how cheap is lynas? you decide.

Lynas is one of the cheapest valuations in the rare earth space with the shortest timeline, richest mine and most contracts. Below is the Price/Book of each developed project timeline on Yahoo Finance. The numbers are more extreme than you might think at first. Several projects seeking funding (including Moly) have done several evaluations effecting book values since rare earths prices have risen so much. Lynas has not spent money in this direction since they are fully funded.

This is by no means intended to be complete research. It really is just a quick snapshot to show how cheap Lynas is right now. The factors chosen are just a few top factors often considered with junior miners. Please DYOR and realize this was meant to be very general and not even a stock ranking except to show how cheap Lynas is at this time in the rare earth space.
I have never seen this extreme a valuation in a junior space.
Timelines from TMR Technical Metals Research
http://www.techmetalsresearch.com/metrics-indices/tmr-advanced-rare-earth-projects-index/

Price to Book from Yohoo finance Key Statistics
http://finance.yahoo.com/q?s=LYC.AX&ql=0

Lynas Corporation Ltd. (ASX:LYC, PK:LYSCF)
Timeline
First production (published company estimate): 2011
TREO: 8.1%
Price to Book Value: 5.91
Contracts
7 Supply Contracts
2 Letters of Intent
Funding: Fully Funded

Molycorp Inc. (NYSE:MCP)
Timeline
TREO: 6.57%
First production (published company estimate): 2012-2013
Price to Book Value: 7.30
Contracts
3year contract WR Grace
MOU with Sumitomo Corp
Letter of Intent with Hitachi Metals
Funding: Funded with contingencies

Greenland Minerals and Energy Ltd. (ASX:GGG, PK:GDLNF)
Timeline
First production (published company estimate): 2016
TREO: 1.05%
Price to Book Value: 3.69
Contracts: None
Funding: Funding Needed

Rare Element Resources Ltd
Timeline
First production (published company estimate): 2015
TREO: 3.45%
Price to Book Value: 5.34
Contracts: None
Funding: Funding Needed
Contracts: None
Funding: Funding Needed

Alkane Resources Ltd
Timeline
First production (published company estimate): 2012-2013
TREO: 0.89%
Price to Book Value: 11.68
Contracts: None
Funding: Funding Needed

Great Western Minerals Group Ltd
Timeline
First production from Steenkampskraal: H1 2013
TREO: 11.65%
Price to Book Value: 4.7
Contracts: None
Funding: Funding Needed

Quest Rare Minerals Ltd. (TSX.V:QRM, PK:QSURD)
Timeline
First production (published company estimate): 2016
TREO: 0.91%
Price to Book Value: 5.2
Contracts: None
Funding: Funding Needed

Frontier Rare Earths Ltd. (TSX:FRO, PK:FREFF)
Timeline
First production (published company estimate): 2014
TREO: 2.16%
Price to Book Value: N/A
Contracts: None
Funding: Funding Needed

Arafura Resources Ltd. (ASX:ARU, PK:ARAFF)
Timeline
First production (published company estimate): 2013
TREO: 2.83%
Price to Book Value: 2.06
Contracts: None
Funding: Funding Needed

Avalon Rare Metals Inc. (TSX:AVL, AMEX:AVL)
Timeline
First production (published company estimate): 2015-2016
TREO: 1.36%
Price to Book Value: 7.6
Contracts: None
Funding: Funding Needed

The following are Projects with drills but no timeline:
Matamec Explorations Inc. (TSX.V:MAT, PK:MTCEF)
TREO: 0.24%
Price to Book Value: 3
Contracts: None
Funding: Funding Needed

Stans Energy Corp. (TSX.V:RUU, PK:STZYF)
TREO: 0.26%
Price to Book Value: 33.70
Contracts: None
Funding: Funding Needed

Hudson Resources Inc. (TSX.V:HUD, OTCQX:HUDRF)
TREO: 1.51%
Price to Book Value: 2.83
Contracts: None
Funding: Funding Needed

Tasman Metals Ltd. (TSX.V:TSM, PK:TASXF, F:T61)
TREO: 0.54%
Price to Book Value: 15.88
Contracts: None
Funding: Funding Needed