Yes I agree that some politicians used the drama around the LYC plant to hitch a ride into the political life and even experts who agreed the LYC plant was safe were ignored for myopic views that only would benefit themselves and furthering their political careers.
One absurd point was for Australia to take back its waste, this was never going to happen because could you imagine if countries took back their end of life waste? Malaysia would be dumped with old car and trucks tyres for the rubber they exported and countless Panasonic products........ you get the point. Not to mention that locally owned mines produce more radioactive waste than the small amount LYC produces as a waste. But Lynas made it through the multiple court actions and protests and debt burden and LYC can thank Japan for that, and small shareholders that held through thick and thin.
One more point, I was planning on buying a new car a few months ago and decided to buy a throw away car, a car that has 7 years warranty and drive it maintenance free for the period and then give it away or sell it for a few grand. So I looked at the MG and Haval and thought for about 25k I have a car for 7 years which works out to about $3500 a year which is nothing really and if I sell it out of warranty then that cost comes down again. But when China started banning our barley and wine i though no thanks, why should I spend my money on their imports. So I got my old Lancer re registered and will be keeping that for another year or two. I actually prefer motorbikes and rarely drive my car anyway.
My point exactly about the Chinese influence in Malaysia. I am not an EV buff at all, I just see where the world is going and knew back then that the future was going to be electric. I don’t even plan to buy an EV as I much prefer the purr of a V8 and the beauty of some classic cars.(great investment also) Cars are a tool for me to get where I am going and not an ego thing like some people. A couple of friends have bought Tesla’s but my habits require the ICE as I like to go bush sometimes and as stated above I prefer motorbikes and there is no way an electric bike would feel the same as my VFR800FI.
This whole climate change story is full of holes but we can do things better and without going into the whole debate and argument I will agree things will change and that’s the way it is. There aren’t too many critical thinkers around and the public narrative is a foregone conclusion and there is money to be made so there is no turning back.
I find it funny that being self sustainable still requires access to the electricity grid, for water also and being the cynic I am and having worked for a multi national company for almost 20 years I see the marketing that is being used. (Wait next for the tax per KLM driven once people take up EV on mass, a discussion being hidden now) An example would be that Coles and Woolies made plastic bags a business profit from a cost base, quite amazing considering since that time every piece of meat and almost all the vegetables come wrapped in hard plastic. So is it really for the environment that they now charge for plastic bags? I still see 15 cent bags being blown around the streets. It’s all marketing for some companies and a way to increase profits. It’s becoming almost a crime to criticise the chosen climate change deities all the while China continue to pollute the earth in an astonishingly rapid pace. But buying a plastic bag will fix it here?
Here is an example of the elite telling us commons how we should live, I once lost all my investment in a mine in the Philippines after a typhoon but was under constant attack by Greenpeace for a few years prior. I actually spoke to some Greenpeace activists in a mall in Manila that were protesting the very mine I had invested in, quite a shock for them to see me come forward and say I invest in the mine. (I was just shopping in the mall and seen them) I asked them what right they had, or millionaire Greenpeace senior staff living in their million dollar houses in Europe had telling poor people living in the jungles of the Phillipines that they cannot exploit their land for its wealth to improve their lives.
In the end the typhoon wiped the mine out and they couldn’t finance its repair so it went under. Ironically there was no mention that the typhoon was due to climate change lol.
When it comes to market value on companies I like to describe the market as a looney bin full of loonies. There are obvious to you and I companies that are worth way more and some crazily over overvalued. I can’t explain it and if someone could it would probably be by Haigism talk, words that sound good but mean nothing as a whole. You can only follow cliques spoken by some billionaires, apparent after the fact they became billionaires. Sentiment is a big part of a share price I believe.
Good luck with your investing as we will both need it and I don’t usually agree with what companies say or do, (I didn’t invest in Credit Corp in the COVID crash as I don’t want to profit from exploiting the poor) and as stated above why I won’t buy a Chinese made car and prefer to spend and invest with companies I like. I will buy a Toyota now as Japan are backing Australia and backed LYC and to be honest they still make the best cars, just like the best motorcycles.
Another absurd point is I read a half yearly report last week from some potential investment and their second or third point was their gender and diversity quota, (it was highlighted more than important business facts and figures) Like I don’t care who makes the profit and I would much prefer they report improvements in the living wage of their staff and quality of work and life balance. My corporate, executive career was cut short due to questions like this being asked. Companies are so woke now but ask McDonalds or KFC about equality and why they pay kids such a pittance for the same job an adult does and the equality question is forgotten. (My company once gave out a quarter of a donut to staff when they made record profits, They couldn’t afford a whole donut for each staff member, no joke at all). They also from what an executive HR person told me, had to report to the government their gender recruitment each year, yet while they promoted and filled a role with a female who had no experience, they wouldn’t promote a Koori lad who had long term on the job knowledge because he was a male and when I asked for him to be given a chance the reply was, we can’t promote someone just for being Aboriginal. I in the same meeting referred to the female, sitting in the meeting with other executives questioned why she was promoted on her gender alone. (Before anyone accuses me of misogyny the second best boss I ever had was a woman who is now the CEO of a company in Australia and the best boss I had is also the CEO of an Australian company). Social engineering at its best and just like the stock market the best are not always valued as they should be.(the woman was given an executive role for punting 1100 staff through outsourcing, quite a badge of honour)
My apologies as i digressed at the end but thought I would add some insight into my experiences and career and the absurdities of the business world which can be compared to investing. I met with an ex premier two weeks ago and we discussed investing and I said I am now retired in my late forties and he was trying to encourage me to not waste my talent and do something. I said I am, I invest and can do and say what I want without having to listen to morons and never done anything’s preach social justice causes, so no I am not a climate change end of the world type of person, quite the contrary.
Expand
(20min delay)