the facts of life

Hi there!

Having read this weekends posts was quite a laugh, I must admit.

Highlights:

LYC being a "HREE"-giant comparable to BHP/RIO just growing faster, so fast that the LAMP miraculously advanced to a 80 % completion stage from 40% within a few days..

Someone said, he felt like in fantasy land and I do think he was right. So it might just be appropriate to get a little DOWN TO EARTH now.

FACT 1: LYNAS HAS NOT EARNED A SINGLE PENNEY
Valued at almost 3.5 billion dollars, the company has until now accumulated debt and dilution with over 1.7 billion shares out. Due to long delays in production there is no incoming streams in sight unless Lynas starts selling ore directly from Mount Weld.

FACT 2: LYNAS LAMP NEEDS AN OPERATION LICENSE
In order to start earning money and fulfill their offtake agreements, the company needs an operating license. Lynas does not even have a pre-operational license in Malaysia. The government just stated, that there will be no pre-operating-license before LYC meets 11 recommendations which would take up to 2 years to achieve (ministry of science and tech.)

FACT 3: LYNAS FACES SERIOUS POLITICAL PRESSURE AND OPPOSITION
Many thousands of protesters have opposed against the LAMP plant in Kuantan. Until today Lynas ignores the real reason for this opposition and still tries to reduce the safety-issue to radiation and the IAEA-report.
The actual reason is the AUSTRALIAN LICENSE for the LAMP that was granted before LYC decided to build the plant in Malaysia. This license included many highly expensive safety-measures. Just on example: the australian authorities requested a 30 km "buffer-zone". No people where suppose to live there.

FACT 4: NUMBER OF PEOPLE LIVING WITHIN 30 KM OF THE LAMP: 700.000!!!
It is no wonder, that Malaysian people feel being treated as lab rats.

INTERPRETATION
The invitation of 200 people from Kauntan shows, that Lynas still doesn't understand the problem and acts accordingly. The announcement to install special equipments to monitor radiation shows the ignorance towards the various existing problems with many toxic substances outside of radiation.

BTW: with no license and no income in sight, Lynas has IMVHO become one of the most overvalued explorers ever.

regards
Julia