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Main Forum•Lynas Corp (ASX:LYC) (NASDAQ: LYSCF) top twenty
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Following up from a remarkably dumb post on one of Australia's Top Stock forums where the poster adamantly stated that LYC was 50% Chinese owned.... I checked with the company.
Morgan Stanley Group – approx 10%
JP Morgan Group – approx 5%
Capital Group – approx 5%
The full list can be found here at http://www.lynascorp.com/content/upload/files/Reports/Annual_Report_2009_778195.pdfFor those not familiar with the Rare Earths and Australia's part please visit www.australianrareearths.com
Read quick summary of Lynas Corp http://www.australian-shares.com/mining/LYC
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JPMorgan has upgraded Lynas to “overweight” from “neutral” and increased its 12-month share price target to $2.17 from $1.71.
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Deutsche Bank gives 12% upside.
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Lynas Corp have gained approval by the Malawi Govt for the Kangankunde Rare Earths Resource in Malawi, Africa acquisition. This means that LYC now has two meaningful REE deposits on 2 continents.
The deposit has an Inferred Resource of 107,000 tonnes of Rare Earths Oxide (REO) at an average grade of 4.24% REO using a 3.5% REO cut-off grade. At a 3% REO cut-off grade the resource increases to 180,000 tonnes REO and remains open at depth.
This acquisition puts Lynas in a unique position in the Rare Earths industry outside China as the only Rare Earths mining and processing company to have two significant ore resources in different geographic regions. Both Rare Earths deposits possess important characteristics of economically viable Rare Earths resources, including;- Ability to produce a Rare Earths concentrate via pilot plant tested, low cost physical concentration processes (e.g. gravity or flotation processes).
- Inherently low thorium and uranium content thereby making it practical from an environmental perspective and allowing transportation of the concentrate.
The ability to source from two deposits inherently increases security of supply for our customer base and also will bring a certain degree of flexibility to the Rare Earths products produced and the ability to balance the market requirements by element more closely.
New Lynas Announcement - 22 December 2010
