Whether this is going to be an industry leader, or a plodder, the fact is, the company is inching closer to that critical step change, where it goes from a cash flow bleeder, to a cash flow generator. Most signs point to a rebound of some degree in rare earths prices, and the Malaysians will come to appreciate the presence of such a large employer providing locals with not just work, but also key industrial skills.
It's worth more than 32c. Failing something disastrous (and unlikely) happening, this stock is highly likely to pay up for anybody jumping on board now. I feel for the buggers who bought in when the project was in its infancy, and especially those who bought in at the height of the rare earths price spike, but it's hard to imagine the pay continuing, given all the heavy lifting is now done.
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