call conference answers

I just got off the conference call. Unfortunately, I didn't get to ask all my questions as it ended before my second turn cam up.

However, I asked about potential GFC2 impacts.

Basically, Nick doesn't know what would happen to demand exactly although he said that in the recent GFC 2008/2009 RE prices were low largely due to people using stockpiles. I assume China's export quotas were much higher as well. Most importantly, he said that he doesn't see any countries having much stockpiles these days and interest in supplies from Lynas is constant with strong demand well into next year.

I also got clarification that a weak Australian dollar would increase the reported earning in Australian dollars (due to the RE Basket price being in US$). This is great news as it means that in case of a double dip we should be well protected by the lower AUD.

Nick also mentioned the Malawi deposit which is looking good. He said that Lynas is not planning to just throw supply at the market, but to basically grow with the market. In any case, the Malawi deposit output would be in addition to the planned 22,000 tonnes. He mention that they don't wanna talk about maximum output like "40,000 tonnes" per year, though I wonder if it is really that good a deposit.

I really would love to have asked about the safety plan submissions and estimated timelines in Malaysia, as well as whether contracts signed guarantee a certain amount of RE material being purchased.

Cheers