There is a huge geopolitical issue here. Russia, North Korea and China have plenty of rare earth and they will use that as leverage over the US and the West. This is why the US panicked and wants to invest in Australian rare earth. LYC will benefit so much from this political situation. LYNAS is investing so heavily in setting up ore processing plants together with partners. This is a growing company and it will grow rapidly in the next 3 years. We should look beyond the current share price slump. When it goes up and forces short covering, it will be pretty violent like what it did in the past. It is still a bit of a speculative play but this is exactly why when it goes up, it is pretty crazy. I see a lower shorting volume yesterday. It is building support to move up further by the look of it. It was negative in the morning but positive at the end of today. Hopefully, it will be back to 8+ by Aug. When the plan in Kalgoorlie goes online it will be really good. There is a fear that the opening of this plant will be delayed and it will hurt the share price. However, I feel that the share price has been hurt. This would just prevent it from going up for a while.
LYC Price at posting:
$6.77 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)