Just got my email reply, same same, did sort of give a date...

Just got my email reply, same same, did sort of give a date (late March early April)for the independent report..


I wrote...
Dear sir/Madam


Has come to many LYC shareholders attentions that you are attempting to sell one of our core assets to Forge resources at a bargain price. It appears Nic Curtis being a major shareholder of both companies and also involved in managment of both companies is selling himself this asset at "mates rates". I refer the graphic below issued in Lynas's june 2007 presentation, re: the value of Crown Deposit.

As you would observe it states that this deposit has a value of 50 billion dollars (OUR NEXT BIG PROJECT) at 2007 metal prices, maybe as much as $500 billion at todays metal prices?? and now to be sold for 20 million dollars without any calls for other bidders or independant valuations!!! I and other holders are unimpressed to say the least!!



I look forward to your reply explaining how LYC calculated the value of crown at $20 mil plus some conditions when in 2007 this presentation states clearly it is worth one hell of a lot more, would appreciate some input from Nic Curtis himself as he presented this report in 2007 and is now proposing this sale "to himself".

(included graphic from 2007 presentation)


Sincerely 'name' (LYC share holder)
----------------------------------------

and the reply......

Dear Sir

Thank you for your recent email.


We would urge you to wait for details of the Explanatory Memorandum and the Independent Expert?s Report (which will be sent to all shareholders in late March or early April) before deciding on issues like valuations, and how you will vote on the shareholder resolution concerning the Forge transaction.



At the EGM in mid-May, a resolution will be put to shareholders asking shareholders whether they approve and authorise completion of the proposed transaction with Forge. The company will abide by the decision of the majority of votes cast on that resolution by the shareholders.


Best regards


Gloria Rodgers

Executive Assistant