fox davies quits, page-18

My main concern about the management of JT is the question, Rob, wether or not he had chosen the right strategie to get financed.

A very good strategy, for example, would be, first, to find a serious partner for an off-take agreement which secures the selling for it`s main asset, before going to any bank. The second would be to find a bank, which is secure enough to finance the deal during these days. Thirdly, if he could find a reasonable state/government to secure even this secure bank, that would be the greatest advantage, the top of his strategy, so to say.

This brings me to Lynas. They missed reasonable off-take agreements at the time negotiating with a bank. Therefor, full finance was only offered after having achieved such agreements. They now claim they had done it but still got not financed. Does this indicate that they have chosen the "wrong" bank, perhaps suffering from the financial turmoil?

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