Auditors to rare earths producer Lynas Corp flagged a material risk to its business today, after Lynas said it could not meet a timeline from Malaysian regulators to export a waste product before its operating licence comes up in September.
Auditors Ernst & Young drew attention to the note in a review report, saying: “These conditions indicate the existence of a material uncertainty that may cast significant doubt about the consolidated entity’s ability to continue as a going concern.”
https://www.freemalaysiatoday.com/…/lynas-auditor-flags-ma…/
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Lynas auditor flags ‘material’ risk over waste export timeline
Lynas Malaysia says exporting waste residue known as WLP within the timeline mandated by Malaysian regulators is 'unachievable'.
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