Why would a company waste precious funds freighting a corrosive material from WA to Malaysia for final processing? Yes could happen for a couple of years while a new LAMP Mk II is constructed in WA but that will mean the end of the party for Dr M and his bunch of economic vandals he calls a coalition government.
A number of posters have been calling for this action now for a period of time, and I am sorry I did not read the Malaysian intentions correctly.
No responsible director would knowingly allow their shareholders wealth to be subjected to this form of government, corporate and industrial sabotage.
I am sorry for the current LAMP employees most of whom will find other employment due to the excellent training they have received while working at Lynas.
I will not feel sorry for the economic vandals and their masses of supporters who have continued and succeeded with their attempts to destroy Lynas shareholders funds. They should also remember the 1% contribution Lynas makes annually towards the Malaysian GDP.
Malaysia, through those post cabinet utterances from Dr M on Friday have effectively closed the door on further international investment in their country.
I just hope the Japanese are fully informed of the current Malaysian government directives and making appropriate plans to protect their only reliable source of materials for their high tech industries.
The agenda has been set. Now just a question of getting timelines on the action sheet.
Sooner the better as far as I am concerned.
LYC Price at posting:
$2.11 Sentiment: Buy Disclosure: Held
(20min delay)