Good we have a 6 months reprieve and it will be BAU at LAMP until 2024.
Bad in that the minister has "otherwise dismissed Lynas appeal". So he hasn't changed his mind and cracking and leeching will close and we will lose that investment and extra production uplift.
On balance this is a much better outcome then where we were the past few months. Now there can be no doubt Kalgoorlie will be up and running in full before the licence condition kicks in January 2024.
But still show's the hostile minster / Malaysian government Lynas is currently dealing with.
Seems now Lynas are going to take the matter to the Malaysian courts to overrule the ministers decision. Does anyone have experience with the Malaysian justice system? To me seems like a mute point. The government sets the laws, the courts then inforce them. I can't see them over riding the minister.
Ever the optimist if nothing else 6 more months to find a better solution. Who knows maybe a cabinet reshuffle? Different minster different decision... ?
LYC Price at posting:
$6.58 Sentiment: Buy Disclosure: Held
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