 | None | Serra Verde reported only $0.588M H1 revenue in the furnished pro forma historical column. Production commissioning, inventory, acceptance and offtake commencement can delay recognized sales despite large future capacity targets. |
| /operating_model/limitations/4 | None | Royalty cash includes a 5.25% variable sensitivity and a separate minimum-payment top-up allowance. Actual contractual minimums and amortized-cost accounting may differ. The royalty liability is not deducted from cash in one lump sum. |
| /operating_model/limitations/5 | None | The pro forma June balance sheet is illustrative, not a September cash balance. Acquired June cash of $162.4M is a reference; modeled closing cash uses a haircut and is explicitly unverified until purchase accounting is filed. |
| /operating_model/limitations/6 | None | DFC June principal was $425M, of which the $100M incremental loan extinguished upon warrant exercise at close. Remaining $325M initial principal is a reference, not proof of September debt after any other draws. No automatic receipt of the $565M facility ceiling. |
| /operating_model/limitations/7 | None | The U.S. government arrangement provides up to $277M federal funding and $1.3B loan capacity subject to milestones. Counterparty financing in the offtake arrangement is not USAR cash. No future government or counterparty proceeds are included in modeled burn. |
| /operating_model/limitations/8 | None | Carester minority investment is signed, subject to closing conditions, and is not consolidated sales. A $32.4M cash scenario is included at different future dates; total expected consideration includes shares and FX exposure. |
| /operating_model/limitations/9 | None | Purchase-price allocation, depreciation, transaction-fee settlement, royalty floors and working capital are sensitivities pending post-close financials. No complete parent/subsidiary cash waterfall, restricted-reserve transfer, debt maturity or ownership/EPS model. |
| /operating_model/method | None | Preserve USAR reported H1 history and consolidate Serra Verde only from the September 3 close. Drive mine sales from average operating capacity, utilization, recognized-quarter fraction and realized TREO price; separately forecast legacy alloys/engineering and accepted magnet sales. Deduct cash production cost, project overhead, royalties and depreciation. Bridge operating profit to cash with treasury income, working capital and acquisition costs. Compare operating/capital burn with net acquisition and conditional minority-investment cash; do not assume undrawn government facilities are proceeds. |
| /operating_model/metrics/acquisition_cash | None | Net acquisition cash ($M) |
| /operating_model/metrics/capex | None | Cash capex and equipment deposits ($M) |
| /operating_model/metrics/cash_after_investing | None | Cash after business investing ($M) |
| /operating_model/metrics/cfo | None | Operating cash flow proxy ($M) |
| /operating_model/metrics/fcf | None | CFO less capex ($M) |
| /operating_model/metrics/gross_contribution | None | Gross contribution before D&A ($M) |
| /operating_model/metrics/legacy_revenue | None | Legacy alloy and service revenue ($M) |
| /operating_model/metrics/magnet_revenue | None | Accepted magnet sales ($M) |
| /operating_model/metrics/mine_revenue | None | Post-close mine revenue ($M) |
| /operating_model/metrics/minority_investment | None | Minority investment cash ($M) |
| /operating_model/metrics/operating_income | None | Operating income proxy ($M) |
| /operating_model/metrics/revenue | None | Consolidated revenue ($M) |
| /operating_model/outputs/2026Q3:base/case | None | base |
| /operating_model/outputs/2026Q3:base/frequency | None | quarter |
| /operating_model/outputs/2026Q3:base/metrics/acquisition_cash | None | base_2026q3_acquisition_cash |
| /operating_model/outputs/2026Q3:base/metrics/capex | None | base_2026q3_capex |
| /operating_model/outputs/2026Q3:base/metrics/cash_after_investing | None | base_2026q3_cash_after_investing |
| /operating_model/outputs/2026Q3:base/metrics/cfo | None | base_2026q3_cfo |
| /operating_model/outputs/2026Q3:base/metrics/fcf | None | base_2026q3_fcf |
| /operating_model/outputs/2026Q3:base/metrics/gross_contribution | None | base_2026q3_gross_contribution |
| /operating_model/outputs/2026Q3:base/metrics/legacy_revenue | None | base_2026q3_legacy_revenue |
| /operating_model/outputs/2026Q3:base/metrics/magnet_revenue | None | base_2026q3_magnet_revenue |
| /operating_model/outputs/2026Q3:base/metrics/mine_revenue | None | base_2026q3_mine_revenue |
| /operating_model/outputs/2026Q3:base/metrics/minority_investment | None | base_2026q3_minority_investment |
| /operating_model/outputs/2026Q3:base/metrics/operating_income | None | base_2026q3_operating_income |
| /operating_model/outputs/2026Q3:base/metrics/revenue | None | base_2026q3_revenue |
| /operating_model/outputs/2026Q3:base/period | None | 2026Q3 |
| /operating_model/outputs/2026Q3:base/period_end | None | 2026-09-30 |
| /operating_model/outputs/2026Q3:base/values/acquisition_cash | None | 160.0 |
| /operating_model/outputs/2026Q3:base/values/capex | None | 100.0 |
| /operating_model/outputs/2026Q3:base/values/cash_after_investing | None | -391.18162500000005 |
| /operating_model/outputs/2026Q3:base/values/cfo | None | -131.18162500000003 |
| /operating_model/outputs/2026Q3:base/values/fcf | None | -231.18162500000003 |
| /operating_model/outputs/2026Q3:base/values/gross_contribution | None | -1.4566666666666672 |
| /operating_model/outputs/2026Q3:base/values/legacy_revenue | None | 6.5 |
| /operating_model/outputs/2026Q3:base/values/magnet_revenue | None | 0.3 |
| /operating_model/outputs/2026Q3:base/values/mine_revenue | None | 2.4 |
| /operating_model/outputs/2026Q3:base/values/minority_investment | None | 0.0 |
| /operating_model/outputs/2026Q3:base/values/operating_income | None | -136.58266666666668 |
| /operating_model/outputs/2026Q3:base/values/revenue | None | 9.200000000000001 |
| /operating_model/outputs/2026Q3:downside/case | None | downside |
| /operating_model/outputs/2026Q3:downside/frequency | None | quarter |
| /operating_model/outputs/2026Q3:downside/metrics/acquisition_cash | None | downside_2026q3_acquisition_cash |
| /operating_model/outputs/2026Q3:downside/metrics/capex | None | downside_2026q3_capex |
| /operating_model/outputs/2026Q3:downside/metrics/cash_after_investing | None | downside_2026q3_cash_after_investing |
| /operating_model/outputs/2026Q3:downside/metrics/cfo | None | downside_2026q3_cfo |
| /operating_model/outputs/2026Q3:downside/metrics/fcf | None | downside_2026q3_fcf |
| /operating_model/outputs/2026Q3:downside/metrics/gross_contribution | None | downside_2026q3_gross_contribution |
| /operating_model/outputs/2026Q3:downside/metrics/legacy_revenue | None | downside_2026q3_legacy_revenue |
| /operating_model/outputs/2026Q3:downside/metrics/magnet_revenue | None | downside_2026q3_magnet_revenue |
| /operating_model/outputs/2026Q3:downside/metrics/mine_revenue | None | downside_2026q3_mine_revenue |
| /operating_model/outputs/2026Q3:downside/metrics/minority_investment | None | downside_2026q3_minority_investment |
| /operating_model/outputs/2026Q3:downside/metrics/operating_income | None | downside_2026q3_operating_income |
| /operating_model/outputs/2026Q3:downside/metrics/revenue | None | downside_2026q3_revenue |
| /operating_model/outputs/2026Q3:downside/period | None | 2026Q3 |
| /operating_model/outputs/2026Q3:downside/period_end | None | 2026-09-30 |
| /operating_model/outputs/2026Q3:downside/values/acquisition_cash | None | 170.0 |
| /operating_model/outputs/2026Q3:downside/values/capex | None | 110.0 |
| /operating_model/outputs/2026Q3:downside/values/cash_after_investing | None | -423.9363020833333 |
| /operating_model/outputs/2026Q3:downside/values/cfo | None | -143.93630208333332 |
| /operating_model/outputs/2026Q3:downside/values/fcf | None | -253.93630208333332 |
| /operating_model/outputs/2026Q3:downside/values/gross_contribution | None | -3.962708333333333 |
| /operating_model/outputs/2026Q3:downside/values/legacy_revenue | None | 6.0 |
| /operating_model/outputs/2026Q3:downside/values/magnet_revenue | None | 0.0 |
| /operating_model/outputs/2026Q3:downside/values/mine_revenue | None | 0.6875 |
| /operating_model/outputs/2026Q3:downside/values/minority_investment | None | 0.0 |
| /operating_model/outputs/2026Q3:downside/values/operating_income | None | -148.99880208333332 |
| /operating_model/outputs/2026Q3:downside/values/revenue | None | 6.6875 |
| /operating_model/outputs/2026Q3:upside/case | None | upside |
| /operating_model/outputs/2026Q3:upside/frequency | None | quarter |
| /operating_model/outputs/2026Q3:upside/metrics/acquisition_cash | None | upside_2026q3_acquisition_cash |
| /operating_model/outputs/2026Q3:upside/metrics/capex | None | upside_2026q3_capex |
| /operating_model/outputs/2026Q3:upside/metrics/cash_after_investing | None | upside_2026q3_cash_after_investing |
| /operating_model/outputs/2026Q3:upside/metrics/cfo | None | upside_2026q3_cfo |
| /operating_model/outputs/2026Q3:upside/metrics/fcf | None | upside_2026q3_fcf |
| /operating_model/outputs/2026Q3:upside/metrics/gross_contribution | None | upside_2026q3_gross_contribution |
| /operating_model/outputs/2026Q3:upside/metrics/legacy_revenue | None | upside_2026q3_legacy_revenue |
| /operating_model/outputs/2026Q3:upside/metrics/magnet_revenue | None | upside_2026q3_magnet_revenue |
| /operating_model/outputs/2026Q3:upside/metrics/mine_revenue | None | upside_2026q3_mine_revenue |
| /operating_model/outputs/2026Q3:upside/metrics/minority_investment | None | upside_2026q3_minority_investment |
| /operating_model/outputs/2026Q3:upside/metrics/operating_income | None | upside_2026q3_operating_income |
| /operating_model/outputs/2026Q3:upside/metrics/revenue | None | upside_2026q3_revenue |
| /operating_model/outputs/2026Q3:upside/period | None | 2026Q3 |
| /operating_model/outputs/2026Q3:upside/period_end | None | 2026-09-30 |
| /operating_model/outputs/2026Q3:upside/values/acquisition_cash | None | 150.0 |
| /operating_model/outputs/2026Q3:upside/values/capex | None | 110.0 |
| /operating_model/outputs/2026Q3:upside/values/cash_after_investing | None | -386.98185 |
| /operating_model/outputs/2026Q3:upside/values/cfo | None | -126.98185 |
| /operating_model/outputs/2026Q3:upside/values/fcf | None | -236.98185 |
| /operating_model/outputs/2026Q3:upside/values/gross_contribution | None | 0.6467333333333334 |
| /operating_model/outputs/2026Q3:upside/values/legacy_revenue | None | 7.0 |
| /operating_model/outputs/2026Q3:upside/values/magnet_revenue | None | 0.66 |
| /operating_model/outputs/2026Q3:upside/values/mine_revenue | None | 4.433333333333333 |
| /operating_model/outputs/2026Q3:upside/values/minority_investment | None | 0.0 |
| /operating_model/outputs/2026Q3:upside/values/operating_income | None | -132.58601666666667 |
| /operating_model/outputs/2026Q3:upside/values/revenue | None | 12.093333333333334 |
| /operating_model/outputs/2026Q4:base/case | None | base |
| /operating_model/outputs/2026Q4:base/frequency | None | quarter |
| /operating_model/outputs/2026Q4:base/metrics/acquisition_cash | None | base_2026q4_acquisition_cash |
| /operating_model/outputs/2026Q4:base/metrics/capex | None | base_2026q4_capex |
| /operating_model/outputs/2026Q4:base/metrics/cash_after_investing | None | base_2026q4_cash_after_investing |
| /operating_model/outputs/2026Q4:base/metrics/cfo | None | base_2026q4_cfo |
| /operating_model/outputs/2026Q4:base/metrics/fcf | None | base_2026q4_fcf |
| /operating_model/outputs/2026Q4:base/metrics/gross_contribution | None | base_2026q4_gross_contribution |
| /operating_model/outputs/2026Q4:base/metrics/legacy_revenue | None | base_2026q4_legacy_revenue |
| /operating_model/outputs/2026Q4:base/metrics/magnet_revenue | None | base_2026q4_magnet_revenue |
| /operating_model/outputs/2026Q4:base/metrics/mine_revenue | None | base_2026q4_mine_revenue |
| /operating_model/outputs/2026Q4:base/metrics/minority_investment | None | base_2026q4_minority_investment |
| /operating_model/outputs/2026Q4:base/metrics/operating_income | None | base_2026q4_operating_income |
| /operating_model/outputs/2026Q4:base/metrics/revenue | None | base_2026q4_revenue |
| /operating_model/outputs/2026Q4:base/period | None | 2026Q4 |
| /operating_model/outputs/2026Q4:base/period_end | None | 2026-12-31 |
| /operating_model/outputs/2026Q4:base/values/acquisition_cash | None | 0.0 |
| /operating_model/outputs/2026Q4:base/values/capex | None | 130.0 |
| /operating_model/outputs/2026Q4:base/values/cash_after_investing | None | -249.076875 |
| /operating_model/outputs/2026Q4:base/values/cfo | None | -86.676875 |
| /operating_model/outputs/2026Q4:base/values/fcf | None | -216.676875 |
| /operating_model/outputs/2026Q4:base/values/gross_contribution | None | -0.9349999999999987 |
| /operating_model/outputs/2026Q4:base/values/legacy_revenue | None | 8.0 |
| /operating_model/outputs/2026Q4:base/values/magnet_revenue | None | 1.5 |
| /operating_model/outputs/2026Q4:base/values/mine_revenue | None | 18.0 |
| /operating_model/outputs/2026Q4:base/values/minority_investment | None | 32.4 |
| /operating_model/outputs/2026Q4:base/values/operating_income | None | -86.88 |
| /operating_model/outputs/2026Q4:base/values/revenue | None | 27.5 |
| /operating_model/outputs/2026Q4:downside/case | None | downside |
| /operating_model/outputs/2026Q4:downside/frequency | None | quarter |
| /operating_model/outputs/2026Q4:downside/metrics/acquisition_cash | None | downside_2026q4_acquisition_cash |
| /operating_model/outputs/2026Q4:downside/metrics/capex | None | downside_2026q4_capex |
| /operating_model/outputs/2026Q4:downside/metrics/cash_after_investing | None | downside_2026q4_cash_after_investing |
| /operating_model/outputs/2026Q4:downside/metrics/cfo | None | downside_2026q4_cfo |
| /operating_model/outputs/2026Q4:downside/metrics/fcf | None | downside_2026q4_fcf |
| /operating_model/outputs/2026Q4:downside/metrics/gross_contribution | None | downside_2026q4_gross_contribution |
| /operating_model/outputs/2026Q4:downside/metrics/legacy_revenue | None | downside_2026q4_legacy_revenue |
| /operating_model/outputs/2026Q4:downside/metrics/magnet_revenue | None | downside_2026q4_magnet_revenue |
| /operating_model/outputs/2026Q4:downside/metrics/mine_revenue | None | downside_2026q4_mine_revenue |
| /operating_model/outputs/2026Q4:downside/metrics/minority_investment | None | downside_2026q4_minority_investment |
| /operating_model/outputs/2026Q4:downside/metrics/operating_income | None | downside_2026q4_operating_income |
| /operating_model/outputs/2026Q4:downside/metrics/revenue | None | downside_2026q4_revenue |
| /operating_model/outputs/2026Q4:downside/period | None | 2026Q4 |
| /operating_model/outputs/2026Q4:downside/period_end | None | 2026-12-31 |
| /operating_model/outputs/2026Q4:downside/values/acquisition_cash | None | 0.0 |
| /operating_model/outputs/2026Q4:downside/values/capex | None | 150.0 |
| /operating_model/outputs/2026Q4:downside/values/cash_after_investing | None | -259.19059375 |
| /operating_model/outputs/2026Q4:downside/values/cfo | None | -109.19059375 |
| /operating_model/outputs/2026Q4:downside/values/fcf | None | -259.19059375 |
| /operating_model/outputs/2026Q4:downside/values/gross_contribution | None | -12.274375 |
| /operating_model/outputs/2026Q4:downside/values/legacy_revenue | None | 6.5 |
| /operating_model/outputs/2026Q4:downside/values/magnet_revenue | None | 0.52 |
| /operating_model/outputs/2026Q4:downside/values/mine_revenue | None | 6.7375 |
| /operating_model/outputs/2026Q4:downside/values/minority_investment | None | 0.0 |
| /operating_model/outputs/2026Q4:downside/values/operating_income | None | -108.37809375 |
| /operating_model/outputs/2026Q4:downside/values/revenue | None | 13.7575 |
| /operating_model/outputs/2026Q4:upside/case | None | upside |
| /operating_model/outputs/2026Q4:upside/frequency | None | quarter |
| /operating_model/outputs/2026Q4:upside/metrics/acquisition_cash | None | upside_2026q4_acquisition_cash |
| /operating_model/outputs/2026Q4:upside/metrics/capex | None | upside_2026q4_capex |
| /operating_model/outputs/2026Q4:upside/metrics/cash_after_investing | None | upside_2026q4_cash_after_investing |
| /operating_model/outputs/2026Q4:upside/metrics/cfo | None | upside_2026q4_cfo |
| /operating_model/outputs/2026Q4:upside/metrics/fcf | None | upside_2026q4_fcf |
| /operating_model/outputs/2026Q4:upside/metrics/gross_contribution | None | upside_2026q4_gross_contribution |
| /operating_model/outputs/2026Q4:upside/metrics/legacy_revenue | None | upside_2026q4_legacy_revenue |
| /operating_model/outputs/2026Q4:upside/metrics/magnet_revenue | None | upside_2026q4_magnet_revenue |
| /operating_model/outputs/2026Q4:upside/metrics/mine_revenue | None | upside_2026q4_mine_revenue |
| /operating_model/outputs/2026Q4:upside/metrics/minority_investment | None | upside_2026q4_minority_investment |
| /operating_model/outputs/2026Q4:upside/metrics/operating_income | None | upside_2026q4_operating_income |
| /operating_model/outputs/2026Q4:upside/metrics/revenue | None | upside_2026q4_revenue |
| /operating_model/outputs/2026Q4:upside/period | None | 2026Q4 |
| /operating_model/outputs/2026Q4:upside/period_end | None | 2026-12-31 |
| /operating_model/outputs/2026Q4:upside/values/acquisition_cash | None | 0.0 |
| /operating_model/outputs/2026Q4:upside/values/capex | None | 140.0 |
| /operating_model/outputs/2026Q4:upside/values/cash_after_investing | None | -245.1955 |
| /operating_model/outputs/2026Q4:upside/values/cfo | None | -72.7955 |
| /operating_model/outputs/2026Q4:upside/values/fcf | None | -212.7955 |
| /operating_model/outputs/2026Q4:upside/values/gross_contribution | None | 10.917799999999998 |
| /operating_model/outputs/2026Q4:upside/values/legacy_revenue | None | 9.0 |
| /operating_model/outputs/2026Q4:upside/values/magnet_revenue | None | 2.64 |
| /operating_model/outputs/2026Q4:upside/values/mine_revenue | None | 31.919999999999998 |
| /operating_model/outputs/2026Q4:upside/values/minority_investment | None | 32.4 |
| /operating_model/outputs/2026Q4:upside/values/operating_income | None | -73.608 |
| /operating_model/outputs/2026Q4:upside/values/revenue | None | 43.56 |
| /operating_model/outputs/2027Q1:base/case | None | base |
| /operating_model/outputs/2027Q1:base/frequency | None | quarter |
| /operating_model/outputs/2027Q1:base/metrics/acquisition_cash | None | base_2027q1_acquisition_cash |
| /operating_model/outputs/2027Q1:base/metrics/capex | None | base_2027q1_capex |
| /operating_model/outputs/2027Q1:base/metrics/cash_after_investing | None | base_2027q1_cash_after_investing |
| /operating_model/outputs/2027Q1:base/metrics/cfo | None | base_2027q1_cfo |
| /operating_model/outputs/2027Q1:base/metrics/fcf | None | base_2027q1_fcf |
| /operating_model/outputs/2027Q1:base/metrics/gross_contribution | None | base_2027q1_gross_contribution |
| /operating_model/outputs/2027Q1:base/metrics/legacy_revenue | None | base_2027q1_legacy_revenue |
| /operating_model/outputs/2027Q1:base/metrics/magnet_revenue | None | base_2027q1_magnet_revenue |
| /operating_model/outputs/2027Q1:base/metrics/mine_revenue | None | base_2027q1_mine_revenue |
| /operating_model/outputs/2027Q1:base/metrics/minority_investment | None | base_2027q1_minority_investment |
| /operating_model/outputs/2027Q1:base/metrics/operating_income | None | base_2027q1_operating_income |
| /operating_model/outputs/2027Q1:base/metrics/revenue | None | base_2027q1_revenue |
| /operating_model/outputs/2027Q1:base/period | None | 2027Q1 |
| /operating_model/outputs/2027Q1:base/period_end | None | 2027-03-31 |
| /operating_model/outputs/2027Q1:base/values/acquisition_cash | None | 0.0 |
| /operating_model/outputs/2027Q1:base/values/capex | None | 150.0 |
| /operating_model/outputs/2027Q1:base/values/cash_after_investing | None | -223.814375 |
| /operating_model/outputs/2027Q1:base/values/cfo | None | -73.81437500000001 |
| /operating_model/outputs/2027Q1:base/values/fcf | None | -223.814375 |
| /operating_model/outputs/2027Q1:base/values/gross_contribution | None | 3.3999999999999986 |
| /operating_model/outputs/2027Q1:base/values/legacy_revenue | None | 10.0 |
| /operating_model/outputs/2027Q1:base/values/magnet_revenue | None | 3.5999999999999996 |
| /operating_model/outputs/2027Q1:base/values/mine_revenue | None | 27.0 |
| /operating_model/outputs/2027Q1:base/values/minority_investment | None | 0.0 |
| /operating_model/outputs/2027Q1:base/values/operating_income | None | -70.01750000000001 |
| /operating_model/outputs/2027Q1:base/values/revenue | None | 40.6 |
| /operating_model/outputs/2027Q1:downside/case | None | downside |
| /operating_model/outputs/2027Q1:downside/frequency | None | quarter |
| /operating_model/outputs/2027Q1:downside/metrics/acquisition_cash | None | downside_2027q1_acquisition_cash |
| /operating_model/outputs/2027Q1:downside/metrics/capex | None | downside_2027q1_capex |
| /operating_model/outputs/2027Q1:downside/metrics/cash_after_investing | None | downside_2027q1_cash_after_investing |
| /operating_model/outputs/2027Q1:downside/metrics/cfo | None | downside_2027q1_cfo |
| /operating_model/outputs/2027Q1:downside/metrics/fcf | None | downside_2027q1_fcf |
| /operating_model/outputs/2027Q1:downside/metrics/gross_contribution | None | downside_2027q1_gross_contribution |
| /operating_model/outputs/2027Q1:downside/metrics/legacy_revenue | None | downside_2027q1_legacy_revenue |
| /operating_model/outputs/2027Q1:downside/metrics/magnet_revenue | None | downside_2027q1_magnet_revenue |
| /operating_model/outputs/2027Q1:downside/metrics/mine_revenue | None | downside_2027q1_mine_revenue |
| /operating_model/outputs/2027Q1:downside/metrics/minority_investment | None | downside_2027q1_minority_investment |
| /operating_model/outputs/2027Q1:downside/metrics/operating_income | None | downside_2027q1_operating_income |
| /operating_model/outputs/2027Q1:downside/metrics/revenue | None | downside_2027q1_revenue |
| /operating_model/outputs/2027Q1:downside/period | None | 2027Q1 |
| /operating_model/outputs/2027Q1:downside/period_end | None | 2027-03-31 |
| /operating_model/outputs/2027Q1:downside/values/acquisition_cash | None | 0.0 |
| /operating_model/outputs/2027Q1:downside/values/capex | None | 160.0 |
| /operating_model/outputs/2027Q1:downside/values/cash_after_investing | None | -260.8850125 |
| /operating_model/outputs/2027Q1:downside/values/cfo | None | -100.8850125 |
| /operating_model/outputs/2027Q1:downside/values/fcf | None | -260.8850125 |
| /operating_model/outputs/2027Q1:downside/values/gross_contribution | None | -12.078750000000003 |
| /operating_model/outputs/2027Q1:downside/values/legacy_revenue | None | 7.0 |
| /operating_model/outputs/2027Q1:downside/values/magnet_revenue | None | 1.3 |
| /operating_model/outputs/2027Q1:downside/values/mine_revenue | None | 9.405 |
| /operating_model/outputs/2027Q1:downside/values/minority_investment | None | 0.0 |
| /operating_model/outputs/2027Q1:downside/values/operating_income | None | -96.0725125 |
| /operating_model/outputs/2027Q1:downside/values/revenue | None | 17.705000000000002 |
| /operating_model/outputs/2027Q1:upside/case | None | upside |
| /operating_model/outputs/2027Q1:upside/frequency | None | quarter |
| /operating_model/outputs/2027Q1:upside/metrics/acquisition_cash | None | upside_2027q1_acquisition_cash |
| /operating_model/outputs/2027Q1:upside/metrics/capex | None | upside_2027q1_capex |
| /operating_model/outputs/2027Q1:upside/metrics/cash_after_investing | None | upside_2027q1_cash_after_investing |
| /operating_model/outputs/2027Q1:upside/metrics/cfo | None | upside_2027q1_cfo |
| /operating_model/outputs/2027Q1:upside/metrics/fcf | None | upside_2027q1_fcf |
| /operating_model/outputs/2027Q1:upside/metrics/gross_contribution | None | upside_2027q1_gross_contribution |
| /operating_model/outputs/2027Q1:upside/metrics/legacy_revenue | None | upside_2027q1_legacy_revenue |
| /operating_model/outputs/2027Q1:upside/metrics/magnet_revenue | None | upside_2027q1_magnet_revenue |
| /operating_model/outputs/2027Q1:upside/metrics/mine_revenue | None | upside_2027q1_mine_revenue |
| /operating_model/outputs/2027Q1:upside/metrics/minority_investment | None | upside_2027q1_minority_investment |
| /operating_model/outputs/2027Q1:upside/metrics/operating_income | None | upside_2027q1_operating_income |
| /operating_model/outputs/2027Q1:upside/metrics/revenue | None | upside_2027q1_revenue |
| /operating_model/outputs/2027Q1:upside/period | None | 2027Q1 |
| /operating_model/outputs/2027Q1:upside/period_end | None | 2027-03-31 |
| /operating_model/outputs/2027Q1:upside/values/acquisition_cash | None | 0.0 |
| /operating_model/outputs/2027Q1:upside/values/capex | None | 160.0 |
| /operating_model/outputs/2027Q1:upside/values/cash_after_investing | None | -220.99455 |
| /operating_model/outputs/2027Q1:upside/values/cfo | None | -60.99455 |
| /operating_model/outputs/2027Q1:upside/values/fcf | None | -220.99455 |
| /operating_model/outputs/2027Q1:upside/values/gross_contribution | None | 13.868 |
| /operating_model/outputs/2027Q1:upside/values/legacy_revenue | None | 12.0 |
| /operating_model/outputs/2027Q1:upside/values/magnet_revenue | None | 6.6000000000000005 |
| /operating_model/outputs/2027Q1:upside/values/mine_revenue | None | 37.62 |
| /operating_model/outputs/2027Q1:upside/values/minority_investment | None | 0.0 |
| /operating_model/outputs/2027Q1:upside/values/operating_income | None | -57.80705 |
| /operating_model/outputs/2027Q1:upside/values/revenue | None | 56.22 |
| /operating_model/outputs/2027Q2:base/case | None | base |
| /operating_model/outputs/2027Q2:base/frequency | None | quarter |
| /operating_model/outputs/2027Q2:base/metrics/acquisition_cash | None | base_2027q2_acquisition_cash |
| /operating_model/outputs/2027Q2:base/metrics/capex | None | base_2027q2_capex |
| /operating_model/outputs/2027Q2:base/metrics/cash_after_investing | None | base_2027q2_cash_after_investing |
| /operating_model/outputs/2027Q2:base/metrics/cfo | None | base_2027q2_cfo |
| /operating_model/outputs/2027Q2:base/metrics/fcf | None | base_2027q2_fcf |
| /operating_model/outputs/2027Q2:base/metrics/gross_contribution | None | base_2027q2_gross_contribution |
| /operating_model/outputs/2027Q2:base/metrics/legacy_revenue | None | base_2027q2_legacy_revenue |
| /operating_model/outputs/2027Q2:base/metrics/magnet_revenue | None | base_2027q2_magnet_revenue |
| /operating_model/outputs/2027Q2:base/metrics/mine_revenue | None | base_2027q2_mine_revenue |
| /operating_model/outputs/2027Q2:base/metrics/minority_investment | None | base_2027q2_minority_investment |
| /operating_model/outputs/2027Q2:base/metrics/operating_income | None | base_2027q2_operating_income |
| /operating_model/outputs/2027Q2:base/metrics/revenue | None | base_2027q2_revenue |
| /operating_model/outputs/2027Q2:base/period | None | 2027Q2 |
| /operating_model/outputs/2027Q2:base/period_end | None | 2027-06-30 |
| /operating_model/outputs/2027Q2:base/values/acquisition_cash | None | 0.0 |
| /operating_model/outputs/2027Q2:base/values/capex | None | 170.0 |
| /operating_model/outputs/2027Q2:base/values/cash_after_investing | None | -251.010625 |
| /operating_model/outputs/2027Q2:base/values/cfo | None | -81.010625 |
| /operating_model/outputs/2027Q2:base/values/fcf | None | -251.010625 |
| /operating_model/outputs/2027Q2:base/values/gross_contribution | None | 5.439999999999997 |
| /operating_model/outputs/2027Q2:base/values/legacy_revenue | None | 12.0 |
| /operating_model/outputs/2027Q2:base/values/magnet_revenue | None | 7.199999999999999 |
| /operating_model/outputs/2027Q2:base/values/mine_revenue | None | 31.5 |
| /operating_model/outputs/2027Q2:base/values/minority_investment | None | 0.0 |
| /operating_model/outputs/2027Q2:base/values/operating_income | None | -75.21375 |
| /operating_model/outputs/2027Q2:base/values/revenue | None | 50.7 |
| /operating_model/outputs/2027Q2:downside/case | None | downside |
| /operating_model/outputs/2027Q2:downside/frequency | None | quarter |
| /operating_model/outputs/2027Q2:downside/metrics/acquisition_cash | None | downside_2027q2_acquisition_cash |
| /operating_model/outputs/2027Q2:downside/metrics/capex | None | downside_2027q2_capex |
| /operating_model/outputs/2027Q2:downside/metrics/cash_after_investing | None | downside_2027q2_cash_after_investing |
| /operating_model/outputs/2027Q2:downside/metrics/cfo | None | downside_2027q2_cfo |
| /operating_model/outputs/2027Q2:downside/metrics/fcf | None | downside_2027q2_fcf |
| /operating_model/outputs/2027Q2:downside/metrics/gross_contribution | None | downside_2027q2_gross_contribution |
| /operating_model/outputs/2027Q2:downside/metrics/legacy_revenue | None | downside_2027q2_legacy_revenue |
| /operating_model/outputs/2027Q2:downside/metrics/magnet_revenue | None | downside_2027q2_magnet_revenue |
| /operating_model/outputs/2027Q2:downside/metrics/mine_revenue | None | downside_2027q2_mine_revenue |
| /operating_model/outputs/2027Q2:downside/metrics/minority_investment | None | downside_2027q2_minority_investment |
| /operating_model/outputs/2027Q2:downside/metrics/operating_income | None | downside_2027q2_operating_income |
| /operating_model/outputs/2027Q2:downside/metrics/revenue | None | downside_2027q2_revenue |
| /operating_model/outputs/2027Q2:downside/period | None | 2027Q2 |
| /operating_model/outputs/2027Q2:downside/period_end | None | 2027-06-30 |
| /operating_model/outputs/2027Q2:downside/values/acquisition_cash | None | 0.0 |
| /operating_model/outputs/2027Q2:downside/values/capex | None | 180.0 |
| /operating_model/outputs/2027Q2:downside/values/cash_after_investing | None | -323.0775 |
| /operating_model/outputs/2027Q2:downside/values/cfo | None | -110.67750000000001 |
| /operating_model/outputs/2027Q2:downside/values/fcf | None | -290.6775 |
| /operating_model/outputs/2027Q2:downside/values/gross_contribution | None | -12.037500000000001 |
| /operating_model/outputs/2027Q2:downside/values/legacy_revenue | None | 7.5 |
| /operating_model/outputs/2027Q2:downside/values/magnet_revenue | None | 2.6 |
| /operating_model/outputs/2027Q2:downside/values/mine_revenue | None | 11.0 |
| /operating_model/outputs/2027Q2:downside/values/minority_investment | None | 32.4 |
| /operating_model/outputs/2027Q2:downside/values/operating_income | None | -103.86500000000001 |
| /operating_model/outputs/2027Q2:downside/values/revenue | None | 21.1 |
| /operating_model/outputs/2027Q2:upside/case | None | upside |
| /operating_model/outputs/2027Q2:upside/frequency | None | quarter |
| /operating_model/outputs/2027Q2:upside/metrics/acquisition_cash | None | upside_2027q2_acquisition_cash |
| /operating_model/outputs/2027Q2:upside/metrics/capex | None | upside_2027q2_capex |
| /operating_model/outputs/2027Q2:upside/metrics/cash_after_investing | None | upside_2027q2_cash_after_investing |
| /operating_model/outputs/2027Q2:upside/metrics/cfo | None | upside_2027q2_cfo |
| /operating_model/outputs/2027Q2:upside/metrics/fcf | None | upside_2027q2_fcf |
| /operating_model/outputs/2027Q2:upside/metrics/gross_contribution | None | upside_2027q2_gross_contribution |
| /operating_model/outputs/2027Q2:upside/metrics/legacy_revenue | None | upside_2027q2_legacy_revenue |
| /operating_model/outputs/2027Q2:upside/metrics/magnet_revenue | None | upside_2027q2_magnet_revenue |
| /operating_model/outputs/2027Q2:upside/metrics/mine_revenue | None | upside_2027q2_mine_revenue |
| /operating_model/outputs/2027Q2:upside/metrics/minority_investment | None | upside_2027q2_minority_investment |
| /operating_model/outputs/2027Q2:upside/metrics/operating_income | None | upside_2027q2_operating_income |
| /operating_model/outputs/2027Q2:upside/metrics/revenue | None | upside_2027q2_revenue |
| /operating_model/outputs/2027Q2:upside/period | None | 2027Q2 |
| /operating_model/outputs/2027Q2:upside/period_end | None | 2027-06-30 |
| /operating_model/outputs/2027Q2:upside/values/acquisition_cash | None | 0.0 |
| /operating_model/outputs/2027Q2:upside/values/capex | None | 190.0 |
| /operating_model/outputs/2027Q2:upside/values/cash_after_investing | None | -254.785825 |
| /operating_model/outputs/2027Q2:upside/values/cfo | None | -64.78582499999999 |
| /operating_model/outputs/2027Q2:upside/values/fcf | None | -254.785825 |
| /operating_model/outputs/2027Q2:upside/values/gross_contribution | None | 19.4155 |
| /operating_model/outputs/2027Q2:upside/values/legacy_revenue | None | 15.0 |
| /operating_model/outputs/2027Q2:upside/values/magnet_revenue | None | 13.200000000000001 |
| /operating_model/outputs/2027Q2:upside/values/mine_revenue | None | 46.93 |
| /operating_model/outputs/2027Q2:upside/values/minority_investment | None | 0.0 |
| /operating_model/outputs/2027Q2:upside/values/operating_income | None | -59.598324999999996 |
| /operating_model/outputs/2027Q2:upside/values/revenue | None | 75.13 |
| /operating_model/outputs/FY2026:base/case | None | base |
| /operating_model/outputs/FY2026:base/frequency | None | year |
| /operating_model/outputs/FY2026:base/metrics/acquisition_cash | None | base_fy2026_acquisition_cash |
| /operating_model/outputs/FY2026:base/metrics/capex | None | base_fy2026_capex |
| /operating_model/outputs/FY2026:base/metrics/cash_after_investing | None | base_fy2026_cash_after_investing |
| /operating_model/outputs/FY2026:base/metrics/cfo | None | base_fy2026_cfo |
| /operating_model/outputs/FY2026:base/metrics/fcf | None | base_fy2026_fcf |
| /operating_model/outputs/FY2026:base/metrics/gross_contribution | None | base_fy2026_gross_contribution |
| /operating_model/outputs/FY2026:base/metrics/legacy_revenue | None | base_fy2026_legacy_revenue |
| /operating_model/outputs/FY2026:base/metrics/magnet_revenue | None | base_fy2026_magnet_revenue |
| /operating_model/outputs/FY2026:base/metrics/mine_revenue | None | base_fy2026_mine_revenue |
| /operating_model/outputs/FY2026:base/metrics/minority_investment | None | base_fy2026_minority_investment |
| /operating_model/outputs/FY2026:base/metrics/operating_income | None | base_fy2026_operating_income |
| /operating_model/outputs/FY2026:base/metrics/revenue | None | base_fy2026_revenue |
| /operating_model/outputs/FY2026:base/period | None | FY2026 |
| /operating_model/outputs/FY2026:base/period_end | None | 2026-12-31 |
| /operating_model/outputs/FY2026:base/values/acquisition_cash | None | 160.0 |
| /operating_model/outputs/FY2026:base/values/capex | None | 338.38800000000003 |
| /operating_model/outputs/FY2026:base/values/cash_after_investing | None | -823.9705 |
| /operating_model/outputs/FY2026:base/values/cfo | None | -293.1825 |
| /operating_model/outputs/FY2026:base/values/fcf | None | -631.5705 |
| /operating_model/outputs/FY2026:base/values/gross_contribution | None | -2.2896666666666663 |
| /operating_model/outputs/FY2026:base/values/legacy_revenue | None | 26.019 |
| /operating_model/outputs/FY2026:base/values/magnet_revenue | None | 1.8 |
| /operating_model/outputs/FY2026:base/values/mine_revenue | None | 20.4 |
| /operating_model/outputs/FY2026:base/values/minority_investment | None | 32.4 |
| /operating_model/outputs/FY2026:base/values/operating_income | None | -306.4516666666667 |
| /operating_model/outputs/FY2026:base/values/revenue | None | 48.219 |
| /operating_model/outputs/FY2026:downside/case | None | downside |
| /operating_model/outputs/FY2026:downside/frequency | None | year |
| /operating_model/outputs/FY2026:downside/metrics/acquisition_cash | None | downside_fy2026_acquisition_cash |
| /operating_model/outputs/FY2026:downside/metrics/capex | None | downside_fy2026_capex |
| /operating_model/outputs/FY2026:downside/metrics/cash_after_investing | None | downside_fy2026_cash_after_investing |
| /operating_model/outputs/FY2026:downside/metrics/cfo | None | downside_fy2026_cfo |
| /operating_model/outputs/FY2026:downside/metrics/fcf | None | downside_fy2026_fcf |
| /operating_model/outputs/FY2026:downside/metrics/gross_contribution | None | downside_fy2026_gross_contribution |
| /operating_model/outputs/FY2026:downside/metrics/legacy_revenue | None | downside_fy2026_legacy_revenue |
| /operating_model/outputs/FY2026:downside/metrics/magnet_revenue | None | downside_fy2026_magnet_revenue |
| /operating_model/outputs/FY2026:downside/metrics/mine_revenue | None | downside_fy2026_mine_revenue |
| /operating_model/outputs/FY2026:downside/metrics/minority_investment | None | downside_fy2026_minority_investment |
| /operating_model/outputs/FY2026:downside/metrics/operating_income | None | downside_fy2026_operating_income |
| /operating_model/outputs/FY2026:downside/metrics/revenue | None | downside_fy2026_revenue |
| /operating_model/outputs/FY2026:downside/period | None | FY2026 |
| /operating_model/outputs/FY2026:downside/period_end | None | 2026-12-31 |
| /operating_model/outputs/FY2026:downside/values/acquisition_cash | None | 170.0 |
| /operating_model/outputs/FY2026:downside/values/capex | None | 368.38800000000003 |
| /operating_model/outputs/FY2026:downside/values/cash_after_investing | None | -866.8388958333333 |
| /operating_model/outputs/FY2026:downside/values/cfo | None | -328.45089583333333 |
| /operating_model/outputs/FY2026:downside/values/fcf | None | -696.8388958333333 |
| /operating_model/outputs/FY2026:downside/values/gross_contribution | None | -16.135083333333334 |
| /operating_model/outputs/FY2026:downside/values/legacy_revenue | None | 24.019 |
| /operating_model/outputs/FY2026:downside/values/magnet_revenue | None | 0.52 |
| /operating_model/outputs/FY2026:downside/values/mine_revenue | None | 7.425 |
| /operating_model/outputs/FY2026:downside/values/minority_investment | None | 0.0 |
| /operating_model/outputs/FY2026:downside/values/operating_income | None | -340.3658958333333 |
| /operating_model/outputs/FY2026:downside/values/revenue | None | 31.964 |
| /operating_model/outputs/FY2026:upside/case | None | upside |
| /operating_model/outputs/FY2026:upside/frequency | None | year |
| /operating_model/outputs/FY2026:upside/metrics/acquisition_cash | None | upside_fy2026_acquisition_cash |
| /operating_model/outputs/FY2026:upside/metrics/capex | None | upside_fy2026_capex |
| /operating_model/outputs/FY2026:upside/metrics/cash_after_investing | None | upside_fy2026_cash_after_investing |
| /operating_model/outputs/FY2026:upside/metrics/cfo | None | upside_fy2026_cfo |
| /operating_model/outputs/FY2026:upside/metrics/fcf | None | upside_fy2026_fcf |
| /operating_model/outputs/FY2026:upside/metrics/gross_contribution | None | upside_fy2026_gross_contribution |
| /operating_model/outputs/FY2026:upside/metrics/legacy_revenue | None | upside_fy2026_legacy_revenue |
| /operating_model/outputs/FY2026:upside/metrics/magnet_revenue | None | upside_fy2026_magnet_revenue |
| /operating_model/outputs/FY2026:upside/metrics/mine_revenue | None | upside_fy2026_mine_revenue |
| /operating_model/outputs/FY2026:upside/metrics/minority_investment | None | upside_fy2026_minority_investment |
| /operating_model/outputs/FY2026:upside/metrics/operating_income | None | upside_fy2026_operating_income |
| /operating_model/outputs/FY2026:upside/metrics/revenue | None | upside_fy2026_revenue |
| /operating_model/outputs/FY2026:upside/period | None | FY2026 |
| /operating_model/outputs/FY2026:upside/period_end | None | 2026-12-31 |
| /operating_model/outputs/FY2026:upside/values/acquisition_cash | None | 150.0 |
| /operating_model/outputs/FY2026:upside/values/capex | None | 358.38800000000003 |
| /operating_model/outputs/FY2026:upside/values/cash_after_investing | None | -815.88935 |
| /operating_model/outputs/FY2026:upside/values/cfo | None | -275.10135 |
| /operating_model/outputs/FY2026:upside/values/fcf | None | -633.4893500000001 |
| /operating_model/outputs/FY2026:upside/values/gross_contribution | None | 11.666533333333332 |
| /operating_model/outputs/FY2026:upside/values/legacy_revenue | None | 27.519 |
| /operating_model/outputs/FY2026:upside/values/magnet_revenue | None | 3.3000000000000003 |
| /operating_model/outputs/FY2026:upside/values/mine_revenue | None | 36.35333333333333 |
| /operating_model/outputs/FY2026:upside/values/minority_investment | None | 32.4 |
| /operating_model/outputs/FY2026:upside/values/operating_income | None | -289.1830166666667 |
| /operating_model/outputs/FY2026:upside/values/revenue | None | 67.17233333333334 |
| /operating_model/outputs/FY2027:base/case | None | base |
| /operating_model/outputs/FY2027:base/frequency | None | year |
| /operating_model/outputs/FY2027:base/metrics/acquisition_cash | None | base_fy2027_acquisition_cash |
| /operating_model/outputs/FY2027:base/metrics/capex | None | base_fy2027_capex |
| /operating_model/outputs/FY2027:base/metrics/cash_after_investing | None | base_fy2027_cash_after_investing |
| /operating_model/outputs/FY2027:base/metrics/cfo | None | base_fy2027_cfo |
| /operating_model/outputs/FY2027:base/metrics/fcf | None | base_fy2027_fcf |
| /operating_model/outputs/FY2027:base/metrics/gross_contribution | None | base_fy2027_gross_contribution |
| /operating_model/outputs/FY2027:base/metrics/legacy_revenue | None | base_fy2027_legacy_revenue |
| /operating_model/outputs/FY2027:base/metrics/magnet_revenue | None | base_fy2027_magnet_revenue |
| /operating_model/outputs/FY2027:base/metrics/mine_revenue | None | base_fy2027_mine_revenue |
| /operating_model/outputs/FY2027:base/metrics/minority_investment | None | base_fy2027_minority_investment |
| /operating_model/outputs/FY2027:base/metrics/operating_income | None | base_fy2027_operating_income |
| /operating_model/outputs/FY2027:base/metrics/revenue | None | base_fy2027_revenue |
| /operating_model/outputs/FY2027:base/period | None | FY2027 |
| /operating_model/outputs/FY2027:base/period_end | None | 2027-12-31 |
| /operating_model/outputs/FY2027:base/values/acquisition_cash | None | 0.0 |
| /operating_model/outputs/FY2027:base/values/capex | None | 720.0 |
| /operating_model/outputs/FY2027:base/values/cash_after_investing | None | -1056.3087500000001 |
| /operating_model/outputs/FY2027:base/values/cfo | None | -336.30875000000003 |
| /operating_model/outputs/FY2027:base/values/fcf | None | -1056.3087500000001 |
| /operating_model/outputs/FY2027:base/values/gross_contribution | None | 27.729999999999993 |
| /operating_model/outputs/FY2027:base/values/legacy_revenue | None | 52.0 |
| /operating_model/outputs/FY2027:base/values/magnet_revenue | None | 36.599999999999994 |
| /operating_model/outputs/FY2027:base/values/mine_revenue | None | 130.5 |
| /operating_model/outputs/FY2027:base/values/minority_investment | None | 0.0 |
| /operating_model/outputs/FY2027:base/values/operating_income | None | -309.12125000000003 |
| /operating_model/outputs/FY2027:base/values/revenue | None | 219.10000000000002 |
| /operating_model/outputs/FY2027:downside/case | None | downside |
| /operating_model/outputs/FY2027:downside/frequency | None | year |
| /operating_model/outputs/FY2027:downside/metrics/acquisition_cash | None | downside_fy2027_acquisition_cash |
| /operating_model/outputs/FY2027:downside/metrics/capex | None | downside_fy2027_capex |
| /operating_model/outputs/FY2027:downside/metrics/cash_after_investing | None | downside_fy2027_cash_after_investing |
| /operating_model/outputs/FY2027:downside/metrics/cfo | None | downside_fy2027_cfo |
| /operating_model/outputs/FY2027:downside/metrics/fcf | None | downside_fy2027_fcf |
| /operating_model/outputs/FY2027:downside/metrics/gross_contribution | None | downside_fy2027_gross_contribution |
| /operating_model/outputs/FY2027:downside/metrics/legacy_revenue | None | downside_fy2027_legacy_revenue |
| /operating_model/outputs/FY2027:downside/metrics/magnet_revenue | None | downside_fy2027_magnet_revenue |
| /operating_model/outputs/FY2027:downside/metrics/mine_revenue | None | downside_fy2027_mine_revenue |
| /operating_model/outputs/FY2027:downside/metrics/minority_investment | None | downside_fy2027_minority_investment |
| /operating_model/outputs/FY2027:downside/metrics/operating_income | None | downside_fy2027_operating_income |
| /operating_model/outputs/FY2027:downside/metrics/revenue | None | downside_fy2027_revenue |
| /operating_model/outputs/FY2027:downside/period | None | FY2027 |
| /operating_model/outputs/FY2027:downside/period_end | None | 2027-12-31 |
| /operating_model/outputs/FY2027:downside/values/acquisition_cash | None | 0.0 |
| /operating_model/outputs/FY2027:downside/values/capex | None | 760.0 |
| /operating_model/outputs/FY2027:downside/values/cash_after_investing | None | -1252.4503875 |
| /operating_model/outputs/FY2027:downside/values/cfo | None | -460.0503875 |
| /operating_model/outputs/FY2027:downside/values/fcf | None | -1220.0503875 |
| /operating_model/outputs/FY2027:downside/values/gross_contribution | None | -45.698750000000004 |
| /operating_model/outputs/FY2027:downside/values/legacy_revenue | None | 31.0 |
| /operating_model/outputs/FY2027:downside/values/magnet_revenue | None | 13.260000000000002 |
| /operating_model/outputs/FY2027:downside/values/mine_revenue | None | 49.55500000000001 |
| /operating_model/outputs/FY2027:downside/values/minority_investment | None | 32.4 |
| /operating_model/outputs/FY2027:downside/values/operating_income | None | -428.8003875 |
| /operating_model/outputs/FY2027:downside/values/revenue | None | 93.815 |
| /operating_model/outputs/FY2027:upside/case | None | upside |
| /operating_model/outputs/FY2027:upside/frequency | None | year |
| /operating_model/outputs/FY2027:upside/metrics/acquisition_cash | None | upside_fy2027_acquisition_cash |
| /operating_model/outputs/FY2027:upside/metrics/capex | None | upside_fy2027_capex |
| /operating_model/outputs/FY2027:upside/metrics/cash_after_investing | None | upside_fy2027_cash_after_investing |
| /operating_model/outputs/FY2027:upside/metrics/cfo | None | upside_fy2027_cfo |
| /operating_model/outputs/FY2027:upside/metrics/fcf | None | upside_fy2027_fcf |
| /operating_model/outputs/FY2027:upside/metrics/gross_contribution | None | upside_fy2027_gross_contribution |
| /operating_model/outputs/FY2027:upside/metrics/legacy_revenue | None | upside_fy2027_legacy_revenue |
| /operating_model/outputs/FY2027:upside/metrics/magnet_revenue | None | upside_fy2027_magnet_revenue |
| /operating_model/outputs/FY2027:upside/metrics/mine_revenue | None | upside_fy2027_mine_revenue |
| /operating_model/outputs/FY2027:upside/metrics/minority_investment | None | upside_fy2027_minority_investment |
| /operating_model/outputs/FY2027:upside/metrics/operating_income | None | upside_fy2027_operating_income |
| /operating_model/outputs/FY2027:upside/metrics/revenue | None | upside_fy2027_revenue |
| /operating_model/outputs/FY2027:upside/period | None | FY2027 |
| /operating_model/outputs/FY2027:upside/period_end | None | 2027-12-31 |
| /operating_model/outputs/FY2027:upside/values/acquisition_cash | None | 0.0 |
| /operating_model/outputs/FY2027:upside/values/capex | None | 810.0 |
| /operating_model/outputs/FY2027:upside/values/cash_after_investing | None | -1072.605725 |
| /operating_model/outputs/FY2027:upside/values/cfo | None | -262.605725 |
| /operating_model/outputs/FY2027:upside/values/fcf | None | -1072.605725 |
| /operating_model/outputs/FY2027:upside/values/gross_contribution | None | 92.54795 |
| /operating_model/outputs/FY2027:upside/values/legacy_revenue | None | 69.0 |
| /operating_model/outputs/FY2027:upside/values/magnet_revenue | None | 70.62 |
| /operating_model/outputs/FY2027:upside/values/mine_revenue | None | 200.07 |
| /operating_model/outputs/FY2027:upside/values/minority_investment | None | 0.0 |
| /operating_model/outputs/FY2027:upside/values/operating_income | None | -237.855725 |
| /operating_model/outputs/FY2027:upside/values/revenue | None | 339.69 |
| /operating_model/reviewed_at | None | 2026-09-19 |
| /operating_model/schema_version | None | operating_model.v1 |
| /operating_model/title | None | Closed Serra Verde acquisition, mine ramp and magnet funding cash |
| /research/change_note | None | Updated for completed Serra Verde acquisition with separate ramp, royalties, cash purchase and conditional funding. |
| /research/checkpoints/0/date_status | None | estimated |
| /research/checkpoints/0/event | None | Post-close reporting |
| /research/checkpoints/0/timing | None | Q3 results; date unconfirmed |
| /research/checkpoints/0/watch | None | Obtain closing cash/debt, purchase allocation and September-only acquired operations. |
| /research/checkpoints/1/date_status | None | estimated |
| /research/checkpoints/1/event | None | Mine and magnet acceptance |
| /research/checkpoints/1/timing | None | Year-end 2026 run-rate target |
| /research/checkpoints/1/watch | None | Compare nameplate/run-rate claims with shipped external product and working capital. |
| /research/checkpoints/2/date_status | None | estimated |
| /research/checkpoints/2/event | None | Conditional investment and funding |
| /research/checkpoints/2/timing | None | Next financing and transaction disclosures |
| /research/checkpoints/2/watch | None | Verify Carester closing, actual government receipts and offtake effectiveness. |
| /research/countercase | None | Mine and magnet capacity can grow faster than accepted sales. Low utilization, acquired debt, royalty minimums, working capital and transaction costs can absorb cash before integration produces economic returns. |
| /research/economics | None | USAR reported H1 revenue of $11.5M, operating loss $83.0M, CFO negative $75.3M and $108.4M cash capex/equipment deposits. June unrestricted cash was $1.530B with another $64.2M restricted. Serra Verde closed September 3 for $300M cash and 126.849M shares; Q3 therefore contains only acquired-period activity. The furnished Serra Verde H1 historical revenue was $0.588M. Target year-end annual TREO run rate is 4,000 tonnes, with a subsequent expansion toward 6,400 tonnes. Capacity is not yet recognized sales. June Serra Verde debt principal was $425M, including a $100M incremental DFC loan extinguished at closing; the remaining $325M reference still carries financing claims. Government commitments of up to $277M funding and $1.3B loans are milestone-dependent. The model shows business cash demand before assuming those facilities are drawn. |
| /research/limitations/0 | None | Serra Verde closed September 3 for $300M cash and 126,849,307 shares. H1 USAR history is not retrospectively replaced with combined pro forma history. Q3 uses a one-month acquired operating approximation; actual closing-date accounting will differ. |
| /research/limitations/1 | None | Year-end 4,000-ton annual TREO run rate and subsequent 6,400-ton annual-average capacity plan are operating targets, not shipment or revenue guidance. Desk utilization, sale timing and blended price are explicit; undisclosed offtake price floors are not invented. |
| /research/limitations/2 | None | Mine revenue is modeled as external sales with no duplicate intercompany sale to LCM or magnets. Accepted magnet tonnage is separate from installed/nameplate capacity; Round Top contributes no mined revenue in the horizon. |
| /research/limitations/3 | None | Serra Verde reported only $0.588M H1 revenue in the furnished pro forma historical column. Production commissioning, inventory, acceptance and offtake commencement can delay recognized sales despite large future capacity targets. |
| /research/limitations/4 | None | Royalty cash includes a 5.25% variable sensitivity and a separate minimum-payment top-up allowance. Actual contractual minimums and amortized-cost accounting may differ. The royalty liability is not deducted from cash in one lump sum. |
| /research/limitations/5 | None | The pro forma June balance sheet is illustrative, not a September cash balance. Acquired June cash of $162.4M is a reference; modeled closing cash uses a haircut and is explicitly unverified until purchase accounting is filed. |
| /research/limitations/6 | None | DFC June principal was $425M, of which the $100M incremental loan extinguished upon warrant exercise at close. Remaining $325M initial principal is a reference, not proof of September debt after any other draws. No automatic receipt of the $565M facility ceiling. |
| /research/limitations/7 | None | The U.S. government arrangement provides up to $277M federal funding and $1.3B loan capacity subject to milestones. Counterparty financing in the offtake arrangement is not USAR cash. No future government or counterparty proceeds are included in modeled burn. |
| /research/limitations/8 | None | Carester minority investment is signed, subject to closing conditions, and is not consolidated sales. A $32.4M cash scenario is included at different future dates; total expected consideration includes shares and FX exposure. |
| /research/limitations/9 | None | Purchase-price allocation, depreciation, transaction-fee settlement, royalty floors and working capital are sensitivities pending post-close financials. No complete parent/subsidiary cash waterfall, restricted-reserve transfer, debt maturity or ownership/EPS model. |
| /research/question | None | Can mine ramp and qualified magnet shipments create an integrated business before cash requirements overwhelm funding flexibility? |
| /research/reviewed_at | None | 2026-09-19 |
| /research/risks/0 | None | Production, product qualification and offtake commencement. |
| /research/risks/1 | None | Rare-earth price and product-mix volatility. |
| /research/risks/2 | None | Acquisition integration and provisional purchase accounting. |
| /research/risks/3 | None | Capital cost, cash restrictions and milestone-conditioned financing. |
| /research/risks/4 | None | Royalty minimums, DFC debt and substantial issued-share dilution. |
| /research/title | None | The closed mine acquisition and the cash needed to scale |
| /sources/0/retrieved | None | 2026-09-19 |
| /sources/0/title | None | H1 actuals, government agreement and cash restrictions |
| /sources/0/url | None | https://www.sec.gov/Archives/edgar/data/1970622/000197062226000057/usar-20260630.htm |
| /sources/1/retrieved | None | 2026-09-19 |
| /sources/1/title | None | September 3 completed Serra Verde acquisition and operating targets |
| /sources/1/url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026097399/ea030400101ex99-1.htm |
| /sources/2/retrieved | None | 2026-09-19 |
| /sources/2/title | None | Furnished combined pro forma accounts and DFC extinguishment |
| /sources/2/url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026097399/ea030400101ex99-3.htm |
| /sources/3/retrieved | None | 2026-09-19 |
| /sources/3/title | None | Serra Verde historical royalty terms |
| /sources/3/url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026055511/ea029029301ex99-3.htm |
| /sources/4/retrieved | None | 2026-09-19 |
| /sources/4/title | None | Signed conditional Carester minority investment |
| /sources/4/url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026080645/ea029900101ex99-1.htm |
| /sources/5/retrieved | None | 2026-09-19 |
| /sources/5/title | None | Offtake counterparty financing and effectiveness conditions |
| /sources/5/url | None | https://www.sec.gov/Archives/edgar/data/1970622/000121390026092810/ea030292401ex99-1.htm |
| /thesis/scenario_ranges | None | Explicit downside/base/upside business assumptions; not price targets, probabilities or historical market-memory bands. |
| /thesis/view | The completed acquisition changes the company from a largely downstream buildout into a broader operating platform. The key test is recognized external sales and cash economics after ramp costs, royalties and funding claims, not nameplate capacity alone. | |
| /thesis/what_changes_it | Track acquired-period revenue, inventory acceptance, closing cash/debt and milestone-qualified financing against the capital bill. |