Lynas cash grows after 'unremarkable' quarter

LYNAS Corp has delivered a self-described “unremarkable” quarter from its integrated Malaysian and Australian rare earth operations, though its cash position closed up a healthy looking 30% to A$119 million.
Lynas cash grows after 'unremarkable' quarter Lynas cash grows after 'unremarkable' quarter Lynas cash grows after 'unremarkable' quarter Lynas cash grows after 'unremarkable' quarter Lynas cash grows after 'unremarkable' quarter

It's a slow process but Lynas is optimistic it'll be able to increase production out of Malaysiauction

Lynas said production was "managed" in line with the 2019 limit applied by the Malaysian government, with NdPr output of 1242 tonnes (compared to the June quarter's 1505t), and rare earth oxide output of  3926t (versus 4651t in the previous period).

Lynas is seeking approval from Malaysian authorities to increase production, and MD Amanda Lacaze indicated on a conference call the company is optimistic such approval could be achieved by the end of the year.

Meanwhile, Lacaze said market conditions globally were "soft" and the NdPr price "flat" on the back of trade tensions.

Shares in Lynas were up 5% to $2.65 in midday trade, capitalising the company at $1.8 billion.

The stock is up about 50% on levels it was trading at this time last year.