lynas valuation, page-6

Wolves,

Think these are based on $US (don't have my calc spreadsheet here, but will check at next opportunity)

Orwell,

Good point.

So, allowing for extra 10% share vol for conv bonds and assuming values for calculation are in $US, SP (in $AUD @ 1.07:1) at various BP (in $US) is as follows (based on all other assumptions remaining the same from original post):

Phase 1

BP EPS(cents) SP
50 14.1 1.55
55 16.3 1.79
60 18.5 2.03
65 20.7 2.27
70 22.9 2.51
75 25.1 2.75
80 27.2 2.99
85 29.4 3.23

phase 2

BP EPS(cents) SP
50 28.2 3.10
55 32.6 3.58
60 37.0 4.06
65 41.4 4.54
70 45.8 5.02
75 50.1 5.50
80 54.5 5.98
85 58.9 6.46

So not as high as the original post, but it still indicates substantial performance at any of these basket prices once we reach production.

Cheers,

Freighter