Non Exec these days but can echo that from my own business in Melbourne importing +A$25m medical consumables from Wales, Nth Ireland & France where costs have gone thru the roof, air freighting anything urgent gone out the window, and reliability a thing of the past.
Distributing all states + NZ has become equally difficult & expensive.
This is an issue AL spent some time on last QR and the way I heard it was the greatest threat to the business, to the point AL expressed reservations they would be able to maintain 75%.
The fact we got no advice last Q suggests they did maintain the 75% run rate, managed logistics, and plant maintenance with reduced staffing, if so huge effort by all concerned over past 6 months or so.
One issue that has swung quickly to the positive is the CV situation in Malaysia with rapid improvement from 7 day average new cases near 22k daily 30th August now 8.7k av, yesterday down to 6.7k. Dr Looi tells us CV has not been such a threat Kuantan but the fact that Malaysian appears to have dealt with the Delta wave very efficiently from late August may allow Lynas to start lifting staffing level at LAMP before much longer.
Just being able to pick up regular maintenance schedules again on such a complex plant would be a huge plus, hopefully they are making some sense out of logistics, which as per previous comments just don't appear to be getting any easier.
LYC Price at posting:
$6.54 Sentiment: Hold Disclosure: Held
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