Absolutely.
I also think Northern Rare Earth Group will raise prices again in the short term. There's a current supply squeeze (from production cuts, stockpiling, and downstream re-supplying), but more importantly illegal mining is FINALLY being controlled. The Chinese government with the help of local officials are actively pursuing illegal miners (giving rewards to locals who tip them off) and people who are caught are actually being imprisoned (I hadn't read this until recently). This is reflected in recent rare earth prices and I'm confident they will continue to rise. I also don't see LYC retracing to 7.5 IMO.
Lynas waste for agricultural use., page-6
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Last
$6.05 |
Change
0.125(2.11%) |
Mkt cap ! $5.697B | |||
| Open | High | Low | Value | Volume |
| $6.02 | $6.12 | $5.97 | $8.809M | 1.456M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 30 | 26912 | $6.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.05 | 11199 | 40 |
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| Last trade - 15.23pm 09/08/2024 (20 minute delay) ? |
| LYC (ASX) Chart |