Although I have made some money in this stock with JP Morgan's insto initiation. The fundamentals now don't stack up.
The annual rare earths market is worth $1.5b with 95% of production coming out of China.
Lynas is capping at $3b today!!!
The company is yet to mine and process one kilogram.
After speaking with people in the rare earths industry, they said that the real nitty gritty is not in the mine resource but the costs of processing and separating the rare earth components.
We don't even know if their processing facility in Malaysia will work.
There seems to be plenty of people relying on technical analysis here, I wonder if they we the same ones who blew themselves up in the techboom.
I hope I'm wrong..
the fundamentals don't make sense
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Last
$5.91 |
Change
-0.150(2.48%) |
Mkt cap ! $5.547B | |||
| Open | High | Low | Value | Volume |
| $5.97 | $5.98 | $5.91 | $7.294M | 1.228M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 24 | 20112 | $5.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.92 | 29644 | 88 |
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| Last trade - 13.08pm 26/06/2024 (20 minute delay) ? |
| LYC (ASX) Chart |