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Lynas Corp 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 US$82 million.
Lynas Corp cash grows after 'unremarkable' quarter Lynas Corp cash grows after 'unremarkable' quarter Lynas Corp cash grows after 'unremarkable' quarter Lynas Corp cash grows after 'unremarkable' quarter Lynas Corp cash grows after 'unremarkable' quarter

It's a slow process but Lynas Corp is optimistic it'll be able to increase rare earth production out of Malaysia

Lynas said production was "managed" in line with the 2019 limit applied by the Malaysian government, with NdPr output of 1,242 tonnes (compared to the June quarter's 1,505t), and rare earth oxide output of  3,926t (versus 4,651t in the previous period).

Lynas is seeking approval from Malaysian authorities to increase production, and managing director Amanda Lacaze indicated on a conference call the company was 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.