re: news - my take on what was said, page-10

re: news - my take on what was said It all seems pretty clear to me. Lynas is in ramp up mode so cannot predict with accuracy when it will reach name plate production. And once it is in production it sells on contracts which, given how many months/years ago were written, must have a variable price based on current prices (spot). And probably they have a price discount to incentivise the early signing. If Nick is uncertain on volume and price, then of course he is by definition uncertain on cashflow. He's not being tricky. He's being realistic. And no doubt the traumatic Malayisan approval process makes him very nervous about promising anything. So everyone will just have to patiently wait for the plant to ramp to nameplate capacity, and for the market to absorb the new capacity. With a bit of luck current prices are low in anticipation of the new supply, and won't fall further from here.