found this30/09/10 - 13:00Lynas Corp ? In a broker report from...

found this

30/09/10 - 13:00
Lynas Corp ? In a broker report from JP Morgan, it increased its target price for Lynas by 31.5% to $1.71 from $1.30 after the company announced an off-take agreement with "a major Japanese rare earths consumer". JPMorgan, Lynas' second-biggest shareholder, said "in its view, the stock has justifiably re-rated in line with significantly higher rare earth prices that reflect recent Chinese initiatives to consolidate domestic supply and restrict export supply?. The broker believes that the Japanese customer is major parts or automotive company and estimates the contract is 1,000 tons - 2,000 tons a year. It means more than 50% of Lynas?s phase one production is already covered by letters of intent or off-take agreements

http://www.igmarkets.com.au/cfd/market-update-20100930c.html