Vorhetta, I hold LYC but I am not very happy with the wording of...

Vorhetta,

I hold LYC but I am not very happy with the wording of the wording. As mentioned by others, Lynas were pretty clear the plant would by running at a rate of 11,000 tonnes per annum by end of June.

The wording more than implies, it confirms that they have not got the whole plant running at once at the nameplate and that they have further issues. These may have been minor or major issues but the market should have been advised.

Increased output on March qtr was a no brainer. I was not expecting cash flow neutral yet due to timing differences between paying for input costs and receiving customer payments but they should have given production and sales volumes, I know it is not a legal requirement but it would have been welcome for the new CEO to start off with being more open about the situation.

As I mentioned in a previous post, the guidance given for June qtr had no substance, no sales, production or profit estimates, only we expect to hit run rate of 11K tonnes per annum by end of June ( could have been 1 day) Lynas seems to have covered themselbves on guidance by saying seperate sections ran at nameplate at different times.

With 2.5 billion shares on hand, talk of $2 & $4 share price in future is not possible, this would require after tax profits of $500 mill to $1 billion per annum. It will be a long time,if we ever see $1 again.