One last comment. I think Lynas deliberately held back some production During the Q. AL talked several times about higher production in December. I think they made the decision to hold back some production so they could start ramping in December This would not show up in q2 sales numbers or tons made but would impact cost. Raising COP. Sales and production in Q3 should get a nice lift from this. This production should be counted as Work In Progress (WIP) which is a plus for P&L and negative for COP( raises it). This would be a nice add to profits Q3. Maybe this is what AL was talking about. Will be easy to tell just compare WIP to total sales for last few SAR & ARs if higher this is at least part of what it was. Sales should be last Q before the report not entire period. Any WIP from Q1 or Q3 should have been shipped or moved to inventory in 3 months.
Ann: Quarterly Activities Report, page-24
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