LYC 0.00% $6.40 lynas rare earths limited

shareholder questions to lynas

  1. RVR
    6,297 Posts.
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    A frustrated LT shareholder has sent the following request to Lynas, and is happy for me to pass it on:

    "Sent: Monday, 22 April 2013 8:27 AM
    To: Lynas Corp. ([email protected])
    Subject: RE: Revenue & Earnings Guidance

    Alistair Reid
    Investor Relations
    Lynas corporation

    Dear Alistair,

    After reading the quarterly report and listening to the Investor Relations call on the 19th of April I am writing to ask if it would be possible for the CFO to provide guidance to the market regarding expected revenue and profit for Q2 2013 based on the expected 11,000 tonne production target being met. 
    At this stage various earnings per share figures have been put out there by analysts from a number of broking houses. Their assumptions regarding cost of production and sales prices achieved are just that assumptions and educated guesses. It would greatly assist existing shareholders and prospective shareholders in making informed judgements regarding the company’s short, medium and long term future if such guidance was provided to the market. 
    At this stage the company’s shares are still being heavily shorted and as at the 15th of April there were some 201,721,369 shares out on loan out of a total of 1,960,801,292 on issue, or 10.287% of shares are officially out on loan according to figures reported to ASIC, if these figures are to be believed as they may not account for shares out there being traded in “dark pools”.
    For example on Thursday the 18th of April of the 8,558,010 shares traded that day some 1,469,945 or 17.18% were short sales this high level of shorting despite all the real progress being made by the company is very disheartening to your long suffering retail investors. Another feature of that day’s trading like many other days was the very tight spread between Open, High, Low and Closing Price O 0.49c, H 0.50c, L 0.48c & C 0.48c. indicating to me and many others who monitor the situation that the institutions are controlling the Lynas SP as they have for a very long time.

    Awaiting a positive response from the company.

    Yours sincerely
    ........................
    Frustrated and long suffering Lynas shareholder"
 
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