First why can't you let things go? Why the AUS dig right in the middle of your commentary. In spite of all your protest of being innocent of wanting battles? ARE you trying to start up a war again? He said nothing to you. If it looks, sounds and smells like manure it is probably manure.
I doubt AL would jeopardize her position by sharing inside information.
It costs lots of money to prove resources that are in the ground to where they can be announced as fact. 13 years of proven reserves is more than sufficient for Lynas to plan out their mine strategy for next 5 to 8 years. They did lots of exploratory drilling before 2010 to determine the approximate size and grade of the entire Mt weld complex. This info shows up in every map they published! Is it proven NO! Is it there YES. Why do you want Lynas to spend cash to prove resources, when they will not need data for at least 5 years? Is the answer to make you and a few other stock holders feel good about making plans to hold stock into the late 2020s?
Here is a March ’17 presentation look at page 14 it shows the size of Lynas’s 5 KM X 5KM lease. It also shows all the deposit that are within that lease from pre 2010 exploratory drillings. Are they proven? No they are not. But you can rest assured that with some tolerance what they say is there is there. Past history says there is more than what is claimed at this time. That applies to most miners and exploration companies including oil.
For me no company is guaranteed to be in business for more than a few years. Look at GE. Who 20 , 10, 5, 2 years ago could have seen the problems they are in today, Even been kicked off of DOW, they were on DOW on DAY one of DOW.
The Japanese do not need leaked info to know Lynas can supply product. Info is out there and public. My guess is they want money spent on production expansion not proving resources for 2030 and beyond.
For me I want to see Lynas improve Quantity and Quality of production output. Not obtaining a bunch of unneeded info about proven reserves so some uniformed stock holders can multiply resources times street prices and say the company is worth 10S or 100S of billions of $ which is totally ridiculous. The company is worth what it can sell those resources for after covering all expenses. Old fashion earnings.
LYC Price at posting:
$2.33 Sentiment: None Disclosure: Held
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