The TOL will issue when Najib is confident it can be done politically. He set up the PSC to defuse and delay the controversies to calm everyone down. He was concerned about the prospect of large scale public insurrection and consequent political explosions.
I think the TOL will be issued next week, after the Parliamentary debate. I suspect that he always intended this. To the extent that they have been sending out mixed signals about when it would issue, rather than saying point blank "NO TOL until after the PSC" , it has been helpful for the share price. If it had been the other way around, the shorters would have run merry hell with it over the last 2 months (making what we endured seem a picnic).
I think also that the LAMP is basically finished (they have probably left one bolt to tighten nest week) and Lynas is deliberately not putting further pressure on the situation.
Just my musings.
Stay positive.
email to lynas, page-14
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