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$6.40 lynas rare earths limited

Wesfarmers good riddance, page-3

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13/06/19

14:44

Post #: 39042473
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Originally posted by No_8: ↑

Not the way Mining News has reported the strategy day:

Extract from Mining News:

"Last month, the Perth-based conglomerate formalised the A$776 million acquisition of Kidman Resources.
Wesfarmers managing director Rob Scott told the company's strategy day today that while the lithium market remained uncertain, Kidman and SQM's cost position would ensure a strong position.
"Our expertise tells us if you can be an incredibly low-cost provider, we'll be well-positioned to generate returns," he said.
Scott noted share price volatility among lithium companies, with share prices regularly moving "wildly".
"There's lots of speculation around price and this has been amplified by the ongoing trade war," he said.

"Wesfarmers is not a speculative investor, but we are happy to put our balance sheet to work where we see value."
Wesfarmers made a non-binding A$2.25 takeover proposal for Lynas Corporation in March, which at the time represented a 45% premium to Lynas's previous closing price.
Lynas rejected the proposal and its shares have since jumped to $2.84 over concerns about rare earths supply as the US-China trade war intensifies.
"Our interest in the company and the acquisition rationale hasn't really changed since the first announcement," Scott said.
Scott noted there was still some uncertainty around Lynas' Malaysian operations.
"We'll wait to hear what comes of that," he said.
"Once the speculation has settled down and there's clarity on price … I think that will help people take a view on price."
Shares in Wesfarmers dropped 3.7% to $36.85."

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Thanks for that additional info. Interesting that what Scott is reported as saying in the Mining News is not reported as him saying it today in The Australian. He has said the same thing before, so wonder if that is what Mining News is referring to or whether he actually said it again today. Anyhow, with the US Joint Venture looking likely, it would not make any sense to do anything with Wesfarmers, they really have nothing to offer Lynas now. JMHO, DYOR.

LYC Price at posting: $2.80 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $6.40		Change 0.000(0.00%)		Mkt cap ! $5.982B

Open	High	Low	Value	Volume
$6.47	$6.48	$6.34	$20.28M	3.161M

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No.	Vol.	Price($)
1	12848	$6.39

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Price($)	Vol.	No.
$6.40	17965	2

View Market Depth

No.	Vol.	Price($)
3	3600	6.360
1	15000	6.350
2	260	6.340
3	4563	6.330
4	8665	6.310

Price($)	Vol.	No.
6.400	10000	1
6.410	24000	1
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6.450	3291	2
6.480	2100	2

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Wesfarmers good riddance, page-3

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