The response of Mathew James in relation to the subleasing of Lynas tenements to Forge was pathetic.
If Lynas does not have the capacity at the moment to develop the assets, then that is no justification to literally give them away. The assets can be kept as a valuable resource to be developed later.
To say it is that the transaction is not a sale per se is nit picking, but literally correct because to repeat , the assets are being given away!
If Forge mines the ores and sells to Lynas, it will be at market prices (5000 tons Lynas to market sourced from Forge), another ridiculous thing for Mathew James to put a positive spin on. Forge/Curtis will be the massive beneficiary of the giveaway to Forge. If Lynas is successful in its phase 2 plans of 22,000 tons per year it will easily have the capacity to develop and bring on stream other resources within it tenements at some future date.
No mention of the giveaway to Forge of resources in the so called cooperation area of the tenements.
LYC Price at posting:
$2.06 Sentiment: Hold Disclosure: Held
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