This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

LYC - Lynas Rare Earths

Jump to new
TabJockey said:
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.
Click to expand...
Agree TJ, but feeling squeezed just the same. At least my SPP allocation is showing a profit
 
The rise today is certainly associated with a report giving a buy rating and a valuation of $4.37 discounted to $3.75 because of risk factors.
There is also cause in some circles to believe that the sale of the crown resources may not go ahead. Legal challenges to the sale at mates rates and the possibility of an alternative offer are in the wind.
 
ASX Anns - 11 May 2011
Lynas and Forge Terminate Agreements
Lynas Corporation Limited (“Lynas”) (ASX:LYC, OTC:LYSDY) refers to its announcements dated 16 March 2011, 28 March 2011 and 27 April 2011 setting out details of a proposed transaction with Forge Resources Limited (“Forge”).
Following receipt of the Forge proposal, Lynas established an Independent Board Committee (“IBC”) to consider all matters relevant to the proposal. The IBC appointed Grant Samuel to prepare an Independent Expert’s Report. Grant Samuel provided an opinion that the proposal was fair and reasonable to the shareholders of Lynas not associated with Forge or Mr Nicholas Curtis, in the absence of a superior proposal.

The Forge proposal was subject to satisfaction of a number of conditions, including approval of the transaction by shareholders of Lynas.

Extensive engagement with major shareholders seeking feedback on the proposal revealed a strong desire for Lynas at this time to focus on its core strategy of delivering its Rare Earth project in Western Australia and Malaysia. Following that feedback, Lynas consulted with Forge to negotiate a termination of the transaction agreements. The Board of Forge has agreed to do so and each party has released each other from liabilities and obligations under the transaction agreements.

In consideration of Forge’s agreement to terminate the transaction, Lynas will compensate Forge in the sum of $600,000 (plus GST) for partial re-imbursement of direct third party costs incurred by Forge in relation to the proposed transaction.

Lynas expects the first feed of ore into the Concentration Plant in Western Australia to commence within a week, and the first feed of concentrate into the kiln at the Lynas Advanced Materials Plant (LAMP) in Malaysia is scheduled for September 2011.
 

So i heard! great news! 1 less worry for us lynas stake holders! SP responding well this morning!
 
6figures said:
by good u mean .. -$0.450 (-47.9%)
??

u may be confused with forge group - FGE?

try FRG..
Click to expand...

Thanks for clearing that up for me.....

I was referring to the Forge deal falling over. Which is great news, now they just have to get rid of those protestors....
 
dazdingo said:
Thanks for clearing that up for me.....

I was referring to the Forge deal falling over. Which is great news, now they just have to get rid of those protestors....
Click to expand...


Frg - todays -46% says a lot about the influence the board's direction has on the share price
 
Great day today. Not only for Lynas but a triumph for the small shareholders over dubious actions of directors. This should serve to warn directors that they have to act in the interests of ALL shareholders. It also shows that if small shareholders band together they do have considerable power. Thanks should go to the Lynas shareholders action committee and the Australian Shareholders Association. I have been associated with this group and can appreciate how much was involved in bringing about this result. The job is not yet finished and the Shareholders Assn is being asked to do more. This is a test case that has benefits flowing on to all investors. It is in everyones interest to become a member and help financially support the organisation by firstly paying the small membership fee and possibly contributing to the legal fees we are confronted with to complete this job.

The group is asking ASA to coordinate the calling of a special general meeting of LYC in an effort to correct what we see as wayward behaviour. We need 100 shareholders to offer their names and addresses to the ASA as being shareholders asking for the meeting. They can be contacted by phone at 1300368448. You don't have to be a member for them to include you in the 100 signatures but membership is only $110 so why not be a member.:thankyou:
 
First post on these forums, I have been following the Lynas story very closely for a while now and am pleased with the outcome of the recent forge deal.

Just wanted to share a youtube channel I found today, it looks like it will be a good source of info in the future maybe, hopefully its updated regularly.

I think it shows a more factual point of view about the LAMP and Lynas (as you would expect) in contrast to the protestors and malaysian media, who seem to not completely understand what Lynas is about, and are most likely jumping to conclusions based on past and unrelated events. Hopefully this is correct and we can see LAMP given the go ahead ASAP!

http://www.youtube.com/user/LynasMalaysia#p/u

- Rob
 
Thanks Robbieg,

$130M pa spend, with the multipler $1.3B pa, 350 skilled jobs, 99% of them sourced locally. Malaysia placed at the centre of a regional downstream industry, drawing further investment to the country.

Compelling numbers for any government.
 
any more news on this guys?

I am keen to see how far the SP drops before i buy.. I am brand new at trading but wanted to buy $1k worth at a good price. maybe sub $1.90? am i being overzealous with the amount of volume? Or do you think it is achievable if this government doesn't give them the green light?
 

You will certainly buy them cheaper IF the government doesn't give them a green light. You will buy them cheaper if the bottom falls completely out of the rare earths business. Neither of these is likely to happen. The government will not hinder what will be a great boost for the Malyasian economy. I doubt they will get much cheaper. DYOR.
 
You must log in or register to reply here.

Similar threads

January 2025 DDD
5 6 7
Replies
129
Views
9K
divs4ever
February 2025
2 3 4
Replies
64
Views
6K
ducati916
Bill Shorten: High Flying Fake Or The Worker's Friend
Replies
5
Views
2K
Investoradam
Top of this cycle for ASX 200, cash is king?
3 4 5
Replies
80
Views
16K
kahuna1
N
Favourite Stocks for 2010
Replies
19
Views
11K
Sean K
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...