New schedule/delayed production
According to todays PR, Lynas "estimates" and "believes" the commissioning being completed by the end of 2011 with P1 production by the start of the second half of 2012.
Personally I believe, production will not take place before Q1 2013. Time will tell.
Fact is: meeting the requirements costs money and time = more money.
Therefore additional funding is more than likely.
Now let's take a look at the past: generous offers to banks and large investment firms making short term profits with further dilution and a declining sp.
Another vital issue: the details of the delivery obligations / offtake agreements.
The failure to deliver in time might as well be very costly. I wonder if Lynas is going to disclose details on that issue.
regards
Julia
additional funding likely
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