Hi All, With Lynas having to accept further conditions, its operational start-up has been delayed for over 12months incurring losses of RM32 million or $10 million AUD of shareholders money per month. These delays have also affected customer confidence. Over the past year, shares in Lynas have dropped 60% in value.
Long suffering retail investors have seen the value of their shares decline substantially under the stewardship of our CEO and Chairman Mr Nicholas Curtis AM and the current Board. I believe that some of the responsibilty for the position the company finds itself in must lie at the feet of the senior management team and the Board of Directors.
I would like to remind everyone that the entire Board including Mr Curtis will be standing for re-election at the November 2012 AGM. Maybe the Board needs to look at its succession plans and Board renewal to take the company forward. As Always DYOR I am not licensed to give financial or any other type of advice I am only a humble retail shareholder who knows "nothing" unlike our betters in senior management and the Board of Directors. This is a personal opinion piece only.
P.S. I expect to be modded by the thought police sigh.
best regards to ALL holders
LYC Price at posting:
81.5¢ Sentiment: LT Buy Disclosure: Held
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