Great post I missed the drop in cut off. What this means is that in spite of AL talking about drilling which lead me to believe they really had more REE it was just a specification change. To make this change I am sure they can now recover this lower level. The question is not if but at what cost?
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The most important thing to remember is that resources in the ground have no value at all. They can be valuable but that is determined by the sell price minus all the expense to dig it up and process it. As Eddie B said they have lowered the cut off grade. This raises expenses. What new technology is Lynas implementing to lower the cost per KT to balance this? Having large amounts of oar nearby is important. It justifies large amounts of CAP X spending. The best measure of how a company is doing is it's TMM EPS. That has fallen by over 80% in 2 years, After 2024 AR is released, and that is not good. Until Lynas can make a good profit selling what is in that dirt, what is it worth?
Ann: 2024 Mineral Resource and Reserve Update, page-19
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