VML General Comments - Chat, page-8335

The original management was all ex-Lynas with a vision, a plan, a very cautiously ambitious one at that.
They had excellent relationships with Canadians, especially with the aboriginal communities.

When in need of money, the CEO made the mistake of getting money from a newbie investor company, for whom this was their first investment, and to this date the only one. (I think)

Their condition- For our 20%, we would like 2 directors on the board. Within weeks, they took one of the original directors to form majority and expelled the CEO. The board was rewamped with people not from the RE industry.
My thoughts at that time was this will be a Hollywood movie production one day. If the resource and the science is so ground breaking, could it be Canadians, Americans or perhaps the Chinese wanting to get in cheap, gobble the whole company for 20%.

I haven’t seen any interview from any of those new investors/ board, till recently (not impressed)
They played a very slow game, destroyed the potential manufacturing capability, severed ties with aboriginal owners. Chinese investors (the saviour) 2 years later was the inevitable part of the long drawn plan.

Wouldn’t it make for a blockbuster Hollywood production.

This is my rudimentary understanding, and my personal opinion.

In my naive opinion- The best case scenario (not going to happen) - Canadian government intervention, nullification of last 3 years of mishaps, get the guidance of original board (some still around in the rare earth sector), and Re-start.