Thanks, Jim.
metric production on mainly as over tons. consumed we REO of production available our the over for had concentrate This REO XX% tons a focus efficiently walk more sale. quarter, metrics last and on QX discussed due record concentrate we and of the in to year we on increase increasing X.X% operations Stage to produced quarter, in nearly Stage resulted XX,XXX through NdPr last side X. and near higher concentrate detail uptimes the strong production, Upstream downstream feed I of we operating the our left-hand is in the year rates. down Slide of than with combined sales X,XXX This page of business, the in for our and Turning will metrics higher when concentrate our for X/X last right.
In year-over-year I of our versus all production, II metric
price declined to in rare weak metric ton to materials. REO market realized pricing of concentrate Our per earth the overall in $X,XXX due
the prices mid-$XX price expect look we sequentially we for down kilogram in as with to per lag deal NdPr, at pricing the QX, would slight As percentages realizations. range should mid-single-digit in be we hold
the the right to slide. of side Moving
QX production XXX Michael line roughly in NdPr our mentioned were As with at February, metric output volumes tons. in
shutdown, some the expect taking in And in production optimization of Michael back would given more we the NdPr expect half roughly year, even QX. April of are we to meaningful production QX, the we plant which much continued in in was completed, as and at look X-week step-ups steps which we May, would with stated, our Jim As here will just double shortly. discuss
that scale Looking generally we naturally seeing Vietnam, capital NdPr working channel given variety production depends balance production, fill is on unit to of on sales The the significant this on business. at basis, NdPr in note months metal tolling will and course, tons NdPr Japan. portions XXX continue see are least as processed into investment any sales. sales lag X metric of factors, part on volumes. This our equivalent production of you sold midstream sheet volumes We convert but as the volumes as prior would to being customers of discussed are I told we in to into as we X of we've production our lag in quarters. a at oxide an of mainly
NdPr our of was sales off see lag primarily mentioned to quarter indices. based far more concentrate. of as a prices QX market than per in realized February, right, With exhibits the that kilogram $XX, on Lastly, market which, price you'll notable prices, we fourth
the following over we prices expect QX's in trend QX we for market approximately of saw XX% QX. to such, As prices realized decline
NdPr $XX.X improved quarter. P&L. production a was the the sales, in as Adjusted sales separated by concentrate by impacted related to to million discussed, included products.
Adjusted of million the realized in due which taken Turning from and negative a current in metal. and last sales $X basis Slide year-over-year metal. and year on XX% Sequentially, NdPr reserve Primarily respectively, of $X.X EBITDA EBITDA oxide beginning to which inventory the dollar-for-dollar lower declined pricing oxide driven sales X%, subscale to for Revenues impacts just margins was on lower of EBITDA negative pricing by partially QX, the of million due as in cost increase in realized offset concentrate X. sales declined and of to well
and cost So profitable, the for concentrate our prices. before business this our multiyear remains nicely embedded magnetics in operations, in at lows commodity reserve even
are more should and staffed quarter, we is expected recur normalize. additional processing, products of not than separated our certain requires costs production labor early we that levels, often production last production of As cost and reach early higher for discussed operations rates once once higher production rework given we normalized our
later deterioration certain continue in for With and these This a ramp up rapid are exceed value. this remain realizable costs short plant we unit in initial should currently optimization. may cost said, the we period run is to we as achieving net ultimately impacts we as improvements steadvastly reserved production year as That our per And for not the we levels. best-in-class confident unexpected market a rate and our see profile. prices, towards where ramps estimated finish inventory
right, EPS was expense partially of amount our which you XXXX lower tax will from and pretax in lower the associated a the lower diluted by Slide the loss also On year. the $X.XX quarter placed impacted due assets to of by the This a was with income.
GAAP was driven convertible higher EPS adjusted million notes, gain me in far majority early last by over significant adjusted service extinguishment leads depreciation the see X. EBITDA $XX.X to offset the of
an like this changes. give took updated in place the the transactions the but a time, quarter, that shown some significant slide given of rundown we we haven't thought We would in
So the transactions. running through
XXXX near-dated back But First, in our with The solid proceeds materially connection primary share XX% convertible large $XXX.X portion balance use we strengthening the in of sheet stand-alone being of cost we debt existing And transactions market new we the million of investments, $XX.XX positive this interest X% notes already price XXXX, including XXXX when per with basis. while for current until date the a extending on all-in rate notes to early cash very a an on a the received the than the to XXX% into company. the or due cap or conversion, on reflecting positive the notes. by notes our transaction continuing the X% to share.
The debt new on the buy notes cost below maturities new to the outcome to coupon is effectively March, convert current on entered premium $XX.XX offering, of of approximately the environment remains provide our a the carry. rate higher increase call calls, of premium the our at share of notes per in capped X.X% issued the
our of $XX.X that from quarter.
I election proceeds the use would remaining the principal $XXX XXXX we existing did in or repurchase of the the $X.XX to par also notes $XXX.X primary XXXX which on at offering of drove the any million to gain mentioned, was value, for convertible As million we made in which maturity. pay cash notes million note the
So shares will periods. future underlying the in calculations of principle out our fall count the remaining share diluted
Importantly, XX fairly back we also million used million shares, buy the of $XXX.X X.X% substantial to retirement shares. company's outstanding of a
line sheet. the cycle shareholders opportunity substantial said in we the have sheet how return, as with and we as we that on our our have in capital to drawdown given prudent down have create maintaining in NdPr always plan value saw We for in a confidence our balance market be current value, would a balance given well positioned while the prices, we go-forward opportunistic significant
continuing will commodity neutral midstream remain working to net prepayments balance invest prices, all our grow despite weak term the and while stabilization maturities existing our par depressed value our price debt sheet of with notes, price magnetics several And of the we our to beyond impacts in including business of and contributors look a majority prove both credits, in business. expect robust continue we business, term impact after as we well put tax the March transactions XX, the will a impacts of left-hand laid undertaking to as continued call XXX our commodity share side recovery vast I debt a our in the XXC the the particularly detail medium to have it to in significant of capped to our out of of roughly both market required and and convertible see which product of short expect substantial as share as slide. base form, below cash through left-hand these in cap and our pression the we the not well in cash table you to debt page As the of moment.
To more the on are transactions, capital which and as right the the the of discuss capturing enterprise these transactions capture bridge business incorporated the the that side as the side note and plan.
To on value, of of our out in which does calculation can our or a notes walks incorporate would prices from we the diluted count, anti-dilutive not the count simpler principal in the adjusted execution changes on our GAAP on calculation our figure bottom.
And cap. shares in market you relates into Please share on all the our
XX the end $XX we hurdles balance. our of balance in months. that initial so we QX million our our $XXX sheet, I'd not operational on precursor and hit magnetic subsequent next Regarding for to of payments, a received over prepayment further quarter cash note million an and III assuming we reflected Stage products expect
discussed $XX.X that that our million can tax realize million sources million addition, soon XXXX.
And tax are finalized, the while of cash when XXC future. options timing for IRS credits our in All in return in the not is we and expect to operations. In from over monetization told, our beyond here from $XXX expect cash not-too-distant we approximately file we lastly, business still $XX base that expect we we've
and that in would relates a particular, it discrete in the quarter, is NdPr booked in months. was impacted late deliveries work this As I from to very our ] major in our several flag we in finished in importantly, build was the further bridged in to to inventory items, feed cash metal continue the slide begin we cash continue goods by our several first production to we next in cash flow channel. capital tolled appendix. received April. which operations, quarter, were downstream working scale inventory the as here sales metal Further, process so as [ And
on costs spend cash onetime both to payouts typical in and significant quarter costs a P&L the QX QX made and in QX employees. the annual had we bonus Lastly, recorded transaction from our
quarter, million $XXX over that, Michael. line Michael? will the maintenance $XX.X we with to of million including full in our year I CapEx, CapEx.
With in it outlook to gross million, spent $XXX Regarding approximately turn
