Araf, your obviously having some fun with declining REO prices...

Araf, your obviously having some fun with declining REO prices since bailing out of Lynas but don't lose sight of the fact that the market is generally six months in front of actual events, i.e. what you see as developing news has already been priced in. Take a look at JPM's forward earnings estimates.

However you do run the risk of looking very stupid with the high probability of a favourable decision next Tuesday and the market starting to price in production six months hence - even at circa $40kg basket.

Irony in your statement is that the LAMP in Malaysia, with low cost inputs & tax concession, will be profitable with a basket well under $40kg. Despite the stupid delays I'd be far more concerned if it were in Australia or elsewhere.