PEK gets a mention as a spec buy last paragraph:
Rare earths
THE year hasn't expired yet, but rare earths must rate as the runaway commodities story of 2010. The penny dropped after the Chinese imposed export quotas.
Having run hard, our main rare earth plays have taken a breather over the past month. But Lynas Corp (LYC, $1.40) is still valued at $2.3bn. Overbaked? Perhaps. But Lynas plans to commission its Mount Weld concentration plant by February next year and its Malaysian refining plant by September, with envisaged output of 22,000 tonnes by 2013. At current margins, this implies EBIT in the hundreds of millions.
Arafura (ARU, $1.09) yesterday said it had entered environmental impact stage for its planned Whyalla processing complex. We'll risk spec buys on both stocks.
At the less evolved end, Shaw Stockbroking likes Peak Resources (PEK, 43c) whose 80 per cent Ngualla project in western Tanzania is prospective for rare earths, niobium and phosphate. We can't resist a three-in-one deal and also ascribe a spec buy.
http://www.theaustralian.com.au/business/opinion/david-jones-djs-467-myer-holdings-myr-379-woolworths-wow-2774/story-e6frg9if-1225955954138
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3 | 51025 | 0.195 |
2 | 38000 | 0.190 |
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