a cautionary tale, page-8

Caution should be directed at all non-Lynas REE companies who are years behind Lynas, re production timing methinks.

Lynas has 2 big advantages being first into production.
They will get the best sell prices (obviously) and secondly will get to depreciate they plant and equipment for several years before the others "come on stream".

Lynas will consequently have a huge cost advantage just at the time when REE prices will probably start to decline as many new players come on stream. The new players will most likely face declining prices and high setup costs to depreciate away at the same time.

Not a good place to be ...

Lynas is the smart business to be in.