Lynas Corporation Operations Update

Lynas-Corporation-LtdFebruary 27, 2013 (Source: Lynas) — Lynas Corporation (ASX:LYC, OTC:LYSDY) is pleased to confirm that the Lynas Advanced Material Plant in Malaysia (LAMP) has produced its first Rare Earths products for customers.

Lynas announced on 7 January 2013 the successful commissioning of the cracking and leaching rare earth extraction units at the LAMP. The recovery rates from the cracking units continue to be high (i.e. in excess of 90% of the contained rare earth oxides (REO)).

Following commissioning of the cracking and leaching circuits, the Company has been working through early stage production issues that are typical for any start up of a new plant. Our focus is on increasing throughput and optimising use of equipment. These issues have not materially impacted on the overall production ramp-up schedule. The Company’s target for the Phase 1 nameplate production capacity of 11,000 tpa REO remains Q2 2013.

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  1. Congratulations Lynas! Hopefully you will now be able to allay the local Malaysian peasantry’s politically induced fears re the processing residues.

    I suggest that Nick Curtis demonstrates the safety of the by-products by sleeping on a bed made from them for a few days.

    As a long term Lynas shareholder I feel that he should put his “balls” on the line as it were as he certainly put my money on the line with his decision to locate the processing facility in a politically unstable/volatile/easily led Malaysian community.

    All in all Lynas’s Malaysian social problems has demonstrated the power of social media and it now should be a legal requirement for ASX listed companies to monitor what is being said and by whom.

  2. sparty, what exactly do you and your snarky little body do for a living? Any responsibility involved or merely mouth-movement? Ever try “basher’s anonymous”? sleep well, little mate…

    • I am a full time investor with a particular interest in the Australian resources sector. I own and edit 15 resource related websites, 4 blogs and two twitter accounts. I receive around 50,000 – 100,000 visitors a month and my alternative energy blog has 28,000 members.

      I have a particular interest in Australian rare earths and have edited http://www.australianrareearths.com for over 5 years. So I have in summary a wide range of interests and a lot of skin in the game.

      (I do note that Ian Curtis LYC’s CEO is being replaced)

      Sandy are you a troll?

  3. sparty,
    With such an interest in Oz RE’s I’m rather surprised you are not aware that Nicholas Curtis was in fact Lynas’s Exec Chair and in an orderly progression on reaching first production the Board have decided to separate the roles with Nicholas Curtis retaining the Chair and focusing on strategy and the COO, Eric Noyrez, promoted to CEO.
    If the two comments you’ve made here are any reflection of your work I’d suggest there are “15 resource related websites, 4 blogs and two twitter accounts” well worth avoiding.

    • News for lynas ceo

      Lynas names new CEO as Lamp starts production
      The Australian Financial Review ‎- 2 days ago
      Nick Curtis has dismissed concerns over whether he would be able to step back from the executive function at rare earths miner Lynas Corp, …

      Lynas Names President Eric Noyrez to Succeed Curtis as CEO
      Bloomberg‎ – 2 days ago

      Lynas names new CEO as Lamp starts production
      http://www.afr.com/…/lynas_names_new_ceo_as_lamp_starts_...
      2 days ago – Nick Curtis has dismissed concerns over whether he would be able to step back from the executive function at rare earths miner Lynas Corp, …
      Lynas taps new chief as production ramps-up
      http://www.smh.com.au › BusinessDay

      2 days ago – Lynas announces CEO succession plan. Lynas Corporation Limited (ASX:LYC) will enact board and management changes to reflect its …
      Lynas names new CEO | The Australian
      http://www.theaustralian.com.au/…/lynas…ceo/story-e6frg90f-1226589732...
      3 days ago – MINER Lynas will have a new chief executive from April as it ramps up its production of rare earths products.

      New CEO for Lynas | Mining Australia
      http://www.miningaustralia.com.au › News
      Andrew Duffy
      3 days ago – Lynas Corporation CEO Nicholas Curtis is set to step down at the end of this month, as the company moves into rare earths production.

      Lynas – Wikipedia, the free encyclopedia
      en.wikipedia.org/wiki/Lynas
      Forge, a company listed on the ASX, also shares the one and only common Director and CEO of Lynas, Nicholas Curtis, although former Lynas executive …
      Lynas CEO Finds Social Media Hobbles Rare-Earths Plans …
      http://www.bloomberg.com/…/lynas-ceo-finds-social-media-hobbles-rare-e...
      Jul 2, 2012 – Lynas Corp. Chief Executive Officer Nicholas Curtis said he underestimated the power of Facebook and Twitter when his mining company …
      Australian Rare Earths – Lynas Corp News
      http://www.australianrareearths.com/lyc-news.html
      Australia’s Lynas appoints new CEO – MINING.com

      … Lynas Corp Has New CEO – International Business Times AU … Lynas announces CEO succession plan …

      Lynas CEO Nicholas Curtis to be Replaced at End of March | Rarerareearthinvestingnews.com/9173-lynas-ceo-nicholas-curtis-to-be-rep…
      2 days ago – Lynas Corporation Ltd. (ASX:LYC) announced that effective March 31, 2012, its current CEO, Nicholas Curtis, will be replaced by Eric Noyrez.

      Australia’s Lynas appoints new CEO | MINING.com
      http://www.mining.com/australias-lynas-78661/?utm_source...
      2 days ago – Australian rare earth miner Lynas Corp. (ASX:LYC) announced Monday the promotion of Eric Noyrez to chief executive officer as of March 31.

      • sparty,

        Your familiarity with all the social media suggests there’s probably not a great deal of originality in your “15 resource related websites, 4 blogs and two twitter accounts” but you obviously have some trouble transcribing data when you can’t even get NICHOLAS Curtis’s name correct let alone understand the rationale behind the news. Separation of the Exec Chair roles is an important step in Lynas’s development which now provides a sharper focus on both strategy and execution.

        • My familiarity with social media is related to:
          1. The ideation that sentiment is a frequent driver of the stock market and that it is a valuable tool for understanding more about sector trends etc.

          Of late it has been suggested in the business media (AFR etc.) that “social media analysis” should become part of a company’s due diligence. In fact Nicholas Curtis made reference to the part that social media had played re the LAMP and that he wished he’d paid more attention to it earlier on.

          2. My daughter’s company Dialogix.com has been involved in social media analysis R&D since 2008 and her team has come up with a useful tool for company’s that are exposed to social commentary. (I am trying to persuade her to fine tune a tool-set for investors).

          But getting back to my earlier post: I was simply trying to show you Nick/Nicholas Curtis was referred to as Lynas’ CEO by most of Australia’s leading newspapers, hence the list of articles.

  4. So the Australian Financial news, The Australian, The Sydney Morning Herald, Bloomberg, rareearthinvestingnews.com, International Business Times and News.com.au have all got it wrong just like me?????

    (Seems like I am in pretty good company)

    https://www.google.com.au/search?q=lynas+ceo&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

    Lynas names new CEO as Lamp starts production
    The Australian Financial Review ‎- 2 days ago
    Nick Curtis has dismissed concerns over whether he would be able to step back from the executive function at rare earths miner Lynas Corp, …

    Lynas Names President Eric Noyrez to Succeed Curtis as CEO
    Bloomberg‎ – 2 days ago

    Lynas names new CEO as Lamp starts production
    http://www.afr.com/…/lynas_names_new_ceo_as_lamp_starts_...
    2 days ago – Nick Curtis has dismissed concerns over whether he would be able to step back from the executive function at rare earths miner Lynas Corp, …

    Lynas taps new chief as production ramps-up
    http://www.smh.com.au › BusinessDay
    2 days ago – Lynas announces CEO succession plan. Lynas Corporation Limited (ASX:LYC) will enact board and management changes to reflect its …

    Lynas names new CEO | The Australian
    http://www.theaustralian.com.au/…/lynas…ceo/story-e6frg90f-1226589732...

    3 days ago – MINER Lynas will have a new chief executive from April as it ramps up its production of rare earths products.
    Lynas names new CEO | News.com.au

    http://www.news.com.au/…/lynas…ceo/story-e6frfkur-1226589732474?...
    3 days ago – MINER Lynas will have a new chief executive from April as it ramps up its production of rare earths products.

    New CEO for Lynas | Mining Australia
    http://www.miningaustralia.com.au › News
    Andrew Duffy
    3 days ago – Lynas Corporation CEO Nicholas Curtis is set to step down at the end of this month, as the company moves into rare earths production.

    Lynas – Wikipedia, the free encyclopedia
    en.wikipedia.org/wiki/Lynas
    Forge, a company listed on the ASX, also shares the one and only common Director and CEO of Lynas, Nicholas Curtis, although former Lynas executive …

    Lynas CEO Finds Social Media Hobbles Rare-Earths Plans …
    http://www.bloomberg.com/…/lynas-ceo-finds-social-media-hobbles-rare-e...
    Jul 2, 2012 – Lynas Corp. Chief Executive Officer Nicholas Curtis said he underestimated the power of Facebook and Twitter when his mining company …

    Australian Rare Earths – Lynas Corp News
    http://www.australianrareearths.com/lyc-news.html
    Australia’s Lynas appoints new CEO – MINING.com … Lynas Corp Has New CEO – International Business Times AU … Lynas announces CEO succession plan …
    Lynas CEO Nicholas Curtis to be Replaced at End of March | Rare …
    rareearthinvestingnews.com/9173-lynas-ceo-nicholas-curtis-to-be-rep…
    2 days ago – Lynas Corporation Ltd. (ASX:LYC) announced that effective March 31, 2012, its current CEO, Nicholas Curtis, will be replaced by Eric Noyrez.
    Australia’s Lynas appoints new CEO | MINING.com
    http://www.mining.com/australias-lynas-78661/?utm_source...
    2 days ago – Australian rare earth miner Lynas Corp. (ASX:LYC) announced Monday the promotion of Eric Noyrez to chief executive officer as of March 31.

    • Sparty the actual announcement is clear enough:
      “.. Eric Noyrez will be appointed to the board as an executive director and become the company’s chief executive officer. Nicholas will remain on the board as non-executive chairman…”.
      I think that’s clear enough and entirely in line with Tim’s post.
      Sparty are YOU a troll??

      • What I am re Lynas is a concerned and annoyed long term shareholder.

        Lynas’ move to Malaysia was IMO an ill considered attempt to save money that backfired compounded by a lack of attention to the, perhaps still, evolving and known social concerns.

        My view was confirmed several times at the 3rd annual Rare Earths and Strategic Metals conference held in Sydney last week. One senior analyst told me that Lynas’ LAMP will always be just one step away from the next court case. The looming elections also add a wildcard.

        • sparty, your inability to understand the choice of Malaysia for the LAMP demonstrates a total lack of understanding of the economics of the RE industry, current & future. While delays at the LAMP have been quite serious they need to be put in the context of a 25+ year business plan.
          That should start to become more obvious to you with the FY 14 & 15 Annual Reports.

          • Tim,
            I spent almost 5 years in South East Asia and several months in Malaysia. I lived within the local communities -although admittedly I didn’t visit Kuatan.

            My impression of Malaysia was of a deeply divided community with entrenched Institutional racism. Have a read of this article http://english.cpiasia.net/index.php?option=com_content&view=article&id=2272&catid=78 especially the part written by Dr.Benjamin Bowling -(Professor of Criminology & Criminal Justice and Director of Criminological studies in the School of Law, King’s College London.) and you’ll see that I am not alone in my opinion.

            Will sovereign risk outweigh economic advantage over the next 25 years?

            Tim on a more personal note: You seem incapable of writing something without a derogatory undertone. Is that because you have a lot riding on LYC and are desperate for it to be successful? As I am a newcomer to this forum I need to ask what you actually do in “real life” so that I can get a handle on where you are coming from. (I have been pretty upfront – your turn)

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