Except Phase one and two were being built at the same time.
Phase 2 was just not turned on...
It is an accounting write down.
So in effect they wasted 190 million of the money used to build it as its replacement cost is 190 million less.
If it was so state of the art it wouldn't have taken three years to get up to half capacity....
Seems they built a Chinese designed lemon....
Probably should not have gotten the main competitors to design it....lol
Now their chickens are coming home to roost.
Lynas read between the lines - It will save you money in the long run....
Ann: Annual Report to shareholders, page-29
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