SECTOR the current prices ,” said Lacaze . “ Lynas raised significant funding and accelerated construction of the LAMP facility in Malaysia seeking to take advantage of this boom .”
According to Lacaze , when the rare earths bubble burst in late 2011 , the company ’ s corporate structure and style of operations weren ’ t adjusted to the new market settings . In addition , ramp up of production at the LAMP facility was delayed by both operating challenges and legal challenges .
The result by the middle of last year was a business that had consumed a huge amount of debt and equity funding in developing both the mine and the larges processing plant , but was yet to show a return on that investment . “ When I joined , production was unstable . We had high costs and were very cash consumptive . We had to reset our cost base and improve our operating performance while dealing with a market that was significantly less profitable than before .”
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