LOM

With the recent discovery by SilverWright of Dec 2017 documents stating "The anticipated end of mining is 2031, based on current ore reserves", I'm changing my sentiment to Hold.

Let's look at the immediately preceding statement in that same report: "Ore is currently processed at a throughput of approximately 170,000 tpa which is scheduled to increase gradually to approximately 477,000 tpa by 2024."

Take an average of 170,000 and 477,000 (323,500 tpa) and apply that through 2024, seven years, then continue at 477,000 through 2031, another seven years: (323,500 x 7) + (477,000 x 7) = 5,603,500 tons of ore.

The 2016 CLD reserve update in the D&D presentation (which as I've pointed out before was not otherwise published) gives proven ores reserves at 5,500,000 tons at a 4% COG.

So that meshes nicely.

I remain hopeful that the resource update will significantly expand ore reserves.

ausheds has sworn up and down just recently that Lynas has planned mining campaigns all the way through 2035, so some may wish to hang their hat on that.