Let me Qualify a few things before I say them. I still own Puts on MP. They are underwater. Luckily I sold most when MP was much lower. still hurts but overall, I am doing fine. Executives constantly put pressures on people to do better. This does motivate them but also causes information to be filtered and sometimes distorted as it moves up the Chain. Seldom do I believe casual statements by executives about schedule. This does includes MP as well. I am going to tell you about MP plans. They will come true but highly unlikely on the schedule they currently claim.
MP claims their new Oxide plant will be operating in test mode in Q4 2022 and be producing samples for customers, no product. That it will ramp to full production next year and be at full name plate by Q3 2023. They say all shipments to China, of concentrate will stop in second half of 2023.
Their Joint venture with GM to build a metals and magnet plant in Texas has started. In Q2 Report pictures of the site included All footing and pads done and the early start of some vertical components. They claim they will be making metals end of 2023 and magnets 9 months after that.
When all this will actually happen, I do not know. What I do know is MP sometime in the near future will become a serious free world competitor for Lynas. They will not be the joke they were a few years ago. I do think having GM as a partner VS USG will see them complete their Texas plans before Lynas does theirs. Even though Lynas has a 3 year head start and was originally, by the 2019 plan, supposed to be operational about now. See page 28 https://wcsecure.weblink.com.au/pdf/LYC/02107222.pdf
LYC Price at posting:
$9.03 Sentiment: Sell Disclosure: Not Held
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