Come on troops - it's not that hard. This is still a world class mine and a world class processing plant that is just coming online. They stuffed up the build and ramp up but you are buying into a billion dollar plus replacement cost for a few hundred million. Cash is sorted in the short term and Nomura won't back out because it's a Japanese driven connection to ensure rare earth supplies instead of being dependent on China (they aren't the best of friends).
If you hold or are a customer of Pattos you get a discount but the rest have to pay to play and people are starting to pay.
The only reason it's down here is cause they stuffed the cash flow and then announced it to the world in a quarterly a while back. Now it's safe to go back in the water - yeah may be ups and downs for a week or 2 but it should be 20-30c pretty quickly after that. It's an even money bet right now that Pattos are over hedged and can't fill clients.
What happens from there is up to rare earth prices and cash flow.
LYC Price at posting:
15.0¢ Sentiment: LT Buy Disclosure: Held
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