LYC 3.42% $7.34 lynas rare earths limited

valuation post toll, page-6

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    Short term, I agree initial operation costs will be significantly higher that $15, but will level out to $16/$15P/Kg by 2015, below is the way I see it.



    2012 approx $32.00 - $37.00 P/Kg ( Commissioning Stage )

    2013 $20.00 P/Kg
    2014 $17.00 P/Kg
    2015 $15.00 P/Kg



    Regards from Grant
 
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