"Now look at the no of shares to the price now. In effect after...

"Now look at the no of shares to the price now. In effect after dilution, it is not far off its highs."

You have to take into account the debt position before the share dilution and the fact that more capital had to be raised at that stage to fund through to production. That was taken into account with the SP at that time. Taking these things into consideration it is not correct to say that the share dilution should be taken as a case for reducing the SP on a comparable percentage.

LYC is now fully funded, is closer to production than at that stage and rare earth prices are better. Production is all sold without a fixed price so LYC is in a position to take advantage of the better prices.

Be careful how much weight you put on share dilution.