LYC 2.06% $7.94 lynas rare earths limited

14.1 milions received ..., page-27

  1. 499 Posts.
    Praseo,
    You are wrong on all accounts.

    The Contract with UGL was a Design and Construct form of Contract , so the Contractor is respnsible for Design deficiences as well as any Construction issues.
    The Owner will sign off his acceptance but the contractoris nt revieved of his obligations untill the end of the defects maintenance Period - Usually 12Mths.

    Lynas can make statements to confirm that the Plant is desgned built to International Stds etc etc, but this is only to their knowledge .They have to rely on others ,they dont have the expertise in these areas that Contractors do.

    We need to look to the remedy getting done, not blame at this point,Lynas will do that when the full extent of the costs are known, and then apportion them appropriately.It may wind up in court, who knows.?
 
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