Hi MP,
Thanks for the acknowledgment. I think that its healthy to challenge and to be challenged.When investing I do my best, in time available, to make a decision on where to invest my money. I'm aware that once I make a decision, I have a tendency to want to rationalise it, defend it, seek confirmation that it was right. Your question on my question caused me to review my position from another perspective ... and there are so many perspectives. So thanks for that.
I've started to look downstream into each offtaker, to understand what growth story they're telling their investors and whether it aligns with each of the miners stories. It's intersting.
Yes, LYC has a great lead on the others. Will that lead be forever? I do wish for more transparency of the business case around the "LYNAS 2025" Plan. I've listened to the recent LYC calls, and though the football analogies are fun, I'm always left with a feeling that an opportunity had been missed to really explain why Lynas is great and is going to be even greater. I understand that some are averse to providing "guidance" but it would be healthy if they dusted of the original business case, gave it a refresh with current projects and numbers, explain when, where and how much of each product type is expected and include some sensitivity analysis around the effects of various prices on the bottom line. I've also looked without success for the business case around the pursuit of those elusive processing plants in the US. Also some discussion on D - D - D - D ... Dividends would be nice.
So in that regards I feel like management has become a bit complacent in selling the investment opportunity in Lynas.
I crave strategy and numbers, I don't want to have to wade through copious amounts of regurgitated analyst demand forecast, or pretty pictures depicting smiling happy diversified faces, or photos of processing rusty plants and deep pits. .... just want a simple presentation that links the strategy, with the projects, with the products, with the numbers.
Why do I feel more comfortable about the future of one of my developing miner's after reading their DFS as compared to how I feel after reading one of Lynas's AGM presentations or Annual Reports. Yes the present is great. Actual revenue beats no revenue.
Being the only major alternative to China won't be forever though. 2025 is not too far away. Wonder what the plan beyond that is?
Thank you. Looking forward to even more discussion.
Expand
(20min delay)