One reason for the subdued share price of late could be concerns over the budget for the Malaysian plant.
As I understand it they have set aside around $230mil with a $26mill contingency. However they are yet to get an estimate from United on this (or haven't released it to the market yet). Given United groups history with chemical processing plants and cost blow outs- think Moranbah- the market could just be waiting for some guidance on this.
The fundamentals regarding rare earths are very compelling over the long run but with United group in charge of EPCM some investors are probably just a little bit wary at this stage. As more info becomes available on the progress in Malaysia I'd expect the sp to react accordingly.
I for one will be watching this stock very closely over the coming months.
why is lyc share price heading south, page-21
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Last
$6.15 |
Change
-0.100(1.60%) |
Mkt cap ! $5.748B | |||
| Open | High | Low | Value | Volume |
| $6.23 | $6.24 | $6.13 | $18.60M | 3.011M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 21239 | $6.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.16 | 9771 | 1 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$6.16 |
Change
-0.100 ( 1.94 %) |
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| Open | High | Low | Volume | ||
| $6.24 | $6.24 | $6.13 | 894887 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| LYC (ASX) Chart |