"It has a market cap of $600m odd, that probably means the best...

"It has a market cap of $600m odd, that probably means the best re mine in the world comes for free."

Best things in life are always free. :))

But seriously: your math, Orwell, seems to be a litle off center. If you consider the debt situation, there isn't much left. The market is playing the "heavy dilution if"-game. We will get an idea of how expensive the existing flaws are, we can't rule out that this current delay causes other flaws too and knowing all this there is absolutely no way Lynas could move at the the limits of solvency.

So the question is: what are the conditions of the next CR and what will they tell us about it tomorrow. Worst case IMO would be if they remained silent on that issue.