ILUKA rare earths is hitting the Australian Federal government to assist with its Australian based refinery, blown out to an estimated $1.8B . At current ndpr prices the viability of taxpayer monies being spent to assist private enterprise looks unlikely to be the amount that Iluka require. With China tanking at an alarming rate and an expected drop in revenues form iron and coal exports I'd predict Australia throwing money at mining companies may be a big call. Looks like Lynas is well positioned compared to other starters. Pity Malaysia held back Lynas progress for those last few years. This China decline isn't looking pretty. I'm hoping China reduce RE output as domestic customer base and export shrinks and Lynas gets some real loving.
LYC Price at posting:
$5.94 Sentiment: Hold Disclosure: Held
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