pre-operation license, page-78

At the AGM,30th Nov,NC was still talking about first feed/first Qtr 2012...no mention of exactly which jan/Feb/March..nor of a 7 month possible delay.

On the same day (find this odd) MITI/AELB ..apparently no SMSL..were having a tour of the LAMP.
The journo covering the tour was first to raise this ..7 mths issue.

A 7 month delay is something that any ASX listed company would need to announce.
Would it be PRICE SENSITIVE...You bet..so there would have been a Trading halt the day after ...thurs Dec 1st

Because 7 months takes us into May/June..depending when 7 mths starts.
The construction of LAMP should be completed by Feb latest.
So what does LYC do during march/april/may.No POL..no ores from MT W.

During this same period as the LAMP is not processing,there is no waste,so nothing can be monitored..and the LAMP starts rusting..so as to speak.

LYC was contacted immediatly and received an email reply from Gloria Rogers basically stating...LYC would not comment on the interpretational comments made by the Journalist in his article.


LYC is not the only one effected by a 7 mth delay.
The Gov. has invested rmb300m into 2 chemical plants waiting to supply sulphuric/hydrocholric acid to LYC..will their staff be laid off.
IAEA would be watching with interest..as all these approvals are notsupposed to be political..after all its just a processing plant..set rules and regulations.Anything else ie elections/teaching a lesson/saving face would fuel a detrimental image for soveriegn risk/Internation Investments.
Sojitz...dont underestimate the Japanese Gov...they have huge leverage with all their other Malay investments.
they wont stand for stalling tactics,they need REE,s.
Siemens/BASF /Germany are also watching this closely/Malays largest Europeon trading partner.
Rhodia..and all the signed contract clients (im sure they are majour global companies).

If you put all the above puzzle bits togather,the final picture is still at guessing stage.

My summary so far.
The 7 mths thing is a RED HERRING.
(proof..many were spooked by this 7 mth thing..had the weekend to digest..many sold off today,others sold some.
RED Herrings always give adverse results.
HC always uses the word synchronise..this i believe in.
The first shipment frm MT W will be in sync ..with..Kilns ready to accept first feed..3 weeks for transport..would point to the POL approval in Jan.
It may not be in the form of POL..yes politicians move the goal post...but permission to transport from MT W.
This is the only spot I can put the 7 mths..ie 7 mths monitoring the WASTE..the key issue.
This could be a pre pre license..stupid i know..but a way to get underway,and assuring people ..all is not yet decided.

The Red Herring didnt work anywhere else except on this forum.
The shorters didnt swallow the 7 mths,they were buying back in today in droves.
The Smart money didnt back off either.

Just trying to put the puzzle togather.





Forum goes paranoid re 7 months...result...SP climbs to $1.35.