I think it's fairly safe to say there won't be any dividends for...

I think it's fairly safe to say there won't be any dividends for the next 2-3 years as the focus is on growth and expansion, esp since demand forecast has been revised upwards much earlier than expected. Our customers want more product and they want it yesterday. That's why Lynas is desperate to get to NEXT rates. If after the period of intensive capital investment Lynas is still churning out cash, it might then be prudent to return cash to investors, like the iron ore majors do, for example. In the meantime, I'm more than happy for the company to use its first mover advantage to expand rapidly and further establish itself as a GLOBAL supplier of choice in this industry now poised for growth. Company success will be reflected in its share price first, then dividends.