Malaysia PDF site, page-35

Agree that deadlines should be watched. Spending I would argue is not a great indicator of progress. Can be, but not always. Action on ground is what I would be watching for. Agree that deadline is approaching and that significant time has passed. But, bear in mind that neither PDF nor Kal has had final approval for works to commence.

Works and manufacture (except long lead items such as kiln) will not be given the green light until such time as that is gained. But I would bet my holding that everything is priced and time lined ready to go at the drop of a hat. Ie. Slab would be engineered and costed with an X weeks time line til when it is ready for construction to begin on top. 'Shed' will be ready to manufacture and will be on site ready to erect based on slab time line. Pipework, ducting, plumbing, electrical etc all the same.

Would further bet that Lynas has a D day for construction to begin so that deadlines can be met (including commissioning), and you can be sure that they have communicated this to the approving authorities. This would be for Kal and each of the PDF options.

The other thing is, they are not beholden(?) to some useless, over paid outsourced architect / engineer / project manager for these projects that don't care if a project is pushed back because of their inability to make a decision. (Moreso Kal than PDF as I think, please correct if wrong, the $10m was paid for design / engineering / consultancy so they couldn't be seen as dodging responsibilities) Lynas has designed and engineered (mainly Kal) to their own design/spec. Sure some things will get subbed out for design/spec, but overall, it is all theirs, because no one else knows how to do what they do.

Amanda could easily put on 2 or 3 or 4 project managers on $150k + a year plus teams to oversee these projects that report to the board. In fact IMO, we have alredy seen this happenning, with the reclassification of key Lynas personel to new positions/job descriptions.

Caution always, but have faith in a good team that are looked after - as Lynas staff obviously are. Good staff that are well cared for and appreciated will move heaven and earth for their employer.