Certainly not the tone at PDAC, and they are struggling to produce a 52% TREO ATM, let alone convince the ATO to release second half of their "R&D" funding. If any want a belly laugh go find their Definite Fantasy Study based on 4x current DyO values.
Far better template would be ARU's recent permitting NT with several multiples Mt Weld Th & U @Nolans (& $1Bn CapEx), quite understandable given they are one of that group of failed uranium explorers morphed RE.
Also of great interest is their DFS which totally supports UBS $60kg NdPr "barrier to entry" concept with a very skinny IRR 10% at a baseline value ~$66kg vs UBS 2020 $47.50 2021 $57.50 and LT forecast $60kg. Distinct a breakeven number for the wannabes Lynas has more than adequately demonstrated it would be a veritable cash cow at anything approaching the 'barrier to entry" threshold, these are the numbers that have drawn the major funds, holding & adding thru the Malaysian farce.
Basically, I'd suggest Lynas would have little difficulty both permitting C&L in Australia, nor financing it, and it would most likely be the basis of a further expansion phase, with SX/F anywhere other than Malaysia.
LYC Price at posting:
$1.64 Sentiment: Buy Disclosure: Held
(20min delay)
