the fundamentals don't make sense, page-10

Fair comment 1up - however your info can be interpreted in a rather different light (BTW Lynas has mined plenty (2year + stockpiled) - just not processed any). First, the market cap comparison would seem to be not favourable for Lynas, but we have to remember three factors - first, the market is growing strongly and unless there are some amazing developments in alternatives to the REEs, will continue to do so for considerable time. Second, the Mt Weld, NTU and Malawi resources will continue to supply plenty of raw REE material for processing and concentrating. Finally, the cost per kg of processed and value-added final product - is more than likely to at least hold if not increase for the next few years. Basically IMO the market cap of REEs will definitely increase over the next few years. Lynas's first mover advantage is the real "kicker" in all this!

Your second point regarding the costs and potential difficulties and hence the vital importance of the Malaysian LAMP - is another fair point. As a chemist familiar with some of these issues, I agree with part of your argument. BUT the positives for Lynas far outweigh your misgivings in spades IMO. First, the LAMP is costing somewhere between $US500-600 million and all up will have taken about 30 months to put it all together. Any other company starting today will need a similar timeframe and about $1 billion dollars to build it. Not too many will get to this stage!

Second, and most important, the LAMP is based on existing well known (yet complex) technology and Lynas has the support of Rhodia's well respected international expertise through a number of Technical Support Agreements as well as having appointed one of the key Rhodia people to its senior technical team. In short - we do know it will work! More than likely Lynas may well be "rushed" by the Junior end of the market - to process their ore to final completion.

I know my girlfiend told me to keep off the site while on vacation - but the moves today are potentially game changing for many of us! Happy New Year to all.