Mark Smith, the CEO of Molycorp, has been ousted. The stock is down over 8% after hours! With lawsuits and a SEC investigation in the wings, his overly robust predictions and forecasts for Molycorp may have led to his ouster IMO. Although many have maligned Nick Curtis, overall he has not proclaimed any outrageous predictions for Lynas and has managed his way through many difficult situations in both Australia and Malaysia. For me his leadership has not been more conservative and steadfast than that of Mark Smith at Molycorp. We are finally on the verge of actually producing some Reo products and co-products! Although the delays over the LAMP have been very costly, Lynas has surmounted some incredible hurdles. Lynas is finally on the way to becoming a profitable company.
MCP Price at posting:
$1.84 Sentiment: LT Buy Disclosure: Held
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