Ann: Appointment of Independent Power Provider, page-6

Although the costings are not known on this long term energy costs and co2 reduction it could also be seen to be the GE long term binding agreement is not far from completion.

Reducing OPEX is paramount to profits - Lynas quart has selling PrNd at 50aud kg with pundits estimating costs to be 30aud kg well below our advised 42aud kg which considering ARU are to mine - process - refine all on site opposed to Lynas high logistics costs seems quiet high. Changes and implementing such key initiatives very important obviously over 40 years of production.

Oh to be where Lynas is - expanding - sitting on large cash - sitting on large reo stockpile until pricing improves (very nice to see their management not over supplying into the current low price market - even using their position to leverage the reo pricing higher) In tough market conditions Lynas still manage a nett 80 aud million thereabouts quarter. We will get there eventually. Meantime we are the mercy of critical announcements on highly favorable terms being delivered asap to stop the rout of past 4-5 months - being felt by most in the renewables sector - many whom will not progress to anything. A continued rise in PrNd would be welcome for positive sentiment.

Interesting on that note - article stated there are over 160 companies in China developing E mobility - EV'S - E transport and the like with only 20-30 predicted to survive in what will be a massive Chinese industry domestic and international. Teething problems for many globally as all jostle for position of success in the new renewables market space.