Appeal, page-2

You should review the entire history of Lynas position on the Lamp C&L and KAL. In Q1 and Q2 of 2020 Lynas was so confident that KAL would be done in time they set up a schedule to fully depreciate Lamp C&L by end of this June. See page 8 of 2020 Q2 report. Sorry, no matter what I did last line would not copy, here is link, https://wcsecure.weblink.com.au/pdf/LYC/02195169.pdf

"ACCELERATED DEPRECIATION ON CRACKING AND LEACHING ASSETS
In August 2019, the renewal of the Lynas Malaysia operating licence included a condition to relocate our Cracking and Leaching operations from Malaysia to Western Australia within 4 years. Consequently, we have adjusted the expected useful lives of the assets related to this activity within Lynas Malaysia in line with this condition and they will be depreciated at an accelerated rate. The resulting additional depreciation charged in the half-year ended 31 December 2019 is expected to be approximately MYR16.8m (A$5.9m) while the
additional depreciation......"

Now they are not happy with just an extension to cover Construction slips they want restrictions removed. JMO but KAL is turning out to be very expensive to run at low volumes. Texas was suppose to be done last year and Lamp was supposed to be needing a lot more material for increased production by now.

The time to start this appeal was August of 2019 not now! They did not and that says they were very confident in completion date and operating cost for KAL. i bring up Operating costs because why else would they change from shutting down Lamp C&L to wanting to use it. KAL is suppose to have capacity to support an extended Lamp, Texas, Separation and purification in AU, and expansion for many more years. Now Lamp C&L is needed can you offer a reason for this? JMO we do not know the 'Rest of the story'