### @MP — Confirmed — from the earnings call and quarterly filing
You know, starting in the fourth quarter of 2025 a new revenue category showed up on our statements – Price Protection Agreement income, $42.3 million in Q1 2026. It flows from the Department of War’s ten‑year NdPr price floor and is booked as a mark‑to‑market derivative, so it records a gain when the market NdPr price falls below that floor for the NdPr we produce at Mountain Pass. In plain terms it’s a cash‑flow backstop that pays most when prices are weak, not an operating sale of product, and by its own design it’s tied to periods when prices sit below the floor.
- tier: Confirmed (✓)
- source: MP / A new line: price-protection income
- receipt: https://ticker.thevixguy.com/p/p-day-20260807-mp-src-mp-price-protection-income-rotation
- posted: 2026-08-07T06:00:51.885Z