LYC 0.26% $7.67 lynas rare earths limited

lynas defamation suit news.., page-13

  1. 10,589 Posts.
    lightbulb Created with Sketch. 389
    Article today - don't ask me it just caught my attention due to the other compounding issues with Lynas and if Lynas don't get production sorted soon regardless of reasons sp will fall further.


    Lynas shares sink after debt renegotiation with Sojitz

    by: David Winning
    From: Dow Jones Newswires
    September 26, 2012 11:33AM

    RARE earths explorer Lynas said that it had been forced to renegotiate its debt covenants with Japan's Sojitz after long-running protests delayed the start-up of its processing plant in Malaysia.

    The revised agreement with Sojitz postpones the measurement of some financial covenant tests by nine months, Lynas said in annual accounts out today. Sojitz agreed in March 2010 to loan $US225 million to Lynas in return for shares in Australian company and a supply of rare earths.

    At the time, Lynas said it expected the Malaysian plant to begin operating from the third quarter of 2011. However, its start-up has been delayed by protests involving local politicians and environmentalists who argue the facility poses risks from radioactive material.

    The Malaysian government awarded Lynas a two-year license to operate the plant earlier this month, but the protesters have now sought an injunction from Malaysia's Kuantan High Court to prevent it starting up. A hearing is due on October 4.
    FREE 28 Day Trial last Chance

    In its statement, Lynas said the hearing wouldn't disrupt its start-up plans, and that it remained on course for the first "feed to kiln" at the Kuantan plant after the hearing.

    Shares in the company fell 4.4 per cent to $0.76 in early trading, a three week low.
 
watchlist Created with Sketch. Add LYC (ASX) to my watchlist
(20min delay)
Last
$7.67
Change
-0.020(0.26%)
Mkt cap ! $7.169B
Open High Low Value Volume
$7.72 $7.94 $7.50 $23.53M 3.062M

Buyers (Bids)

No. Vol. Price($)
1 10000 $7.65
 

Sellers (Offers)

Price($) Vol. No.
$7.68 16724 2
View Market Depth
Last trade - 16.10pm 08/10/2024 (20 minute delay) ?
LYC (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.