management must be held accountable

There has been a lot of criticism hurled at Lynas management over the last days, weeks, months and years. When you look at what management are actually accountable for, I would argue that many of the external factors (rare earth prices, Malaysian objections etc) were beyond their control and therefore some of the criticism they have received for this is not warranted.

What is warranted and what they must remain accountable to shareholders for however is the issues with LAMP. This was in their control, it was a project they had direct oversight of and was a strategy that they signed off on as a board of directors.

The fact that today it is 12 months since first feed and we still do not have confirmation that the plant can operate to specification is likely an example of gross negligence by the board and senior management.

This group of individuals cannot be allowed to throw $800m dollars into a black hole without responsibility, they simply must be held accountable to shareholders for their actions.