There's a bit of noise around that's criticising Lynas's actions about the writedown of the LAMP's C&L assets and the appeals timing. First the writedown. Writing off assets is a good thing to do if you can. Stuff you built and paid for that's sitting on the balance sheet can be devalued on the balance sheet generating a paper loss and lessening taxes. So the C&L assets at the LAMP (the big kilns and stuff) that probably won't be used after July are a perfect opportunity. The appeals. Simple fact is, you can't appeal a decision until it's been made. Yes, the Malaysians had stated an INTENTION to limit the LAMP's activities. But until the decision is actually made it's simply stupid to expect Lynas management to appeal it.
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