Directors Report (page 8) - Financial Position
Property, plant and equipment $-211,200.00 difference between 2014 (669.1mil) and 2013 (880.3mil)
Main reason stated: impairment Lamp Phase 1
from the dictionary: impair -> weaken something: to lessen quality, strength, or effectiveness of something
Guess who was the CEO during Phase 1 construction and ramp-up? Maybe it was all a bit too much for him and he decided to concentrate more on self-promotion than construction oversight.
No doubt the new CEO went down the write-down road (FireFly's comment is right on) because any improvement (however small) will be in her favor.
My opinion (I am holding stock but have written it off):
1) I cannot see any substantial improvement in REE pricing
2) because of 1) I fail to see how Lynas can pay back the debt(s) on time
3) if no Takeover in 2nd half of 2015 Administration will be unavoidable
Re Administration: I don't think AL has taken on this job to oversee liquidation - it is more likely that she will try to fix as much as possible and whip LYC into shape as a precursor for a sale (take your pick: NFC Rare-Earth, Baotou Steel Rare-Earth, China Minmetals Rare Earth, Chalco Rare Earth, Guangdong Rising Nonferrous metal and Ganzhou Rare Earth Group,.....)
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Last
$6.80 |
Change
-0.100(1.45%) |
Mkt cap ! $6.356B |
Open | High | Low | Value | Volume |
$6.78 | $6.80 | $6.69 | $13.60M | 2.014M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 13933 | $6.78 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.80 | 1389 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 5667 | 6.780 |
2 | 6500 | 6.750 |
1 | 3000 | 6.730 |
2 | 3200 | 6.720 |
2 | 4480 | 6.700 |
Price($) | Vol. | No. |
---|---|---|
6.800 | 200 | 1 |
6.820 | 383 | 1 |
6.880 | 5000 | 1 |
6.890 | 1550 | 1 |
6.900 | 23748 | 7 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
LYC (ASX) Chart |
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STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
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