bullish on malaysia's mining future, page-9

Repairs will take months.

This was confirmed by LYC General Manager according to the doctorwho2 post in "announcement we are waiting for - plant fixed" thread.

So much for the idea of the plant being completed and only awaiting the TOL. How meaningful is argument of completion if the plant doesn’t operate? Define completion any way you want, the bottom line is the plant is not producing. Nor will it be capable of doing so for months according to the Lynas statement goofy quoted and confirmed by the Lynas GM doctorwho2 referenced.

Running this plant for a few days caused a breakdown requiring months to fix. It may be reasonable to expect more "teething" problems after repairs, especially if additional equipment is found to be as substandard as the piping in question.

Lynas is in a very difficult situation. Possibly one already played out between NC and Mt Kellet. And, possibly a situation shorters have been knowledgeable about for some time. Nothing should surprise us in the world of finance. The history of the characters involved here should be noted.

Designed to enhance the personal balance sheet of NC, Lynas has been nothing short of spectacular; as far as producing a saleable product, nothing short of a spectacular failure. The numbers speak for themselves.

One way or another, costs will be significant to current shareholders in spite of EN comments to the contrary, IMO. Repair by the end of the year? Let’s hope they are “on time and on budget”, as always.