|Bid||2.2200 x 0|
|Ask||1.8900 x 0|
|Day's Range||2.0100 - 2.0550|
|52 Week Range||1.4800 - 2.9600|
|Beta (3Y Monthly)||0.54|
|PE Ratio (TTM)||69.66|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.38|
Output of rare earths oxides (REO) in the quarter ending March 31 was 5,444 tonnes, compared with 4,110 tonnes produced lasta year. Production of NdPr, or neodymium-praseodymium, rose 19.4 percent to 1,591 tonnes, a new quarterly record, said Lynas, the world's only major producer of rare earths outside China. Lynas added that in a move to combat continued weakness in market prices, it would reserve all NdPr product for its strategic business partners, which could lead to a build-up in inventory in the fourth quarter.
April 10 (Reuters) - Lynas Corporation Ltd: * BOARD CONCLUDED THAT IT WOULD NOT ENGAGE WITH WESFARMERS ON TERMS OUTLINED IN PROPOSAL * SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION IN RELATION TO INDICATIVE ...
Rare earths miner Lynas Corp said on Wednesday its board had concluded it would not engage with conglomerate Wesfarmers, stating its takeover offer undervalues the company's intellectual property. "Lynas has developed significant intellectual property (IP) in engineering, processing and product development. This IP is valuable in its own right, and its value is not reflected in the Indicative Proposal from Wesfarmers," the company said in a statement.
Malaysian environmental groups and Lynas Corp workers held rival demonstrations in Kuala Lumpur on Wednesday over concerns about radioactive waste from the company's rare earths processing plant in the country. Some 200 protesters from more than 60 environment and civic groups called on Malaysia to suspend Lynas's operating licence and to ensure it removes "toxic waste" from the country, according to a copy of the letter reviewed by Reuters.
Malaysian environmental and civic groups called on the government on Wednesday to suspend a rare earths processing plant operated in the country by Australia's Lynas Corp over concerns about toxic waste. More than 200 protestors rallied outside parliament in Kuala Lumpur before handing over a letter that called on Malaysia to suspend Lynas's operating licence and to ensure it removes "toxic waste" from the country, according to a copy of the letter reviewed by Reuters.
April 9 (Reuters) - Lynas Corporation Ltd: * UPDATE ON GROWTH PLANS * AT THIS TIME, NO DECISIONS HAVE BEEN MADE, HOWEVER EVENTS OF PAST FEW WEEKS MEAN WE ARE ACCELERATING THIS WORK * PREFERENCE HAS ALWAYS ...
An initial offer of A$1.5 billion (£818 million) by the retail-to-chemicals conglomerate was previously rebuffed by Lynas' board, which termed the deal "highly conditional". "Wesfarmers remains open to engage with the Lynas Board on our proposal, with a view to progressing a less conditional proposal," Managing Director Rob Scott said in a statement. Wesfarmers' initial bid was subject to a range of conditions, including that Lynas has relevant operating licences in Malaysia for a "satisfactory period" following the close of the deal.
April 9 (Reuters) - Wesfarmers Ltd: * WESFARMERS REMAINS OPEN TO ENGAGE WITH LYNAS BOARD ON OUR PROPOSAL * OPEN TO ENGAGE WITH LYNAS ON PROPOSAL, WITH A VIEW TO PROGRESSING A LESS CONDITIONAL PROPOSAL ...
Rare earths miner Lynas Corp said on Monday it is considering initial ore processing near its Australian mine, as Malaysia stepped up pressure on the company already in the midst of a takeover struggle. Lynas, the world's only major producer of rare earths outside China, has been locked in a dispute with the Southeast Asian nation, which has told it to remove years of accumulated waste at its Malaysian processing plant in order to have its licence renewed.
April 8 (Reuters) - Lynas Corporation Ltd: * MALAYSIAN REGULATORY UPDATE * LYNAS IS SEEKING CLARIFICATION FROM MALAYSIAN GOVERNMENT REGARDING RECENT COMMENTS * WE SEE VALUE IN OPERATING ALTERNATIVE CRACKING ...
April 8 (Reuters) - Australian rare-earths miner Lynas Corp said on Monday that it was considering initial ore processing close to its Australia mine, as regulatory hurdles facing its Malaysian processing ...
New suitors may emerge for Australian rare-earths processing company Lynas Corp, which may lose the operating license for its processing plant in Malaysia, the country's prime minister said on Friday. Lynas last week rejected a $1.1 billion takeover offer from Australian conglomerate Wesfarmers Ltd, though Wesfarmers said they remain keen on the talks. Lynas operates an $800 million plant in the Malaysian town of Kuantan that refines ore from a rare-earths mine that it owns in Australia.
Other companies may be in the running to buy Australian rare-earths processing company Lynas Corp, which may lose the operating license for its processing plant in Malaysia, the country's Prime Minister said on Friday. Lynas operates an $800 million plant in the Malaysian town of Kuantan that refines ore from a rare-earths mine that it owns in Australia. Malaysia has recently halted the renewal of its operating license over concerns about how it handles radioactive wastes at the site.
MELBOURNE/SYDNEY, March 29 (Reuters) - Australia's Wesfarmers Ltd remains keen on buyout talks with rare earths miner Lynas Corp Ltd, the retail-to-chemicals conglomerate said on Friday, despite its A$1.4 billion ($992 million) approach being rejected earlier this week. The comments foreshadow an intense takeover battle for the only proven producer of rare earth elements outside China, which has struggled with support from Malaysian regulators for a key processing plant located there. "We remain keen to work collaboratively with the Lynas board and management team as well as the Malaysian government and regulatory authorities to secure a long-term and sustainable outcome for all stakeholders," Wesfarmers Chief Executive Officer Rob Scott said in an emailed statement.
Australia's Lynas Corp Ltd on Wednesday said it would not engage with conglomerate Wesfarmers on its "highly conditional" $1.1 billion takeover approach for the only proven producer of rare earth elements outside China. The rejection came a day after Wesfarmers launched a bid of A$2.25 per Lynas share, which represented a near 45 percent premium to the rare earths miner's Monday's close. Lynas shares closed 35.1 percent higher on Tuesday, falling short of the offer price.
March 27 (Reuters) - Lynas Corporation Ltd: * BOARD CONCLUDED THAT IT WILL NOT ENGAGE WITH WESFARMERS ON TERMS OUTLINED IN INDICATIVE AND HIGHLY CONDITIONAL PROPOSAL * LYNAS BOARD HAS EVALUATED INDICATIVE ...
Australia's Wesfarmers Ltd made a surprise $1.1 billion offer on Tuesday for rare earths miner Lynas Corp Ltd, looking for new growth after a series of asset sales, but its shares fell as investors fretted about increased risk.
For most of the past five years, a slump in the rare-earths market and a regulatory tangle in Malaysia, where Lynas processes its Australian-mined ore, has seen it worth less than a third as much. A transaction will be subject to “ensuring that relevant operating licences in Malaysia are in force and will remain in force for a satisfactory period following completion of the transaction”, the company said Tuesday. Fair enough, you might say – but if those licenses were in place, Wesfarmers’ offer would look a good deal less generous.