LYC - Lynas Rare Earths

[Logique]

Interesting pre-open this Monday morning, big bidders at 2.28, making it the indicative open price.

 

[Logique]

Just another shell game. Now 2.00.

ASX Ann. this morning, SPP applicants will get 828 shares at VWAP of 2.05, the balance refunded.

 

[6figures]

Just another shell game. Now 2.00.

ASX Ann. this morning, SPP applicants will get 828 shares at VWAP of 2.05, the balance refunded.

so that equtes to $1697.40...?

good news for SPP applicants at the rate the SP is going.

 

[nioka]

Interesting pre-open this Monday morning, big bidders at 2.28, making it the indicative open price.

Pity those "buys" were manilulative and withdrawn at the death. At least I filled the SPP order at less than the SPP price and added a few more for good luck. Lynas will sort out its problems of a weak board room and management that has taken its eye off the ball. Those things will be rectified and real values will be established. I'm certainly buying and not even considering selling any at this stage.

 

[Derrick]

the malaysian government has shelf the rare earth plant in Perak citing public health. looks like chances of the Lynas plant in Kuantan is pretty slim.

http://thestar.com.my/news/story.asp?file=/2011/4/29/nation/8577557&sec=nation

 

[RedLion22]

New York Times write up on Rare Earths and expected delay for Lynas to be up to 6 months

http://www.nytimes.com/2011/05/03/business/03rare.html?pagewanted=1&ref=global-home

Molycorp hitting all time highs tonight +8%

 

[nioka]

looks like chances of the Lynas plant in Kuantan is pretty slim.

Rubbish!

 

[Derrick]

from todays newspaper in malaysia. the authority said it will take at least 6mths, but our dear CEO said it will be ready by sept?? hmmm...

 

[nioka]

VIENNA May 3 (Reuters) - The U.N. nuclear agency will organise an expert panel to advise the government of Malaysia on the potential radiation risks of a rare earths facility planned by Australian miner Lynas (LYC.AX: Quote), the agency said on Tuesday.

The move comes after Malaysia asked the Vienna-based International Atomic Energy Agency (IAEA) for assistance in addressing public concerns about the project by forming an panel to review radiation heath and safety factors.

It reflects growing public pressure to scrap the plant as environmental activists say it could make Malaysia a dumping ground for radioactive by-products from the refining process, creating health risks.

"Through the IAEA Technical Cooperation Programme, the agency will support the international expert mission to review the Lynas project's compliance with relevant international safety standards and good practices and to provide an independent expert opinion on the radiological safety aspects of the Lynas Project," the IAEA said in a statement.

"This mission is scheduled to depart by May 29, 2011."

 

[TheAbyss]

the malaysian government has shelf the rare earth plant in Perak citing public health. looks like chances of the Lynas plant in Kuantan is pretty slim.

http://thestar.com.my/news/story.asp?file=/2011/4/29/nation/8577557&sec=nation

If you have a think about how asians do business you might read between the lines and wonder who will receive a few payments in order for htis whole saga to disappear up its own backside where it belongs.

 

[Derrick]

If you have a think about how asians do business you might read between the lines and wonder who will receive a few payments in order for htis whole saga to disappear up its own backside where it belongs.

can it be tht corrupted ?

 

[Miner]

If you have a think about how asians do business you might read between the lines and wonder who will receive a few payments in order for htis whole saga to disappear up its own backside where it belongs.

can it be tht corrupted ?

I believe some one who offers bribe to corrupt another person is also corrupt in the same way who accepts a corrupt.

It is ironically mostly the westerners who have been bribing people from Africa, Asia and other country with low earnings.

So let us not brand 'Asians' under corruption alone or to use the racial word loosely.
If it was not for China then our economy in Australia would have collapsed.

Can we discuss on the LYC issue than digressing the matter on Asians ?

No one born as corrupt it is the environment and circumstances some one as corrupt and once again please PLEASE do not bring country equation into discussion as a generalist statement.

If some one has read the weekly magazine issued with Financial Review on last Friday. Please do read the corruption issue with two high fliers for insider trading. One of them has gone to jail and one is eitehr enjoying a jail free card or waiting to happen.

Ironically the second person has some direct relationship with one of the top LYC executives who is not an Asian.


Thanks

 

[awg]

I posted #686 back in March, I thought the LAMP plant would be delayed, in any case.

Due to political agitation and failure to have operating approval etc.

I also posted a politician will do anything to get elected, including trashing the countries economic reputation, future tax revenues...whatever, so long as they get elected.

Witness the Green stupidity in Marrickville (try and ban all dealings with Israel connected coys).

On top of this, we now have delays in the finalisation of the WA processing plant, apparently due to their tailings dam being non-compliant.

Management eyes well & truely off the main game (hopefully only a few tho)

So my hoped for + catalysts are presently negatives.

Having said all that, I do believe they will suceed, or I would dump my stock.
I will not acquire anymore until an uptrend commences.

 

[Logique]

If you have a think about how asians do business you might read between the lines and wonder who will receive a few payments in order for htis whole saga to disappear up its own backside where it belongs.

To be honest it did cross my mind. I'm convinced the LAMP will go ahead, but we're doing business on their terms. They've got leverage and they're using it.

 

[6figures]

http://www.themalaysianinsider.com/malaysia/article/iaea-panel-to-advice-on-lynas-plant/


I thin kthe market reacted to this news today?? SP up slightly..

 

[TabJockey]

http://www.themalaysianinsider.com/malaysia/article/iaea-panel-to-advice-on-lynas-plant/


I thin kthe market reacted to this news today?? SP up slightly..

I think its just technicals, you can expect a general downtrend untill the plant gets approved. I dont even consider $2 low for the high risk state this project is currently in.

Maybe $1.60-$1.80 bottom.

 

[skyQuake]

GS initiated a buy on it $3.75 price target.

 

[TheAbyss]

GS initiated a buy on it $3.75 price target.

And the buggers will sell all the way to their target for their clients who have been loaded in at <$2.10 imo.

To those who questioned why i nominated Asians i was referring to how business is done. Having been involved with a few over there i can assure you it is standard fare to have to pay a little extra to have projects completed.

Miner, there are bribes and there are performance payments. Bribes was the wrong word for those with thin skins.

 

[TheAbyss]

http://www.themalaysianinsider.com/malaysia/article/iaea-panel-to-advice-on-lynas-plant/


I thin kthe market reacted to this news today?? SP up slightly..

Did you read somne of those comments beneath the article? Amzing stuff. They are labelling it a nuclear plant now. A lot of emotion which may indicate there will be a lot of passion into the protestations so no short term resolution i suspect.

 

[6figures]

Did you read somne of those comments beneath the article? Amzing stuff. They are labelling it a nuclear plant now. A lot of emotion which may indicate there will be a lot of passion into the protestations so no short term resolution i suspect.

yeh I did, it is amazing, they are very passionate about it ... if yo uhave a look at ALL the malaysian news pages almost all of them have comments from Malays along the lines of the below of this article..

Only time will tell..