Just back from Argus Metals conference San Diego, the total & utter ignorance of Lynas' progress & position, among all US participants & UK hosts, was staggering to say the least.
Several speakers referenced Lynas as:
"operating at capacity" (a static business)
"OpEx multiple of 'China' " (they don't even appear to understand it is a broad industry)
"$Bn debt impacting ST & LT profitability" (seemingly unaware SH's have taken massive dilution to stabilise debt, NONE had any concept of last debt renegotiation)
"limping along on its deathbed, barely surviving on 'subsidies' "
"China will bankrupt all other 'ongoing' non-Chinese producers as evidenced by Moly"
Was staggered by the complete ignorance of both industry development and Lynas business within it, made my thoughts known in the Q&A, to the point the UK Chair pulled me aside to ask if I really thought Lynas could survive!
Was an interesting exercise to confirm my thoughts on the dated & mangled concepts of the industry in the US, & UK "professionals", but doubt I'd ever waste my money on another broad RE conference there, definitely bad for blood pressure.
Western mkts have a very backward, distorted understanding of the RE industry, and Lynas role in it, needs to change before the SP will travel far.
LYC Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)