Forget the TOL. It will get issued sooner or later, the TOL is just a distraction from the real issue for Lynas and the real reason for the falling share price.
The real issue for Lynas is REE prices, and they are still falling. The basket price is now down to $54.84, off more than $1.20 in the last week, and showing no sign of stopping. The REE prices are the real reason for the continuing decline in the share price - just plot the REE basket price Vs Lynas share price.
Sure the LAMP is still profitable at these levels, but if REE prices go back to 2010 levels Lynas is not much more than break even, and if prices fall to 2009 levels - huge losses.
And these are the international prices which are much higher than Chinese domestic prices, if China ever exports more REE prices will come under even greater pressure.
LYC Price at posting:
85.2¢ Sentiment: None Disclosure: Not Held
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