What a great day combo and whilst I am not a trader I agree that today is the start of antiher break out.
The quotas being pulled back with all the threats and lobbying now shows the world that china will not turn on the tap no matter what.
This means that lyc has the potential to put billions in the bank before any new production comes on board.
Say in 2012 11000 tons at $70/kg profit is 770m
Say in 2013 22000 tons at 70kg profit is.1.54bill
So first mover advantage gives them a bonus of 2bill plus cash before any new production from anywhere apart from molycorp restarting in 2013.
This alone adds $1plus per share to lyc.
Long term at $40 to $50kg values lyc at $4 according to jp Morgan.
So the potential to see $5 is very realistic by this time next year IMHO.
Good luck to all lyc holders.
bullish breakout my next target is $2.89..., page-2
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Last
$7.61 |
Change
-0.100(1.30%) |
Mkt cap ! $7.113B | |||
| Open | High | Low | Value | Volume |
| $7.65 | $7.65 | $7.49 | $13.50M | 1.778M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10000 | $7.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.61 | 6808 | 1 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| LYC (ASX) Chart |