Lynas has to raise more cash due to the delays and the licence comes eventually....
We now have a market cap of 2 billion....
In the background we have been pushing forward with Phase 2...
By 2014 we are selling 15,000 tonnes (conservative) of rare earths....
Basket price of $50 with costs of $25 = 50% margin....
$25 X 15,000 tonnes = 350 million/ mkt cap of 2 bill @ PE ratio of 12 = SP of 2.25
And that is hopefully the worst case scenario and does not take into account the duncan deposit, acquisitions or JV's
Just my thoughts only .....
worst case scenario ain't that bad
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