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Agreed. My own theory is that part of the aversion in China stocks is on fear of volatility, not just the old fraud argument.
So LPH has done a reconciliation to eliminate fraud risk. However, to alleviate fear of investors suddenly turning the other way like a heard of lemmings, reducing volatility is a plus.
My personal opinion -- for every 10 people that invest in a stock with high volatility, two get shaken out and are afraid to ever come back to that same stock. So there would be more investors holding strong if there was less volatility, just a slow climb with a tiny sawtooth pattern, instead of swings from the 52-week low back to the 52-week high over and over.
In the last 3 years, how many private sector small cap China oil stocks (with zero government ownership) have been nationalized?
That's what I thought.
You can laugh all you want, but the truth is that the loss of moderate views and independent thinkers like Arlen has been happening on both sides of the isle and is largely responsible for the ultra-polarized congress in the past few years that cannot find enough common ground to pass anything meaningful. Without the ability to make decisions and solve problems, the future of this country is in jeopardy.
RIP Arlen Specter. One of the few truly independent thinkers.
http://www.bloomberg.com/news/2012-10-14/arlen-specter-anita-hill-s-dogged-senate-inquisitor-dies-at-82.html
On topic: Management PR strategy
Based on the content and timing of their recent PRs, LPH may have intentionally tried to limit short term daytrading opportunities by the way they have handled their acquisition announcement and recent events -- I applaud these efforts, as continuing these policies should insert some stability into the sentiment and therefore stability in PPS.
For example, on September 24, the news of the Huajie acquisition was given in a pre-announcement which stated merely that the acquisition would close by end of the month. This information by itself was not proof of the event closing, so that daytraders could not buy in just for a quick pop. Then, when the final signing of the acquisition was announced September 27, daytraders believed the news had already partially been baked into price and sentiment, and were again thwarted from buying and selling the pop. The next event, announcement of operations startup and first sales, was announced in a sort of low-key way via a live conference October 11 in San Francisco, and since there was no written PR newsrelease the next morning, this news did not create a big bang so the stock price once again crept up too slowly for daytraders to sell the pop. Even before the pre-announcement, daytraders were feeling skeptical and remained on the sidelines because of the way the mid-September earnings conference call stated the acquisition would close by the end of the year and that LPH could not rule out a combination of bank and/or equity financing in the course of startup. Again, this kept daytraders away.
So because of these efforts, daytraders did not buy large positions that they would then sell after the news...and therefore the price of LPH did not suddenly fade as they took their profits a day or two later. LPH management is starting to wise up and is adopting a new strategy - they are proving to investors their credibility and shareholder friendliness, meanwhile minimizing the opportunities for day traders to jump in and short-term play with stock prices. In the long run this is good for the stock because investors will be less fearful of selloffs originating from daytraders, and there will be a greater percentage of long term investors and a small proportion of short term traders holding the outstanding shares in the public float. LPH may be turning into what may be someday regarded as a textbook example of a turnaround stock.
SeekingAlpha, Yahoo have turned into "Days of Our Lives" tonight...EOM
$LPH: RedChip conference: 6:56pm: Toups announced Huajie went online yesterday with first delivery. EOM.
MaxSoarFinancial released a new upgrade and one of the momo players, Bman microcaps, just posted he's in longwei petroleum here on the potential for 200 percent upside. Alert the stock is making a move this morning.
Bman microcaps in Longwei Petroleum...making a nice move up today.
The warrant expiration demonstrates once again that LPH cares about shareholder value. They could have pushed these issues to be transacted in one way or another but chose not to.
China crude consumption rises 7% Jan-July: NBS
Sept.18: http://www.c1energy.com/common/4278826,0,0,0,2.htm
GUANGZHOU (ICIS C1)--China’s crude apparent consumption totalled 278.1m tonnes in the first seven months of 2012, a rise of 7.01% year on year, data from the National Bureau of Statistics (NBS) showed.
Crude output of China was 117.7m tonnes in the January-July period, up by 1.69% compared with the same period last year, according to NBS data.
Net crude imports in the period gained by 10% year on year to about 160m tonnes, the data also showed.
China’s dependency on foreign crude stayed at relatively high levels of 57-58% in the period.
I think that LPH still requires patience because the uncertainty is in "when" the market will recognize undervalued, not "whether" the market will recognize undervalued.
As we go forward, you can bet that at least 3 out of the next 4 quarters will show some strong revenues out of Huajie and an overall gradually increasing EPS, that is a given.
It is also a given that even before Huajie, PPS was way undervalued on the usual uncertainties - market not trusting the acquisition would be done.
Note that LPH's PPS rise from the end of June until the acquisition was about the market starting to recognize legitimacy from the auditor publishing a reconciliation covering 3 years of SAIC tax filings versus SEC filings. The next step is for the market to recognize that earnings are going up - the market will either get it in advance when PRs about operations startup, or PRs about preliminary revenues are released, or if still skeptical seeing-is-believing will happen all of a sudden when a 10Q is released with the documented earnings and sales figures from Huajie included.
One way or another, it is going to happen.
Prior to 2009, LPH only owned one 50,000 metric ton tank farm (Taiyuan).
In October 2009, they did a PIPE share issuance to offer 14 million preffered shares to private investors to raise capital for buying the Gujiao 70,000 metric ton facility. Those preferred shares were later exchanged for common shares. In addition, the PIPE investors got one stock warrant for each share of preferred, which could be redeemed at a strike price of $2.255. However, price is below $2.255, so currently the warrant holders are not interested in paying up $2.25 for one share when they could buy shares cheaper on the open market. Plus, the 11.5 million warrants leftover from the financing are going to all expire on October 29. So the current sharecount will not change since the price of LPH probably won't rise that far in 3.5 weeks.
The recent acquisition of Huajie Petroleum added another 100,000 metric tons to capacity, and that purchase was done organically, using only internal company profits and without issuing any shares or taking on any debt.
So the track record from 2009 to 2012 is that LPH has grown from one facility to three facilities, from a capacity of 50,000 metric tons to a capacity of 220,000 metric tons (a 4.4 factor increase or 340 percent change in capacity). Excellent growth rate on good terms.
IMHO float size is not gonna solve that problem. Tutes often buy in small blocks so as not to disturb share price dramatically. I recall fall of 2010 when Navellier bought a huge block after hours and the price gapped from $2.35 to $2.85 if I am correct. But if tutes buy small (10K) share blocks a 2 or 3 times a day, over a month they can accumulate without creating a huge spike, especially if they do more buying on market down days. The roughly 30M float is adequate IMHO.
IMHO the main selling pressure is nothing more than fear of the past.
Daytraders who missed getting a full position at a good price BEFORE the Huajie deal was announced are very well versed in market psychology. They know all too well that all they have to do is just mention a few keywords like "Toups", "RTO", "RedChip", and "scam" along with a reminder that many china stocks have been reduced to short trading vehicles to be sold off on any news.
In other words, the daytraders are just the messenger suggesting that investors focus on fear of how RTO stock charts have traded in the past. So the problem lies in two areas - First, overcoming the stigma painted across the entire sector, and second, investors learning to grow a spine and ignore the ramblings of daytraders whose mission is to create volatility all the time - pumping the news, selling the pop, then bashing relentlessly so they can create the next low entry point as quickly as possible to wash, rinse, and repeat.
What part of the MaxSoar valuation estimates have to be revised now that the acquisition has closed?
Looks to me like they have to use $5.41 as the intrinsic value with a DCF model (which they have already done in two parts - $3.69 for Gujiao plus Taiyuan and $1.72 for Huajie).
The other method of valuation - estimating valuation proportional to the current TTM valuation of comparable chinese/asian stocks - MaxSoar made it clear that those models were in fact based only on PRIOR earnings (TTM), and did not include Huajie by definition.
So TTM P/E, TTM price/sales, and price per book of LPH will be different after the earnings from Huajie hit the bottom line for 4 quarters. Therefore, I would assume that the three estimates of target share price for LPH derived from the lowest priced comparable stock (Fortune Oil Plc) of $6.55, $5.87, and $3.82 will all go up.
The first two estimates ($6.55 based on P/E and $5.87 based on price/sales) should go up in proportion to EPS changes ($0.62 TTM currently versus $0.80 by next June and $1.00 by end of next year).
Those revised estimates, based on P/E and price/sales) by period ending next June and by end of next year will be: $8.45 and $7.57 for 6/30/13 and $10.57 and $9.47 by end of next year, respectively.
Holy cow, those values indicate LPH is undervalued by a factor of 6.
PRC Printing Money in China: Stimulus will help growth
I think central bank injection of liquidity will increase investment spending in construction in Shanxi, which already has a good deal of ongoing construction (Joe Natural visited Shanxi personally a couple months ago and can attest to the pace of construction). Further liquidity injections should therefore boost sales of oil and gas in 2012 and 2013.
"China Joins Liquidity Party"
From SeekingAlpha article, "Three Reasons to be Bullish on Emerging Markets"
http://seekingalpha.com/article/899721-3-reasons-to-be-bullish-on-emerging-markets
"If you can fog a mirror, you have heard about money printing from the Fed and ECB once or twice in the last few months. Central banks are injecting money directly into the financial system. According to the Economic Times, China has started to print as well."
"SHANGHAI: China's central bank injected a net 365 billion yuan ($57.92 billion) into money markets this week, traders said, the largest weekly injection in history, as regulators struggle to maintain liquidity without producing inflation as forex inflows slow." (Source - Reuters Sep 27, 2012.)
"As shown in the chart below (FXI/S&P 500), China has been lagging the S&P 500 in 2012. The green arrow shows the recent liquidity injection may enable FXI to break the current downtrend."
"Asia Breaks Out"
"The Asia Ex-Japan ETF responded to the liquidity injections from China's central bank. The chart below shows the performance of AAXJ relative to the S&P 500. The chart has a bullish look with several trendline breaks, a healthy RSI (bottom), and a big base below."
Shanxi annualized growth rate 10.1% first half 2012:
"Shanxi's GDP still grew 10.1% to 578.59 billion yuan (US$91 billion) in the first half this year, compared with 13.3% growth during the same period last year, as the province continued to score faster growth in investments and consumption."
"Beijing's Economic Observer notes that Shanxi has owed its stable economic growth in the first half of the year to the contribution of emerging industries. Data from the provincial statistics bureau shows that in H1, equipment manufacturing, foodstuffs and building materials scored growth in output value higher than the industrial average in the province; in combination, they contributed over 12% to economic growth. Meanwhile, chemicals, electric machinery and foodstuff industries realized profits triple that of the power industry."
Some general statistics for all of china, from the National Bureau of Statistics of China (link at end of quoted information below):
"The month-on-month growth rate of the total value added of the industrial enterprises above designated size from August 2011 to July 2012 was revised according to the results of automatic revision of seasonal adjustment model. The results and data in August 2012 is as follows:
Months....Growth Rate (%)
2011-August....0.85
September....1.00
October....0.75
November....0.73
December....0.96
2012-January....0.46
February....0.61
March....1.16
April....0.33
May....0.85
June....0.73
July....0.65
August....0.69"
http://www.stats.gov.cn/english/pressrelease/t20120911_402834922.htm
"Analysis on different types of enterprises showed that, in August, the year-on-year growth of the state-owned enterprises and state holding enterprises increased 5.3 percent, collective enterprises increased 6.6 percent, joint-stock enterprises climbed 10.4 percent, enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan province increased 5.0 percent.
In August, the year-on-year growth of heavy industry increased 9.0 percent, while the light industry was up by 8.6 percent.
Grouped by different sectors, in August, 40 industries within 41 industrial divisions kept year-on-year growth. Of this total, the growth of textile industry was 10.8 percent; the manufacture of raw chemical materials and chemical products, up by 10.5 percent; the manufacture of non-metallic mineral products, up by 10.5 percent; the ferrous metal smelting and pressing, up by 6.8 percent; the manufacture of general machinery, 7.9 percent; the manufacture of automobile industry, 9.7 percent; the manufacture of railways, shipbuilding, aerospace and other transportation equipment, 2.7 percent, the manufacture of electric machinery and equipment, 7.2 percent; the manufacture of communication equipment, computers and other electronic equipment, 9.9 percent; and the production and supply of electricity, gas and water, 3.8 percent."
Stockconsultant of course is purely based on charts, ignoring fundamentals or changes in the company earnings or acquisitions. Thanks for the link.
But it does confirm for a 1 month trend or an intermediate term trend that the chart is bullish (per the last two items below):
"1 DAY PRICE CHANGE -7, strong down (-0.06 pts, -3.4%) from yesterday's close.
SHORT TERM DIRECTION 9, extreme rally, expect rally to pause/stop.
OVERBOUGHT/SOLD 8, Overbought, odds favor short trades.
1 MONTH TREND 5, Up trend.
INTERMEDIATE TREND 10, bullish,
** Past 4 months Uptrend."
I tend to get preoccupied with examining the last 3 or 5 days price movement, so I took a step back and looked at the bigger picture over the last few months. Here's what the LPH chart for the last 6 months looks like for trending. Please comment and offer alternate opinions:
we are on a steady uptrend sawtooth pattern of higher lows that began at the lowest close of the year on 6/1 ($1.04), then higher low 6/12 ($1.10), 6/22 ($1.16), 7/31 ($1.23), 8/8 ($1.29), 8/24 ($1.38), 9/12 ($1.44). The 9/21 closing price of $1.21 was caused by an outlier, a single sell of a large block by an institution most likely, so it doesn't fit into the chart pattern as no other low priced sales preceeded or followed it. Next higher lows were 9/24 ($1.47), and then 9/26 ($1.49). Now we come to the date of the Huajie deal closing and the price took a quantum leap, which resets all of the chart metrics because it resets the presumed forward EPS by 25 percent (0.61 to 0.80 for TTM EPS by 6/30/2013). So right now I would expect the next higher low to be about 25% higher than $1.47 to $1.49, or roughly $1.85. But the effect of a reset in fundamentals takes the market a few days to several weeks to digest and adjust. The short-term memory right now is that LPH just bumped incrementally, which causes a damping effect for 3 to 10 days, then the uptrend should resume with the next baseline somewhere near the expected $1.80 to $1.85. The next sawtooth upwards after the market finishes reacting will then spike above $1.85. I expect the price to end up this year with a high of year around $2.15 and a low during December of around $1.90.
$LPH announces acquisition of 3rd oil storage facility: PR 9/27.
They closed a deal for a 100k metric ton storage facility (their third), which adds 80% to storage capacity and expands their geographic footprint. This brand new turnkey facility is completely operational and has a dedicated rail spur. Sales and management staff were already working on the ground for several weeks so that oil sales will begin from the new location within 2 weeks.
Currently their EPS TTM = 0.60, which will increase to $0.80 by 6/13 & to $1 by 12/13.
Auditors recently released a comprehensive reconciliation comparing LPH's Chinese SAIC tax filings versus SEC filings, covering the entire period from 2009 to 2012. The data were 100 percent consistent and prove their SEC earnings are accurate .
P/E is about 2.4 and may increase to 3.6 due to sentiment shift because the deal was done using only internal profits of the company and with ZERO dilution to shareholders. A FWD P/E target of 3.6 and a 2013 EPS target of $1 suggests LPH has 125% upside.
$LPH completes acquisition Huajie Petroleum: 100% upside
newsrelease 9/27: LPH closed a deal for a 100000 metric ton oil storage facility (their third), adding 80% to their capacity and expanding their geographic footprint. This facility is brand new and is a turnkey operation with a rail spur. Sales and management staff have been in place for several weeks so that oil sales will begin from the new location within 2 weeks.
Current TTM EPS is 0.60, will rise to $0.80 by June of 2013 and to $1.00 by December of 2013.
LPH auditors performed a comprehensive reconciliation in July comparing Chinese SAIC tax filings versus SEC filings, covering the entire period from 2009 to 2012, and proved earnings are accurate .
LPH's Forward P/E should rise from 2.4 currently, to 3.6 on this acqusition, which was done without any dilution to shareholders and on the back of a verification of accurate accounting. No other wholesaler of oil has a P/E this low.
Projecting a FWD P/E target = 3.6 and a 2013 EPS target = $1, LPH PPS has 100% upside.
$LPH completes acquisition Huajie Petroleum: 100% upside
newsrelease 9/27: LPH closed a deal for a 100000 metric ton oil storage facility (their third), adding 80% to their capacity and expanding their geographic footprint. This facility is brand new and is a turnkey operation with a rail spur. Sales and management staff have been in place for several weeks so that oil sales will begin from the new location within 2 weeks.
Current TTM EPS is 0.60, will rise to $0.80 by June of 2013 and to $1.00 by December of 2013.
LPH auditors performed a comprehensive reconciliation in July comparing Chinese SAIC tax filings versus SEC filings, covering the entire period from 2009 to 2012, and proved earnings are accurate .
LPH's Forward P/E should rise from 2.4 currently, to 3.6 on this acqusition, which was done without any dilution to shareholders and on the back of a verification of accurate accounting. No other wholesaler of oil has a P/E this low.
Projecting a FWD P/E target = 3.6 and a 2013 EPS target = $1, LPH PPS has 100% upside.
Looking at NUGT I'd say the bottom was in about 10am this morning.
Are you kidding Zester? There is no acquisition YET.
The market is just playing a game of "show me the money".
Until the real deal is signed, sealed, and delivered, the market is not treating the acquisition as a done deal or even as a high probability event. When the deal happens and shareholders are not diluted by a cash closing, forward P/E for FYE June 30 2013 goes from 0.61 to 0.80, and FWD P/E for calendar year 2013 goes even higher. In addition, the "made in China" uncertainty overhanging stock sentiment goes away because the question of "where did all the profits go?" is answered with clarity and shown to be put back into growing the company.
Yes, I retracted that statement...GlobeTrade started out with it and I just extended it.
I posted the stats of OS (101.7M) vs. preferreds (<1M) on YMB.
The concept of preventing dilution still holds - had the warrants been executed, sharecount WOULD HAVE BEEN diluted from 101.7M plus 11.5M, but within 30 days that will no longer be a future possibility.
$LPH: Correction to last item (no. 4):
From the 10K filed 9/13/12, LPHs' current fully diluted sharecount is 101.8M, with includes about 915,000 preferreds. There remain 11.5M warrants outstanding with a strike price of $2.255 left over from the October 29, 2009 financing of their previous (2nd facility) acquisition. These warrants will expire worthless in one month as of October 29, 2012 if the stock does not reach the strike price by then.
What matters is the EPS projections for LPH after the acquisition, and as of 6/30/12 TTM EPS was 0.65 (basic) and 0.61 (fully diluted), and this number is headed to a TTM EPS of 0.80 by FYE June 30, 2013, with a much larger increase for FY 2014. The capacity of the acquisition (their third facility) is 100,000 metric tons, which is an 80% increase over their current capacity of 120,000 metric tons.
$LPH: Correction to last item (no. 4):
From the 10K filed 9/13/12, LPHs' current fully diluted sharecount is 101.8M, with includes about 915,000 preferreds. There remain 11.5M warrants outstanding with a strike price of $2.255 left over from the October 29, 2009 financing of their previous (2nd facility) acquisition. These warrants will expire worthless in one month as of October 29, 2012 if the stock does not reach the strike price by then.
What matters is the EPS projections for LPH after the acquisition, and as of 6/30/12 TTM EPS was 0.65 (basic) and 0.61 (fully diluted), and this number is headed to a TTM EPS of 0.80 by FYE June 30, 2013, with a much larger increase for FY 2014. The capacity of the acquisition (their third facility) is 100,000 metric tons, which is an 80% increase over their current capacity of 120,000 metric tons.
Commodity play setup for this week: $LPH
LPH, an oil wholesaler with a P/E of 1.9 and who is about to acquire a third facility to expand their sales and capacity by 80%. LPH just issued on Monday September 24 an official PR news release that their $106 million deal for Huajie Petroleum is going to close within 7 days. LPH would not have issued this imminent announcement unless they were 100% certain, since otherwise they would basically be inviting the SEC to immediately open an investigation into false and misleading statements.
So what do we have in LPH?
1) A company on the cusp, within 6 days of closing an acquisition that represents a ready-to-roll, turnkey wholesale oil sales operation that increases their capacity by 80% within 1 year.
2) A company in China with a current P/E of 1.9, but which is one-of-a-kind in having just published an accounting reconciliation of their SAIC tax filings and SEC filings, demonstrating both transparency and legtimacy in their earnings statements
3) Without diluting shareholders one single share, managed to complete a $106M acquisition using only internal profits.
4) Only ONE MONTH away from having their prior acquisition stock warrants (from the 2009 Gujiao acquisition) expire worthless, thereby reducing diluted sharecount from 103M to 86M.
Commodity play setup for this week: $LPH
LPH, an oil wholesaler with a P/E of 1.9 and who is about to acquire a third facility to expand their sales and capacity by 80%. LPH just issued on Monday September 24 an official PR news release that their $106 million deal for Huajie Petroleum is going to close within 7 days. LPH would not have issued this imminent announcement unless they were 100% certain, since otherwise they would basically be inviting the SEC to immediately open an investigation into false and misleading statements.
So what do we have in LPH?
1) A company on the cusp, within 6 days of closing an acquisition that represents a ready-to-roll, turnkey wholesale oil sales operation that increases their capacity by 80% within 1 year.
2) A company in China with a current P/E of 1.9, but which is one-of-a-kind in having just published an accounting reconciliation of their SAIC tax filings and SEC filings, demonstrating both transparency and legtimacy in their earnings statements
3) Without diluting shareholders one single share, managed to complete a $106M acquisition using only internal profits.
4) Only ONE MONTH away from having their prior acquisition stock warrants (from the 2009 Gujiao acquisition) expire worthless, thereby reducing diluted sharecount from 103M to 86M.
$REGI US biodiesel producer. Market-moving news last Friday: EPA 2013 mandate announced requiring 1.3 billion gallons of biodiesel blending into diesel fuels, a 30% increase in the mandate from the 1 billion requirement for 2012.
From NASDAQ, REGI's latest 10Q shows $0.39 quarterly EPS w/out tax subsidies, suggesting a 12 mo. FWD EPS > $1.37. With a 30% increase in EPS in 2013 to be directly attributable to a proportionate increase in national blending quotas for biodiesel, expect an EPS of $1.79 in 2013. Post-election REGI will see a de-risked P/E, since industry renewable fuels mandates are likely to be extended and even increased for another 4 years.
Assuming a FWD P/E = 12 and a FWD EPS = $1.79, PPS = $21.50, about 350% upside from Friday's closing price of $6.11.
$REGI undervalued biodiesel. Biofuels on fire w. oil.
REGI an American company with rapid expansion and YoY profit growth.
$AERL: RCT down 40.8% YoY due to credit tightening.
http://topcasino777.com/asia-entertainment-resources-rolling-chip-turnover-down-40-8/
"HONG KONG — (PRESS RELEASE) — Asia Entertainment & Resources Ltd. (“AERL”) (NASDAQ: AERL), which operates through its subsidiaries and kin promoter companies as a VIP stead gaming promoter, today announced unaudited Rolling Chip Turnover (being of the kind which defined below) for the month of July 2012 at the body’s three VIP rooms in Macau was US$1.310 billion, from the top to the bottom of 40.8% year-over-year, compared to US$2.212 billion for the month of July 2012. This compares by a year-over-year increase in overall rude gaming revenue for Macau of 1.5% with respect to July 2012.
“Further policy easings by the Chinese government should allow AERL to go to normal credit policy in the close by future, which would lead to higher Rolling Chip Turnover for the time of the rest of the year.”
For the highest seven months of 2012, AERL’s Rolling Chip Turnover was US$11.377 billion (every average of $1.625 billion per month), up 7.1% year-transversely-year, compared to US$10.618 billion (one average of $1.517 billion for month) for the first seven months of 2011. Overall, Macau unrefined gaming revenue increased 16.8% notwithstanding the first seven months of 2012, during the time that Macau VIP revenue growth for the month of July 2012 is believed to have existence negative versus the same period in 2011.
The phthisis in Rolling Chip Turnover was inhering to several factors including a individual-time cash player that contributed within a little US$200 million in RCT in July 2011, five well stocked weekends in July 2011 versus July 2012, severe (typhoon and rainstorm) weather in Macau and Mainland China which affected visitations to our VIP rooms and the Company’s self-directed tightening of credit to agents directly to the slowing economy in China.
“Our July 2012 results were assumed by both external factors out of our control as well as our internal decision to tighten credit to agents, in the same manner with the slowdown in growth in China has caused us to subsist more prudent in extending credit,” before-mentioned AERL Chairman Lam. “Further policy easings through . the Chinese government should allow AERL to return to normal credit policy in the forthcoming future, which would lead to higher Rolling Chip Turnover for the period of the rest of the year.”"
$LYSCF: Lynas LAMP is 100% complete with construction and commissioning:
ASX official announcement:
http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=LYC&timeframe=D&period=W
Lynas LAMP is 100% complete with construction and commissioning:
ASX official announcement:
http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=LYC&timeframe=D&period=W
Lynas: Workin' the night shift downunder on HotCopper supporting the voice of reason and good science against the fear-mongering chinese propaganda of the SMSL against Lynas (on top of shorty who is trying to extrapolate fear in the sector on the heels of last week's Molycorp conference call and earnings miss).
The Malaysian govt dismissed a citizens appeal against a Lynas (LYSCF) rare earth plant, removing the main obstacle to start of production at the site.
A statement from the Science, Technology and Innovation Ministry, which considered the appeal, said there was "no strong justification nor scientific or technical basis" to set aside the temporary operating licence given to the plant in January.
The ministry told Lynas, the firm must submit plans to immobilise radioactive elements in the waste it will produce and come up with an emergency response plan on dust control.
"We already have the answers for the two new conditions," Mashal Ahmad, the plant's managing director told Reuters.
The Malaysian govt dismissed a citizens appeal against a Lynas (LYSCF) rare earth plant, removing the main obstacle to start of production at the site.
A statement from the Science, Technology and Innovation Ministry, which considered the appeal, said there was "no strong justification nor scientific or technical basis" to set aside the temporary operating licence given to the plant in January.
The ministry told Lynas, the firm must submit plans to immobilise radioactive elements in the waste it will produce and come up with an emergency response plan on dust control.
"We already have the answers for the two new conditions," Mashal Ahmad, the plant's managing director told Reuters.
The Malaysian govt dismissed a citizens appeal against a Lynas (LYSCF) rare earth plant, removing the main obstacle to start of production at the site.
A statement from the Science, Technology and Innovation Ministry, which considered the appeal, said there was "no strong justification nor scientific or technical basis" to set aside the temporary operating licence given to the plant in January.
The ministry told Lynas, the firm must submit plans to immobilise radioactive elements in the waste it will produce and come up with an emergency response plan on dust control.
"We already have the answers for the two new conditions," Mashal Ahmad, the plant's managing director told Reuters.