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Lynas Corporation Limited Message Board

  • muttonbuster666 muttonbuster666 Nov 13, 2011 4:32 PM Flag

    Someone Throw Curtis To A Pack Of Rabid Dingos

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    Lynas under fire for Malawi claim
    November 14, 2011

    http://www.smh.com.au/business/lynas-under-fire-for-malawi-claim-20111113-1ndrh.html

    IN AUGUST 2008, the high-flying Lynas Corporation offered to pay $US500,000 to a South African geologist, Michael Saner, if Saner would drop his claim over a rare earths deposit in Malawi.

    That's according to Saner. Citing a confidentiality agreement, Lynas has declined to comment.

    Lynas had already told the market that it had ''acquired'' this rare earths resource a year earlier, in September 2007.

    Fast forward three years. Although Saner never relinquished his claim, and has a Malawi High Court order stating the rights to this deposit cannot go to anybody else, it was only last Thursday that Lynas finally disclosed, and even then rather cryptically, that the ownership of its Malawi asset might be in dispute.

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