Good point - accounting firms can be pretty conservative and need to cover themselves.
The risk this going concern comment is supposed to cover is if the operating licence is cancelled because LYC does not export the residue by the deadline set. Lynas has publicly stated it is not possible to export by the deadline.
This is a game of chicken and I think should be ignored - it's hard to see government cancelling lynas' licence if they are actually unable to export the residue on time. If lynas has to shutdown Malaysian operations (no funds), who will export the residue then? At the minimum I expect a later deadline is granted once Lynas offers a plan for exporting WLP (which is not ideal - but doesn't mean the end). It doesn't seem that the government actually intends to shut down Lynas, so I don't think cancelling the licence makes sense unless Lynas demonstrates it refuses to comply with their conditions.
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Good point - accounting firms can be pretty conservative and...
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