how to boost shareholder confidence in lynas, page-14

Hi Wazza222,
I am a simple self employed person who trades a little and manages a SMSF. I hold Lynas shares both within and outside the SMSF and have bought and sold these shares since December 2009.I have been greatly disappointed in the performance of management and the Board especially in early to mid 2011.
Before everyone shouts me down and tells me to sell my shares if I don't like the management I would like to point out a number of indisputable facts to you ALL.

1. The Mt Weld concentration plant was supposed to commence operations by the last week of March 2011. It was delayed by rain and other factors and actually first feed did not occur until the 14/5/2011.

2. First feed of Mt Weld concentrate to the LAMP in Malaysia was supposed to occur in the 3rd Quarter of 2011. Then it was supposed to be before Christmas 2011 remember the $4.00 party anyone.

3. Due to community concerns that were exaggerated by SMSL the Malaysian Minister of Trade invited an independent panel of International experts to conduct a one month review of the health, safety and environmental aspects of the LAMP.

4. On the 27/04/2011 We were told that the LAMP would be operational within six months. The IAEA visited Malaysia and inspected the plant between 29.05.2011-06.06.2011 and held public hearings before reporting back to the Malaysian Government at the end of June.

5. On the 01.07.11 the IAEA reported that the LAMP was fully complaint with international standards.

6. An article in the New York Times on the 30.06.11 made unsubstantiated claims of shortcuts being taken during construction of the LAMP and possible shoddy workmanship compromising the health and safety of the locals.

7. The AGM was held on the 30.11.11. At this meeting Mr Nicholas Curtis, CEO for the past 11 years, and Chairman for the past six indicated that all Directors including Mr Curtis would stand for re-election at the 2012 and 2013 AGMs.

Also at this AGM the LAMP was declared to be more than 85% complete and was supposed to be operational in the 1st Quarter of 2012. Well that milestone has come and gone like all the others. As reported on the 31/3/2012 the plant is more than 98% complete but we are are not in operation yet.

It seems that as we get closer to the end of the race we just seem to get slower and slower or more obstacles are thrown in our path. I wonder what it will take to get this LAMP lit?



regards





jukieoz836