Retail Investor Call with Darrly & Peter, page-24

Hi @spendthift In terms of SP catalysts in the next 6 months:
- When some of the equity particpants see that the Offer Price will be above the current SP, this could cause them to withdraw and buy on market. This could also include the shorters. These equity particpants are looking to buy about US $50-100 million.....so this would add alot of buying volume.
- I think Phase 2 has not been fully understood by the market and is def not factored into the SP. Given the ARU CEO has said it will most likley be funded from cash flows or the unused debt/contingencies....there will be no other choice but to be part of this Cap Raise or buy on the market.
- Macro - there is a lot going on at the moment. I also don't think the Lynas BRICS issue is well understood by the market. Imagine you are USA DoD. And Lynas may have to spend another billion or more to remove themselves completely from Malaysia....where would that USA DoD dollars be better spent? I'm not fully across Lynas...but I bet these scenarios are being discussed in USA DoD.

'it is always darkest just before a [rare] earth dawn'