lo price boating..., page-8

These are all fair points. So I haven't bought anything since $0.45 but started buying again today.

Why? Because recent facts on the ground remain pretty solid, including:

- Pattersons' reconfirmation of their price target yesterday pm. Plus their modelling is quite conservative.
- The fact that other key LYC broker models do not use ridiculous REE price expectations, and that the current FOB prices are still comfortably above any of the LYC broker projections.
- The positive mood music in a number of blogs over the past few days (eg Asian Sentinel), incl the ex-Malaysian PM yesterday telling the ruling party to man up, stop being scared of the opposition and approve LAMP as it isn't dangerous.
- Lynas' confirmation of no material issues in yesterday's market update.
- Bernama shifting its media coverage from neutral to slightly pro-LAMP in recent weeks (could be preparing the ground for an approval JMHO).

I can understand the fear. We are all living through it. But the catalyst of the fear (REE FOB projection downgrades) so far does not affect my valuation fundamentals.

LYC has come a long way and has considerably de-risked since $0.45. Sure, elevated systemic risk remains (Greece, Operation Twist, IMF outlook restatement etc), but I don't think any of these can derail global demand enough to erase the REE shortfall over the next 2 years. At these prices IMO reward trumps risk.

I've kept my powder dry and am starting to accumulate. Will average down over the next 2 months as needs be, as I have a $3.50 18-month price target on LYC.

Good luck to all holders.
Jaydog