LYC 0.00% $6.40 lynas rare earths limited

Asian Metal RE prices up again, page-63

  1. 7,451 Posts.
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    Been thinking about all the work Gus put into his finding where I said in 2013 they was a good chance of Lynas and MCP going BK. I do not have his time to spend checking years of posts but maybe toly will remember this. In 2013 Lynas had Cash on hand that could cover a good portion of debt and the sale of assets would allow their creditors to recover much of the owed debt. Then the severe cash drain occurred with starting LAMPs. It only took a little more than year for cash to go so low that BK would net little for the creditors. At this time I was quite vocal that BK was no longer an option. Lynas went through several deals under NC and AL. Each one was shorter term and had a clear way for creditors to take over. The last deal changed this pattern. I do not find flipping opinion as bad. In fact being one of the first to flip often makes good money. I again point out no one disputed me once about the tremendous REE price rise that would have been needed to cover debt. No one once showed a way out of the whole other than to say prices will go up. Amanda is good. They will find a new source of financing. She was very good but show me any post that suggested anything close to what she did. I find it very interesting the people with the strongest criticism never offered any concrete ideas in the last year of how this would resolve. If I am wrong give me post on any board.

    I am continually reevaluating my position. It was my lack of faith how NC was handling next Q" I never heard I have assembled a team to sort this out. I never heard what went bad the previous Q. So I flipped and went from having a substantial investment in Lynas to zero in about a week. I will assure everybody here that if you go back 3 years it is unlikely I will have the same opinion as today. I am proud of this. In fact 2 months ago I thought I would never again invest in Lynas but hung on just in case. Currently I have about 40% of the amount I received selling invested. I have goals for Lynas and REE that will take me to 100% if they are met. I am surprised no one is complaining about that flip.
 
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