Ann: Shareholder Letter - Growth Plans, RE Market and Regulatory, page-16

There will be many hearings and lots of press. As I have said for over a year this will come out OK. Ok does not mean perfict it will cause lynas some $ and inconvience but nothing really bad. People have to feel that were at least listened to . If peopl think they wee totally ignored they will continue to cause problems. So expect more hearings. Crazy things in the press. People grandstanding. In the end it will be OK. It is like a court case how often are they resolved just minutes before trial is ready to start, I live in Ma in USA jurry duty is manadatory. 5 times I have been on the final jury. Twice I recieved a call the morning of the trial saying case resolved. 3 times we were minutes away from trial start. Went into a holding periode then told case resolved. I have never heard a case. The evidence is mounting that Lynas is dong fine. but i doubt it will be resolved till right before the dead line. For me the big question is what if any restrictions. What period will it be resolved for. I hope not just a TOl for a year. A tempory OL will be both boaring and stress full as the same issues are gone over, over and over again.