Interesting news of Wesfarmers selling Coles and coal, (maybe I should remove coal from my user name), and taking over rare earths processor Lynas for $1.5b. Imagine where Krucible would be today if the company only had the simple foresight to continue their lead position with rare earths.
Another example of what I regard as the limitation of the people who took over Krucible in Nov 2014.
Krucible was the only other viable REE project in the country and only the third in the world outside of China.
I was at the meeting when LP stated that he knew nothing about rare earths, and was appalled when just a few weeks later he closed all the REE projects down, bizzarely announcing to the market that the company had no rare earth projects. He had rare earths specialists on staff but sacked them.
CML Price at posting:
1.7¢ Sentiment: Sell Disclosure: Not Held
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