LYC 0.16% $6.29 lynas rare earths limited

You are joking, right? Why do you think people are so strongly...

  1. 176 Posts.
    You are joking, right? Why do you think people are so strongly reminded of this "infamous article"?

    Because the article which was written in 2011 gives us a pretty exact picture of what happened in 2013.

    "The engineers also say that almost all of the steel piping ordered for the plant is made from standard steel, which they describe as not suited for the corrosive, abrasive slurry. Rare earth refineries in other countries make heavy use of costlier stainless steel or steel piping with ceramic or rubber liners."

    If pipes are worn out few weeks after the first heavy use these pipes did not meet the quality standards. This is a serious management mistake in any case. The reason might have been short term cost or time savings. But the issue becomes another dimension if it is dicussed in one of the most quoted newspapers of the planet two years prior.

    Fact is the company messed up and they messed with my money. The article raises obvious questions which is evidence enough to ask these very questions and it is the company - not me - that should IMO explain exactly what happened because these pipes don't match the story of telling investors to invest long term.
 
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