hq gee up, page-50

3 very important points you make ausheds:

"those that don't understand the distinction should be steering well wide of such a high risk/reward startup like Lynas"

"In denial"

"Better odds than the pokies I guess, still the naivety of those talking dividends suggests they may perhaps be better off at the slots"

In response:

We understand the distinction very well having been sold an Australian pig in a Malaysian poke - and if you recall after 12/13 yrs activity the last non-CR drive by their house broker was in 2010 when LAMP was promised to fire up. Since then every opportunity to put a positive angle on operations has been actively neglected - that's management's corner, not retail investors in case you didn't know.

Even the most diehard 'but this is a new frontier business - things take time' investors seem to forget that we're also invested across different sectors where parallel approaches to 'lift-off' (sorry rorkes!) have actually occurred, be it in tech, pharma or manufacting. I can state for your info that had most of these success stories adopted a similar method of management to their affairs as Lynas has they would not be staring success in the face (which they are) now. Conversely Lynas management prefer to attract farce, which has been demonstrated as effectively as the Keystone Cops in a car chase - whatever you say, I personally measure effective management by results, not excuses.

And finally I maintain, in 2010 as the possibility of LAMP was sold to retail investors the angle of maiden divi was spouted loud as a major selling point when basket prices were at an all time high. Had management been savvy enough to negotiate the minefield in front of them, which is after all what good managers usually deliver on, they might have justified their incredibly lavish recompense by now - which they haven't. In all the investments I've had over the last 30 years ineffectual management is held accountable and if necessary replaced. I proffered some time ago the suggestion that Martin Sorrell and Brian Cox should be brought onboard as non-exec/consultants. Why? Go figure.

Your suggestion that Lynas might provide 'better odds than the pokies' is laughable and reflective of the apologist retail investor base which keeps the board living in a style to which they should never have become accustomed. A fabulously intoxicated nodding dog pokie drip into their pockets which they continue to scalp - so the odds for them are cause to laugh all the way to the bank really, aren't they?

Yes, indeedy they are...