Hi
With due respect to Victor I decided to create a new header. Rally, BTW comes from the original French, i.e. 'rallier' with means re-ally, re-assemble, get together again (after a rout or dispersion).
I don't think what happened to Lynas was a rout or dispersion. No matter what the techniques used, I prefer to call it consolidation.
I subscribe to a Rare Metal blog originating from the U.S.A. and get regular updates. Last Friday had the following news - and I paraphrase:
"China's Premier Wen Jiabao announced plans for a 5-year policy guideline for Rare Earths to 'arrive at a healthy foundation for the industry'.
Individual Chinese miners are going to create a Rare Earths Industry Association in May 2011 to obtain better pricing in the global market.
News of the rebuff by the AFIRB (Australian Foreign Investment Review Board) of China Non-Ferrous Metal Mining Company's bid for 51% of Lynas seems to have hit the world press only now - Bloomberg released the Minutes of Meeting (don't know which, AFIRB's or Lynas and CNFM's) just last week prompted by an applicant under the Freedom of Information rules.
Rare Earth shares rose on the Shanghai and Shenzen markets on Friday.
India, making its first entry into the Rare Earths Exporters' Club, is set to export 6000 tonnes of rare earth chloride to a Japanese company.
Avalon - a Canadian Rare Earths Explorer - after receiving a positive analyst report - went up more than 9% on the TO exchange last week but finished at $8.11 on Thursday. They hope to start production in 2015 and are aiming for 10 000 tonnes of HREEs per year - so far they have no mine, no plant, no infrastructure and no sales - they need Canadian $ 1.3 billion to build the plant."
Where does this leave Lynas? Undoubtedly it is in the frontrunner position; it remains only a matter of a few weeks before a re-rating has to occur!
I believe the Rare Earth market is getting increased attention and anomalies in the pricing of the various REE and HREE companies, as for example for Avalon, which has only got the resource, even though it is HREEs, but needs absolutely everything else, will seep into the consciousness of the market and Lynas will simply have to be re-rated; it is only a matter of time.
Patience!
Taurisk
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