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 .....
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Lynas has to raise more cash due to the delays and the licence...
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