Deciphering Lynas, page-716

First if you are talking 12KT of NDPR that is what Lynas is hoping for sometime in the future. Texas was supposed to be complete in late 2022 Now construction is suppose to start 2024. Unless you just want to do Pie in the shy numbers that may happen in 2026 or latter, I would reduce your volume numbers by quite a bit. Lynas has only made NEXT rates in Q4 they came close in Q3. Good investors invest in what is likely to happen in next 1 or 2 years. Look when lamps were done and how long it took Lynas to reach name plate reliably. Next was done in 2019 and look when they first reached its capacity. Based on history I think it is too early to say they have reached it reliably. Based on past performance I will only use the forecasted numbers when I see the production in a Q report. Revenue has been going down for many Qs. Q1 and Q2 will be down substantially from Q4 and Q3. That is why I say it is time to sell and maybe buy back latter when news is better. You can verify my data in this chart by going through old Q reports. Yes, there have been problems, there always is. Good management knows this and adjust their forecast to leave room for these problems. Lynas seems to publish max numbers, then cry about how unfair it is that they have problems.