flyer69, etcYes, I have followed the Mt Weld story for quite a...

flyer69, etc

Yes, I have followed the Mt Weld story for quite a time (> 40 years - since Wesfarmers were involved for the REE's associated fertilizer potential). Lynas came onto the scene relatively recently. I seem to remember 'Twiggy' giving it a shake too.

I have also followed the modus operandi of "loan shark investors" that look around for a struggling Company with sound assets - their assessment being that the Company will require cash urgently, & a foothold can be gotten at a bargain price. If they then have shares in the Company, they can, if the Company needs more of their cash, to a degree at least, push down the conversion price by dumping & replacing cheaper. Original stakeholders get rapidly diluted. Examples abound.

I trust management won't get the Company into this position. But my point remains, that Management has had a long time to get the project financing in place, & we see them mucking around with "loan sharks" in the final week.

And why is the projected cash position precarious? Because they've belatedly decided that a mine-site beneficiation plant is necessary? And mined a full year's feed ore rather than a lesser, but sufficient amount, in advance? Wasted costly time mucking about with the Processing site?
The decision to carry out additional REE processing 'in-house'?

My point about philosophy / delays / costs in switching the Process Plant site from China to Malaysia (x2) seems valid to me. I did not invest in LYC (@ 60c) until they dropped all plans to deal with China - can't trust those Chinese! -as subsequently bourne out.

I still have 1/2 of my original 60c shares (having sold the other half @ $1.32). I have just bought @ 28c; so I guess I see things working out OK by the end of the month; & perhaps I shouldn't be regarded as a "negative". I'm banking on Management getting the financing, etc (whatever that might be), 'over the line', even if it requires a "loan shark" facility (I trust never needed) to be in place.

Though I didn't buy too many - Management won't be making an announcement before 27th Jan - that's cutting things pretty fine in my books.

Col8