Revenue H1 - $200.9M COP H1 - $117.8M Revenue total FY18 -...

Revenue H1 - $200.9M
COP H1 - $117.8M

Revenue total FY18 - $374.1M
COP total FY18 - $253M

To find H2 results deduct H1 from total FY18

Revenue H2 - $173.2M
COP H2 - $135.2

On a H1/H2 FY18 comparison revenue was down $27.7M and COP was up $17.4M.
Note: 100t NdPr added to inventory June Q.

I would consider using FY18 data unreliable as a baseline to make an informed decision on future results, especially when just concentrating on H1/H2 comparison. The REO price spike during early part of H1 2018 positively effected revenue and the H1/H2 regulatory inspection of kilns, H2 water supply issues and Lynas NEXT work negatively effected production volumes a d COP which means the data has been “corrupted”. Potential was certainly there for H2 results to be much better.

Can’t deny it was a great result for the company on a full FY basis compared to previous years. Obviously for the SP to appreciate from here future results will need to be better again.

Record breaking Sep Q results would certainly make things interesting.