Lynas has restricted cash for the deferred interest payments but...

Lynas has restricted cash for the deferred interest payments but they still accrue and are liable to the interest.

Unlike Australian banks who will surely pull trigger to put LYC into administration on its current state, Japanese has a long term commitment on this company due to geo political reason.

I did exited this company at a loss when their loan is being renegotiated but bought back after the successful renegotiation of loan. The terms demonstrated to me how serious the Japanese are.

Now that the company is turning, I am glad I bought back. The current SP already covered my previous loss plus a small profit so not complaining.

Still a long way to go but IMHO LYC is now in a better position and will be looking ahead for better outcome.

Current MC does not even consider Mt. Weld assets so I believe the SP still has a big room for rerate. 2016 is to demonstrate that they have a viable business.

Unless fundamentals changed, I am still happy to hold (2-3 years) or when my target price is reached.

IMHO and please DYOR.