The current bleating and thrashing around berating NC, Lynas Board, Malaysia in general is only testament to the lack of sophistication of the majority of posters here, and I wouldn't call them investors.
Over the past couple of years post after post here has revelled in the prospects of huge returns with very little regard for risk and now things look a little sour the majority here seem to be trying to pin the blame on everybody except themselves.
Any Lynas SH who didn't factor sovereign or country risk is a fool and that goes right back to when Lynas first announced the LAMP would be offshore. Let's not forget that before the Malaysian invitation Lynas was in negotiations to locate the LAMP in China.
Let's have a look at Wiki: http://en.wikipedia.org/wiki/Country_risk
"Country risk refers to the risk of investing in a country, dependent on changes in the business environment that may adversely affect operating profits or the value of assets in a specific country. For example, financial factors such as currency controls, devaluation or regulatory changes, or stability factors such as mass riots, civil war and other potential events contribute to companies' operational risks. This term is also sometimes referred to as political risk; however, country risk is a more general term that generally refers only to risks affecting all companies operating within a particular country."
Have a look at the table for Country risk ratings which shows the top 10 largest deteriorations in country risk scores Pre Crisis to Sept 11 which shows Malaysia has fallen from 84.5 to 66.6.
On top of this largely political & economical metric Lynas has also had to deal with the fallout from Fukishima and Fuzzies ability to leverage it to instil fear amongst the local population.
Everybody here, myself included, was very happy to share the increased profits flowing from a Malaysian LAMP but it appears very few were prepared to accept the associated risk even though the majority would have invested well after the decision was made.
I believe the decision to invest in Malaysia was a sound one at the time it was taken but events well outside Lynas's control have increased the risk substantially. Get used to it, it happened, and many would have invested or added since.
Has NC/Lynas made mistakes? Of course they have, bucket loads, as should be expected on a project of this complexity. Again risk/reward - think about it. To suggest they are not working their butts off, or that the collective corporate geniuses here could do a better job (after the event), is beyond laughable.
Either get a grip and ride this out or SELL but for goodness sake stop bleating like spoilt two year olds.
As OMG has pointed out, yet again, SMSL et al are having a picnic on the crap posted here and apart from being highly embarrassing your giving the enemy a bucket load of satisfaction and encouragement.
Why?
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