https://www.miningweekly.com

Lynas shares soar on production report

6th July 2016

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Shares in Australia-based rare earths producer Lynas surged 17% on Wednesday as the company reported that it had exceeded its production target of 3 840 t of neodymium-praseodymium (NdPr).

During the 12 months ended June 30, Lynas produced 3 911 t of NdPr.

As a result of exceeding its production targets, Lynas managed to reduce the interest rate under its Jare senior loan facility from 6.5% a year to 5.7% a year. The loan facility specified NdPr production targets for each six-month period from July 1, 2015, to December 31, 2017.

Lynas shares closed at A$0.07 apiece on Wednesday, up 17.24% from the previous day’s closing price. The company had a market capitalisation of A$237.21-million.

Lynas owns the Mt Weld mine, south of Laverton, in Western Australia, the Mt Weld concentration plant, near the mine site, and the Lynas Advanced Materials Plant, in Malaysia.

Edited by Creamer Media Reporter

Comments

Projects

Image of tin ore
Oropesa tin project, Spain
Updated 2 hours 30 minutes ago By: Sheila Barradas

Latest News

Resources Watch
Resources Watch
12th June 2024

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
12th June 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.185 0.22s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: