Something is Wrong, page-4

Jim,

The changes in financing have given Lynas som much needed breathing space. But, it seems that the company is still being valued on current business performance.
They are yet to turn a profit, before any one offs, the June qtr , the best yet, still resulted in an accounting loss of somewhere in the region of $20 mill. You have to add interest and depreciation at least to the Jun qtr cash figures.
And before anyone says depreciation should not count, it does because equipment has to be replaced and profit needs to cover replacement. You would find that the life of assets probably varies between 3 years and 40 years (buildings). And apart from buildings most wil, have a life of 12 years or less.

Share price will move if they continue to improve and make a profit.