lynas under 50c, page-128

you are correct. at current LYC is experiencing the most dark times of nearly two years.

the SP has fall below level of a year low but
still not touch the two low (A$ 0.375 on 4/5/2010).

If you would like to see a three-year trend, you should see the LYCs SP still be on a long-term upwarding trend ---
The bottom and the head all are gradually raise .

2009: 52 Week Low: A$ 0.10 High: A$ 0.93
2010: 52 Week Low: A$ 0.375 High: A$ 2.07
2011: 52 Week Low: A$ 1.675 High: A$ 2.70

as you said "I think, the potential for an decent uptrend again is very very limited." If you bet a prerequisite condition for a long-term delay of LAMP, or rejected, I full agree with you;

Conversely, if LAMP has approved on the schedule to obtain the production licenses, I am willing to bet you: next year LYCs SP must be much higher than SP on yesterday(A$ o.875).