LYC: rare earth minerals the next big thing

[elZorro]

LYC must be in for a huge day today, temporary licence to operate has been approved (2 years). Morgan Stanley has increased its shareholding by a percent or so in the last few days, that would be many millions.

And I see I'm a few hours late, well done Stevo1..

[drillfix]

Now we need to keep an eye on the REE prices - hopefully they stop falling soon.

Taken from a report from some company who at present I cant remember:

REE Prices >> http://www.imageurlhost.com/images/0..._REEprices.png

[stevo1]

19% jump in SP to 159. CEO Nick Curtis on Bloomberg http://www.bloomberg.com/video/85453836/

It also appears that the shorters have 7.32% of LYC stock shorted
http://www.asic.gov.au/asic/asic.nsf...e?openDocument click on Quick link latest daily (CSV)
Could be a mad scramble to cover shorts

[tobo]

Well, I am sorry I was so unexcited!.
This kind of wrong I like. Tomorrow could continue up, or there might be enought profit takers to dampen it a bit, so even if it drops a bit tomorrow, I am sure it will continue up.

[geezy]

This is huge for LYC, allows refinement of REEs in Malaya
http://www.themalaysianinsider.com/m...kuantan-plant/
The comments that follow this article are a little bit concerning but I think the anti group have been primed and waiting.
For my part I believe that the plant will be safe otherwise I would not invest in it.Into production risk removed expect SP surge.
Interesting to note Morgan Stanley between 6 January till now have increased holding from 8.22% to 9.51% using borrowed shares and bloody BOTS grrrr

Maybe you would want to move and live next to the plant to prove that its safe?

[stevo1]

Maybe you would want to move and live next to the plant to prove that its safe?

Yeah OK geezy I will start packing ---any other brilliant suggestions?
if you own a computer,flat screen TV,energy efficient light bulbs,wind turbine produced electricity,hybrid car,cellphone.ipad,iphone etc etc you know that YOU are responsible for encouraging the evil REE production of LYC

[geezy]

Yeah OK geezy I will start packing ---any other brilliant suggestions?
if you own a computer,flat screen TV,energy efficient light bulbs,wind turbine produced electricity,hybrid car,cellphone.ipad,iphone etc etc you know that YOU are responsible for encouraging the evil REE production of LYC

Well to start of maybe LYC could keep their manufacturing right next to where they mine it. I m all for tech and improvement, just not in my home town if u know where i m coming from. Would be happy to live without as well

[stevo1]

Well to start of maybe LYC could keep their manufacturing right next to where they mine it. I m all for tech and improvement, just not in my home town if u know where i m coming from. Would be happy to live without as well

I see from your location you are in Dunedin NZ.I take it you are Malay living in NZ?This plant will bring a lot of spin off employement in Malaya that previous to LYC s ree production would NOT have happened .Companies were compelled to move ops to China to ensure supply continuity due to the restiction of exports of REE s out of China.These companies will be able to operate out of Malaya provided LYC comply with the stringent operating conditions of LAMP under AELB and Malay govt supervision.The reasons the LAMP was NOT built in WA was that construction costs and labour are cheaper in MAlaya,also LYC are CLOSE to suppliers of the chemicals required and gas supply.Malay Government encouraged LYC to produce there and have given the company a 12yr tax holiday.There has been a lot of misinformation and disinformation around this project.

[stevo1]

LYC sp has performed dimissally since the LAMP project has been turned into a political football creating doubts and obstacles.A perfect storm for the shorters and hedge funds to profit.If/when the lamp produces sp could go skyward in the meantime it seems anyones guess as to future sp.
A contrarian could think it was a time to buy.

[JBmurc]

operations in three weeks
By ONG HAN SEAN




KUANTAN: The Lynas rare earth refinery is ready to begin operations in three weeks, said managing director Datuk Mashal Ahmad.

He said that the first phase of the plant was 97% complete, and the only obstacle was the issuance of the temporary operating license by the Atomic Energy Licensing Board (AELB).

"The licence has been approved but we have yet to receive it. Lynas has already fulfilled all the conditions stipulated for the licence to be issued and we are just waiting.

"We hope it can be issued very soon because we need to start operations," Mashal told reporters at the plant in Gebeng here Tuesday.

He added that it would take one month just to import the rare earth and that it could not be brought into Malaysia without the licence.

Mashal also said the setting up of the parliamentary select committee to look into issues surrounding the plant was much welcomed.

"We are looking forward to be called up to give our explanations. The faster, the better," he said.

Also present at the press conference was Lynas Corporation president and chief operating officer Eric Noyrez.