|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||13.02 - 13.05|
|52 Week Range||10.03 - 19.61|
|Beta (3Y Monthly)||1.30|
|PE Ratio (TTM)||33.33|
|Forward Dividend & Yield||0.71 (5.63%)|
|1y Target Est||N/A|
Ken Brinsden of Pilbara Minerals weighs in on the potential deal between Wesfarmers and Kidman. He says there could be more "action" in this sector as companies try to resolve security of the supply of lithium.
The chief executive of Australian rare earth metals producer Lynas Corp said on Friday that feedback from the Malaysian government relating to its plans to move initial ore processes out of the Southeast Asian nation has been favourable. In a strategic growth plan to 2025 unveiled last Tuesday, Lynas said it intends to build an initial ore processing plant in Western Australia that would help it overcome political headwinds in Malaysia. The operating licence for Lynas' processing plant in the country, due for renewal in September, is under threat on concerns over waste disposal.
In a statement to Australia’s stock exchange early on Thursday, Melbourne-based Kidman said that conglomerate Wesfarmers had completed its exclusive period of due diligence on the proposed transaction. Wesfarmers will now acquire 100 per cent of Kidman’s share capital at a price of $1.90 per share in an all-cash deal. Kidman’s major asset is a 50 per cent interest in the MT Holland Lithium project in Western Australia, which it owns jointly with Chile’s SQM, one of the world’s largest lithium producers.
Rare earths producer Lynas Corp on Tuesday unveiled detailed expansion spending plans for A$500 million ($346 million) to boost production, placate Malaysian regulators and fend off a takeover attempt. Lynas laid out a strategic growth plan to 2025 that included building an initial ore processing plant in Western Australia that would help it overcome political headwinds in Malaysia where the operating licence for its processing plant, due for renewal in September, is under threat on concerns over waste disposal.
Rare earths producer Lynas Corp said on Monday it has signed a memorandum of understanding with Texas-based Blue Line Corp to set up a rare earths separation facility in the United States. The move comes as the United States, which is highly reliant on the world's biggest producer China for rare earths, is prioritising the sourcing of its own strategic minerals used in everything from consumer electronics to military equipment.
Wesfarmers Ltd's bid for Australia's Kidman Resources undervalues the lithium miner, analysts said on Friday, reflecting the financing difficulties the sector faces even as electric car makers warn of raw material shortages. Wesfarmers offered a 47 percent premium for Kidman, which is developing the Mount Holland project in Western Australia through a joint venture with battery chemicals maker Sociedad Quimica y Minera de Chile S.A. (SQM). Prospects for lithium demand look strong over the next decade as governments worldwide set ambitious targets to increase electric vehicle sales.
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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.
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 ...
Moody's Investors Service has today assigned a (P)A3 rating to BWP Trust's (BWP) senior unsecured AUD medium term note programme. At the same time, Moody's has assigned an A3 AUD senior unsecured rating to BWP's bond issued out of the programme. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
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.
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.