Thank you Jan for the post.I believe that there is alot of cat...

Thank you Jan for the post.

I believe that there is alot of cat and mouse tactics happening at the moment and the last 2 press reports were probably devised to assist marketing in closing up the deals for Phase 1 more than informing the market generally of LYC's current
position. (LYC have not been great with anns in the past)

The Japanese obviously wants non-Chinese suppliers for security sake and it looks like LYC is going to get the lions share of the Japanese market.

IMO, the revenue forecast of $287 mil was based on LYC's pitch to Japan for Phase 1 and the minimal profit was a signal that this is the lowest we can go
in price.

LYC's position is complicated by the fact that Soljitz is already supplying the Japanese market out of China and that it has a 5K ton/year contract with LYC to distribute LYC's products in Japan. This, however, leaves 4K ton available for
LYC to sell direct to Japanese customers because a press announcement
last Novemenr citing a Japanese Government official said that Japan would source
9K tons from Australia in 2013.

I am looking forward to LYC announcing its revenue and product volumes so all
this Chinese opaque clap tap is clearified and that we can get on with investing
based on clear fundamentals.

China's politicisation of trade wlll, IMO, backfire on it and LYC is very well positioned to benefit.

The LAMP is now pumping out $24 mil/month of product which only needs
finishing to customers' specs. This is serious money higher transitional costs will be offset by the concentrate having being already accounted for in previous
quarters (stockpiles in Aus produced a year ago.)

Cheers
Moorookamick