Lynas Rare Earth Limited (QAN)

Lynas Rare Earths Limited (LYC, formerly Lynas Corporation Limited ) is an integrated source of rare earths from mine to customer. Lynas has a portfolio of aligned assets to explore, develop, mine and process rare earth minerals. These assets are Mt Weld and Lynas Advanced Materials Plant (LAMP). LYC's main asset is Mt Weld rare earths deposit in Western Australia.

The Lynas Advanced Materials Plant (LAMP): The LAMP is located in the Gebeng Industrial Estate near Kuantan, Malaysia, close to the Kuantan deep-water port. The LAMP has been designed and built in two phases, with full Phase 2 capacity capable of producing up to 22,000tpa of separated REO products. Production from the Lynas Malaysia plant continued to grow reaching a total of 19,737 tonnes including 5898 tonnes of NdPr.

Mt Weld: The Mt Weld mine located 35km south of Laverton in WA. LYC has a concentration plant at operated at 100% of Phase 2 design capacity at Mt Weld. The resource estimate for the Central Lanthanide Deposit (CLD) is now 15.0Mt @ 8.8% REO. The Duncan Deposit, located immediately to the east and south of the CLD, contains 8.2Mt @ 4.7% REO. The Ore Reserves at the CLD, using a cut-off grades ranging from 4 to 7% depending on the type of ore, are 9.9Mt @ 10.8% REO for a total of 1.071 Mt of contained REO.

Malawi operations: Since fiscal year 2012, no further capital investment has been made on the Kangankunde Rare Earths ("KGK") resource development in Malawi and the project remains on hold

Rare Earths: Rare earth elements are relatively plentiful in the earth's crust, with cerium being the 25th most abundant element at 68 parts per million. This makes it as abundant as copper. Because of their geochemical properties, rare earth elements are typically dispersed. This means they are often found in concentrated enough clusters to make them viable to mine. It was the scarcity of these minerals that led to them being called rare earths. Rare earths are categorised into light elements and heavy elements. Minerals containing rare earths are currently produced in seven countries and regions including China, Russia, the US, Australia, India, Brazil, and Malaysia.

Both the CEO Ms Amanda Lacaze and the Chairman of the board Ms Kathleen Conlon have heard that Ratio analysis is a useful tool to compare Lynas Rare Earths present to its past performance and to the performance of its peers to provide a foundation for making forecasts of future performance.

file:///C:/Users/DELL/Downloads/Lynas%20Rare%20Earths%20Student%20presentation.pdf

Attached is the draft presentation. To clarify students participating in Mondays boardroom should firstly read the case study brief for the relevant case. This should be used to formulate your director questions regarding the topic. The expectations is that student directors would have done some preliminary work on investigating and thinking about the case questions in regards to their allocated company. You as directors should have some insight and questions about the case given you have commissioned the consulting group to come to present to the board on the topic. You can than look at the draft presentation prepared by the consulting groups which usually in the real world would be circulated with the board papers prior to the board meeting. These may consolidate your thoughts or raise further issues that you would like to question the consulting group on. You should not be formulating your questions of the directors based on student presentation alone.