LYC 1.30% $6.25 lynas rare earths limited

Thankyou everyone for these revealing discussions around the...

  1. 169 Posts.
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    Thankyou everyone for these revealing discussions around the campfire. It's time for me to add my own Lynas investing story. As a Chemical Engineer, my visits to China and other developing countries demonstrated to me that there wasn't any genuine interest in global warming (beyond Carbon Credits). Though I was in China wrt water processing, the daily issue was air quality. Every time I returned, there were less bicycles and more motor vehicles on the road, with increased congestoin and pollution. I became interested in plugin hybrid electric vehicles that run on petrol or electricity as an important technology for mitigating pollution in developing communities and also improving air quality in western cities. Unfortunately, battery technology was identified as an impediment to scaleup, due to limited supply of some rare earth elements.

    I did plenty of research on the potential sources of rare earth element production outside China. Two years ago, I identified Lynas as being the closest to production. I invested in small parcels ($15-30,000) and have been trading the ups and downs ever since. I sold out at about $1.50, came back at $1.10 and generally hold $50-200,000 worth. There have been highs and lows, but at present, I'm about even, maybe up a few thousand up.
    I don't know whether I am a ST trader or LT investor, but am enjoying the ride and proud to have invested in a company that is now producing REEs.

    Prices have stabilised over the last month due to shorting and the like. Recently learning about shorting, I was disappointed to learn that even as the company outlook becomes more stable, the current shorts will likely be settled off market and not increase share price. I have made my peace with this off market settling as it should at least reduce the overall holding of the institutions lending out their clients' shares and the hedge funds doing the short selling.
 
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Last
$6.25
Change
0.080(1.30%)
Mkt cap ! $5.841B
Open High Low Value Volume
$6.25 $6.26 $6.17 $15.83M 2.513M

Buyers (Bids)

No. Vol. Price($)
4 18985 $6.22
 

Sellers (Offers)

Price($) Vol. No.
$6.25 53073 5
View Market Depth
Last trade - 16.10pm 16/08/2024 (20 minute delay) ?
LYC (ASX) Chart
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