as i see it, page-43

Exactly cafa, you are "Not sure", neither am I, financial engineering way over my head and I'm not even going to waste anyone's time trying to second guess it.

But the stark difference is I can conceptualise the possibilities whereas you're stuck in your own little black space with the rest of the flock. The carrion call really carries a taint of the great Australian cringe about it.

Point is even at today's cap, let alone NPV, Lynas does not carry a lot of debt. They would need to build a convincing case as to positive cash flow sooner than later but their is plenty of scope to renegotiate the whole debt profile and move the Sojitz amount out 3/5 years. May need to throw Mt Kellett a bone but the end result would be a positive for all equity, and potential take the pressure off working capital.