The real problem is not the LAMP or the price of REOs. Its that there are no customers left for LYC. The Chinese got'em all.
What corp. in their right mind is going to be the first in line to sign up with a a company losing north of $100mm annually and risk ticking off the Chinese when integrity of supply is the most important issue?
Even MCP is in better shape with their downstream demand through Neo Materials.
How does that problem get solved?
And the current customers? Cerium oxide at $7, and concentrate? Where is the only concentrate market? In China of course, and the price is below Cerium oxide. Just to complete the loop, LYC production cost materially north of $10.
Its an extremely difficult situation.
and still it goes on..., page-32
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