Ann: Response to ASX Aware Query, page-19

I agree MP stock has dropped much more than Lynas has. Before you talk about take overs you should investigate a little more about what is involved. do some research. Even if the bought MP for 15 $us a share it would still put 1,4 B of Good will on MP's books I am sure you understand why stock holders do not like to see lots of good will on the balance sheet. It would also mean coming up with 3B in cash which would mean lots of debt. Lynas will probably make about 50 M in profit this year and MP is expected to make close to zero. at 7% interest rate 3B X 0.07 is 210 M so they would go in the red by 160M a year. That would severely depress the SP. I could go on talking about book vales cash reserves and other things they all look bad but the # 1 obstacle is US rules. A merger of these two would lock up most of the non Chinese REE for many years so the US Gov would not even consider it because of S fair trade rules.