Ann: Change in substantial holding, page-8

Understand your sentiment guys, there are many long term investors here, like yourselves, who are still hurting with this stock. I understand your pain. Their are a few self interested parties around here who have no understanding of what you have been thru. While Lynas has arisen from the dead, it still carries the burden of the Malaysian decision. After staying the distance for so many years, it’s a big ask to keep hoping for this stocks return to 2011 heights. Probably never will. Now might be as good a time as any to walk away. I personally will wait for the drill hole results but then I may call it a day. Hoping that Malaysian Government will ever give Lynas the freedom to sell Condisoil and realize it’s full potential is a forlorn hope in my view. I am to old to hang around, waiting for the benefit of the Kalgoorlie plant to come on line. Who knows how many other competitors will come on line by then anyway.