The restatements are largely shuffling of some numbers which we did not take full advantage of leaving us with a bit better bottom line. No concern for me and slightly more positive for Q3 earnings potential so I'm happy.
Like this part of the first release today.
The general markets for rare earth alloys have remained relatively healthy, albeit exhibiting a limited degree of impact from low rates of global economic growth. LCM notes that there has been a concentrated and potentially successful effort on the part of customers and researchers to reduce the use of Dysprosium, an element that remains in short supply globally, in many of these alloys. This has, in turn, led to renewed confidence on the part of customers in respect to the sustainability of the rare earth supply chain, notably for Neodymium, which remains the material of choice for the high performance permanent magnet market.
The recent softening of rare earth prices has also restored confidence levels on the part of LCM customers who have continued to express strong support for GWMG’s corporate vision to provide rare earth materials via a supply chain that is reliable, sustainable and free from political restriction.
The Company will conduct a tour of the LCM facilities for analysts and newsletter writers on Thursday, November 29, 2012.
You ONLY invite company like this into your house when it's READY for company