Morningstar research when they ceased coverage on LYC on 21 Sep 2007. SP on that day 44c.
The bit that stood out to me upon re-reading-
"Most recently LYC signed a US$200m REO supply contract over a five year period. Contracted sales cover neodymium and praseodymium. A minimum floor price has been set in the contract with no maximum price ceiling. The deal follows on the heels of a US$90m five year contract accounting for a significant portion of the cerium and heavier rare earths including europium and terbium. That contract included a floor and ceiling price for cerium and lanthanum. The lack of a ceiling in the recent contract could come in handy."
Wonder what the minimum floor prices are?
Basically after nearly 6 years, the SP is back (and then some) to where it was then. I would like to think the company is valued more now then they were back then?...
LYC Price at posting:
43.0¢ Sentiment: None Disclosure: Held
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