lifton, page-19

Hi all,

I am a newbie on this forum. I know Lynas for some time and only bought this stock recently. My assessments from reading Lynas QR and the conference call transcript are

Negatives:
- Disappointing production for the quarter
- Poor PR & media release
- Cash burning & other legal issues

Positives:
- Good fundamentals (mines, LAMP etc)
- Producing some qualified products
- REE price picking up
- At more advanced production state than other competitors outside China

But it seemed those analysts asking questions during the conference call only focused on financial/sale numbers but not on what have been sold and what have not.

Based on the data and info in conference call and QR I think out of 144 tonnes produced 117 tons (~80%) were sold for 1 million (received 0.6 million, 0.4m outstanding). It works out the price $8-9/kg.

I reckon the products have been sold are LaCe oxides/carbonates. The price ($8-9/kg) and percentage (80%) seem match with market price and Lynas basket percentage. Hence the remaining 20% unsold are actually higher value NdPr and heavy REE residues. Those higher value products require more careful qualification by customers so take longer time to make sale. If this is true then it is a good thing at this point since they can sell all their LREE. NdPr and heavy REE residues will only give them more revenue (if accepted by customers).

This is my own assessment and not advice for sell or buy this stock.

Happy day to all holders and non holders.