News on supply agreement with car makers soon?, page-16

Your most likely right re chems, inputs priced in revenue currency makes sense, but it has a neutral impact vs USD revenue.

While I did see the earlier note you refer to also noted AL's comment in yesterday's Spectator piece:

"Meanwhile, Ms Lacaze said the movements in the Australian dollar and the Malaysian ringgit have been positive for Lynas, which operates three big production units in the South East Asian country.

The Malaysian ringgit saw its steepest slide since 1998 last week, plunging 3.8 per cent against the US dollar, and bringing its depreciation against the greenback to 24 per cent for the year. Meanwhile, the Australian dollar has lost 22 per cent of its value against the US dollar since this time last year.

Most of Lynas’ sales are in US dollars, while the firm spends in Australian dollars and ringgit, so Ms Lacaze welcomed the weakening."

Now that could be just a bit of superficial journalism, or did AL renegotiate the chem contracts back to ringgit in the restructure?

Can only wait 'n see I guess, although perhaps you'd think it would have been mentioned at the time, as a fairly significant event.