Luckym, I think youve hit the nail on the head, We are now looking at delays and most would not expect first feed for the LAMP till after Xmas. We are being starved of critical info as to how big the delay will be!!! Now if things were going according to plan we would Have at least 1 shipment of concentrate Landed in Malaysia, We should have at least had an ann that a load of prime concentrate is at Freo port awaiting loading the second the import ban is lifted!. We should have had an Ann that the LAMP is complete and is being primed for first feed! These things may be happening and LYC just isnt telling anybody because of the sensitive nature of the info to the anti LYC malaysian movement , (in which case the smart money would know and be moving us up?) or we are running behind, way behind?
Anyway heres some exerts from the March 2011 quarterly report indicating where we should be, note the use of phrases 'remains on time' and 'remains ahead of schedule', no hints of any delays at all in actual fact at this point one would assume we may start up early!Mind you they were also announcing the capital raising to meet the conditions of the Sojitz deal, Im sure they wouldnt be stretching the truth about the completion date just to make it a little easier to raise some capital?.......would they??
'The inspection of critical equipment from China is completed and the progress of the factory acceptance test for the process control system stands at 75%, and is scheduled for completion in the next quarter.'
'Lynas Advanced Materials Plant (LAMP) in Malaysia remains on time as at 31 March 2011; with the first feed to kiln at the LAMP on target for September of 2011'
'The overall completion of the Ready For Start Up (RFSU) programme stood at 80.4% at the end of the quarter, which remains ahead of schedule.'
'Lynas understands that the review will be completed within one month and as such believes the review will have no impact on the anticipated completion date of the LAMP.'
Luckym, I think youve hit the nail on the head, We are now...
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