Without getting into the moral debate I think the point is, as above, "as investors are betting that the rare earth story is over".
Falling REO prices yet to make a floor, only about 50% of the Chinese quota taken up in 2011 and a generally weak growth outlook, not all that hard to understand why the shorters have piled in on the back of the earlier hype.
Lynas is not on its own here, Moly massively shorted, but with the LAMP about to start production and profitable even down around $40kg plus 90% S1 presold you'd have to be confident that with successful execution Lynas will be the first to reverse this trend but it's not going to happen overnight.
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