News: LYC Lynas Posts HY Net Profit After Tax Of A$156.9 Million, page-2

• EXPECT TO ACCELERATE INVESTING IN MT WELD RESOURCE TO ENSURE WE CAN CONTINUE TO FEED OUR GROWING BUSINESS

This was the next logical step.

I hope we'll see the LAMP being converted to 2-3X-higher throughput on solvent exchange potentially with push into SEG and HREE refining possibly including toll processing or recycling efforts. Even possible we will see UUUU Energy Metals looking to increase their rare earth mojo and talking to Lynas.

It's a massive change in MAL ops as KAL comes on-line and I expect significant downtime to be effectively leveraged to optimize post-change COP and I am hoping that we can get all-important ROW Dy supply going long before the US ops will come to production. Solvent exchange refining of SEG and HREE inputs to single elements is outsized compared to LaCeNdPr separations; more tanks more space more time more energy per unit mass of REEs. But the process itself is very familiar to the LAMP team; nothing new just more for less.

And what to make of last year's announced AUD$14M award for their in-house "industry-first Rare Earth carbonate refining process"?

Back at Mt Weld the long-awaited commissioning of the conc dryer is definitively underway (took longer than I expected) and that will lower current shipping costs (as more dry ore less water per ton shipped) as well as any new costs that might be associated with offloading in KAL as opposed to portside. I want to know but I don't need to like I used to; they can handle the details; they've proven that for years.

They experience difficulties, yet they execute. Builds trust every time; trust is forward-facing and investable. Given the opportunity in front of this team, and given the deposit we know they have, I'm comfortable buying and counting eggs.

Bottom Line: Just as I was thinking they might be turtling at Kalgoorlie I happily find they are busy bees on every front.