Ahhhh some Good News!!!Lynas shares lift on production update...

Ahhhh some Good News!!!

Lynas shares lift on production update

Published 10:25 AM, 7 Jan 2013

Shares in Lynas Corporation Ltd lifted in early trade on news the group has commissioned the cracking and leaching rare earth extraction units units at its Lynas Advanced Materials Plant (LAMP) in Malaysia.

At the 1015 AEDT official market open, Lynas shares were 4.8 per cent higher at 65.5 cents, against a benchmark index rise of 0.54 per cent.

In earlier trade, Lynas hit as high as 66 cents.

In a statement to the Australian Securities Exchange, Lynas said the process involves the cracking of the concentrate through the kilns followed by the leaching circuit to produce a mixed rare earths sulphate.

"The mixed rare earths sulphate is now being fed into the solvent extraction units for ultimate production of individual rare earth products," the statement said.

"Lynas anticipates commercial rare earth products will be available in the next few weeks with ramp up of production to take place over the next three months."

Lynas executive chairman Nicholas Curtis said it was another significant milestone for the rare earths miner.

“The safe and efficient operation of the LAMP is now a reality, and we are providing real-time data that assures people the LAMP is entirely safe for our local communities and the environment," he said.

As a result of the cracking and leaching process, Lynas is now producing sufficient quantities of solids residues to start the production of synthetic gypsum and aggregate co-products, which will in turn provide the co-product samples for testing and market trials which are a necessary precursor for commercial off-take contracts.

Source:

http://www.businessspectator.com.au/bs.nsf/Article/Lynas-shares-lift-on-production-update-pd20130107-3PU56?OpenDocument&src=hp2&buffer_share=375ee&utm_source=buffer