Baotou Steel (larges producer of rare earth) have just announced to extend their production stop by another month to the Shanghai Stock exchange. All mines in inner Mongolia stay closed. On the 23rd of Oct Baotou Steel had already announced to close temporary all processing plants, even the once in the eastern province of Jianxi. This shows how desperate they are to keep the price from falling any further. Some critics complain the only reason behind those moves are to strengthen their own monopoly. Hey, it's just playing into LYC's hands . . . This puts a floor under current prices. Let's get to fire the plant up full steam ahead a.s.s.p & get the cash flooding in. About time long suffering shareholders get some return on their investment.
LYC Price at posting:
57.5¢ Sentiment: ST Buy Disclosure: Held
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