Personally I'm happy with Kal's progress: "The Kalgoorlie Rare Earths Processing Facility is a key part of the Lynas 2025 growth plan that was first announced in May 2019. The AUS$800 million large-scale Facility was delivered in less than two and a half years from the receipt of full construction approvals." https://www.globalminingreview.com/handling-processing/12112024/lynas-opens-first-rare-earths-processing-facility-in-australia/ Putting startup costs on the balance sheet is standard and relatively minor; about $20m to load up the processing lines and reagent tanks according to the AR. All major plants are depreciated over time; at least Lynas took the big hit at the LAMP by depreciating its C&L to $0 on the books when the license was temporarily cancelled. Finally the guidance (last Q'ly) is that Kal and LAMP will have very similar cost profiles. I guess they learned a trick or 2 operating the LAMP for 12 years! Thus (for example) one superkiln rather than 4 'small' ones.
LYC Price at posting:
$7.48 Sentiment: Hold Disclosure: Held
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