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$6.98 lynas rare earths limited

According to the Lynas CEO the market reacted the opposite of what she had expected, page-2

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redbaron

2,124 Posts.

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20/04/21

22:11

Post #: 52605179
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Originally posted by AnneSid: ↑

Extract from an AFR article in which Lynas’ CEO says that this is not the first time the market has behaved the opposite of what she would expect it to.

Amanda Lacaze-led Lynas said China’s ramp-up was a sign the market would continue to grow after it reaped record prices for its rare earth products in the March quarter.

However, the Lynas share price plunged almost 8 per cent to $5.88 by late on Tuesday.

Ms Lacaze refused to speculate on whether the talk of China boosting production so substantially had spooked investors.

”This is not the first time that the market has behaved exactly opposite to the way I would have expected it to behave,” she said.

Lynas, the world’s biggest non-China producer, said demand from its customers had bounced back to match or surpass pre-COVID-19 levels and only shipping delays linked to the blockage of the Suez Canal in March prevented it achieving record quarterly sales revenue.

The company recorded sale revenue of $110 million for the March quarter, down from $119.4 million in the previous three months, on the back of an average selling price of $35.5 a kilogram across all rare earths materials.

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Market behaving....: Good news! Let’s take profit while it is hot!
GLAH

LYC Price at posting: $5.85 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $6.98		Change -0.175(2.45%)		Mkt cap ! $6.486B

Open	High	Low	Value	Volume
$7.14	$7.14	$6.93	$11.35M	1.623M

Buyers (Bids)

No.	Vol.	Price($)
22	16459	$6.97

Sellers (Offers)

Price($)	Vol.	No.
$6.98	10034	10

View Market Depth

No.	Vol.	Price($)
21	7282	6.940
22	26636	6.930
19	33754	6.920
15	19924	6.910
12	40073	6.900

Price($)	Vol.	No.
6.950	9941	25
6.960	24327	27
6.970	18410	21
6.980	12524	16
6.990	19137	11

Last trade - 14.20pm 19/11/2024 (20 minute delay)

LYC (ASX) Chart