Ann: Update on Kalgoorlie Acid Supply Arrangements, page-12

Remember Demand is down for NdPrO much more than nickel. high of 40464 7 March 2022 to day 16870 - 59% NdPrO 1055 11 march 2022 to 361 to day. -65%.

Lack of or higher prices for Acid may give AL an excuse to temporarily shut down KAL I am sure it will be much more expensive to run and depreciation will be much higher than MAL If you go back a few years KAL is already fully depreciated. KAL is about 800M over 20 years =40 M a year just for depreciation which can be put off if plant not operating. Labor and energy will also be much higher.. This may be a great excuse to close KAL and keep stock holders from appreciating what a disaster it will be. Any one that disagrees I would love to see your numbers for Deprecation, Labor, and Supplies I will gladly admit I am wrong if these disprove what I say.

If any one does not think "ACCELERATED DEPRECIATION ON CRACKING AND LEACHING ASSETS" is true Lynas explains it fully on page 8 of 2021 Q2 report. https://wcsecure.weblink.com.au/pdf/LYC/02195169.pdf
What is interesting that at this time they had very high confidence in KAL. High enough they took actions that lowered profits. They also knew of license restrictions in MAL on C&L at this time, yet did not try to change them for almost 2 years. Yet another case of clueless project management.