July 28th Date for judicial review decision, page-23

Every one keeps thinking that WES is coming back. they have bought other companies and paid special dividends to their stock holders. They do not have cash they had. Lynas book value is is just over AUD 1. Any company that pays more than this has to declare the difference as good will. Seldom can good will be financed. To make maters worse WES already has 3.6B of good will on their books. They did make 5.5b in 2019 but that dropped to 1.7B in 2020. A quick look at the most recent AR will quickly show that unless Lynas stock holders will accept a sub AUD 2 price Wes will not buy. Simple reason they do not have and probably cannot raise the money.
WES AR https://sitefinity.wesfarmers.com.au/docs/default-source/reports/annual-report-2020.pdf?sfvrsn=8ccf0fbb_2

Bankers and company executives are older experienced people. they rely much more on traditional metrics when evaluating a company than younger investors. If any body here thinks Lynas could be bought for even 2.25 to day I would really like to see the reasons. You need numbers. A company I helped create did several cash raises and was sold 3 times. All investors want to hear about are the present and expected numbers. I might change my mind if I saw a good argument.