optimise production at the phase 1 capacity???

"Optimise production at the Phase 1 capacity level of 11,000tpa REO until market prices recover"

Optimise does not mean maximise in my opinion

This comes straight from the investor update released yesterday and had previously been stated a few months ago

So my interpretation is even when plant has been fixed completely Lynas will not run Phase 1 at full capacity until market prices recover

This statement announced earlier and reinforced yesterday highlights managements continual wishes to not clearly clarify in black and white the situation and activate "spin"
communication in my opinion

Another fact that I would to point out is the net asset backing of company is now around 580 million dollars - equivalent to less than 30 cents a share

There is also the matter of 10 million dollars that needs to be given to one of its lenders early in calender year 2014

So even if the plant gets back to name plate capacity by end of december 2013, it will not run at name plate capacity until market prices recover

I believe it will be touch and go for a credit raising

The above is my opinion and should not be construed as investment advice