TTROW
Little slow to day so I was printing the Q1 report to be ready for Q2 CC.
Here are the highlights from page 1 of Q1 report on KAL
o Continuing progress on the construction of the Kalgoorlie Rare Earths Processing Facility:- o Procurement of equipment complete, on time and on budget
- o All major construction packages awarded with works proceeding according to plan
- o Project budget forecast updated to approximately $575m including additional scope of works to improve efficiency and increased throughput and contracted increases in certain construction costs
Note that line one says on time
on budget. Lets see if that is true.
Page 1 of 2019 plan says
"• A $500m capital plan self-funded with the ongoing support of JARE" That was for all 4 projects KAL, Texas, PWD, lamp improvements.
https://wcsecure.weblink.com.au/pdf/LYC/02107222.pdf now Line 3 says KAL will cost 575M For KAL How can line 1 be correct when compared to the other information. Can they not be consistent even within these 3 short lines? I am encouraging you to reread 2019 and tell me if the original KAL plan was not sold as having the capacity to handle expansion beyond 2025. Now it needs to be expanded just to meet 12 KT. Does that make sense to you? 12 Kt is only 14 % more than 10.5. The original plan was said to be flexible for expansion Why so much for a 14 % increase? Again I am not saying Lynas is worse than Mp. I am just pointing out how the ruler you use for Lynas is very different than the one you use for MP. I think many current Lynas stock holders will not be happy with real results when they see them.
I do not think MP will meet all they say, That is why as I sold my profitable Puts in MP I only reinvested a small amount in calls not stock. High risk keep the investment small and leveraged. When MP was USD 60 in April I saw little risk in it going down. Lynas also hit its multiyear high AUD 11. 59 on the same day, 4 April. when MP dropped $4.00 to 24.XX I knew Good chance of gain but keep investment small. A little FOMO involved but I tempered it.
(20min delay)