LYC 3.43% $6.34 lynas rare earths limited

Ann: Quarterly Activities Report, page-2

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    • RECORD POSITIVE CASHFLOW: Cash flows from Operating and Investing activities increased to $11.6m. In addition to that amount, a further inflow of A$5.15m was received from the exercise of warrants by certain of the convertible bondholders.

    •  RECORD SALES: Invoiced sales increased to A$69.3m, up 6.6% from A$65.0m in the December quarter.

    •  RECORD PRODUCTION: NdPr production, at 1,373 tonnes, was above design rate for the quarter, up 3.2% from the previous quarter and an increase of 61.5% on the March 2016 quarter.

    •  STRONG MARKET POSITION: Lynas is now the second largest NdPr producer in the world. With no in-house downstream production, Lynas is the largest supplier of NdPr to the free market.

    •  IMPROVED MARKET DYNAMICS: Market demand for rare earths improved during the quarter, with the in-China market price for NdPr (VAT excluded) increasing from US$31 to US$34.

 
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