Almost every minung report suggested that China would go into major surplus of RE, in 2023 as this was the first year in three, that Golden Week literally closed down the country for 10 days, as the ZERO COVID policy ended. The over supply of RE based on this factor alone had an impact on prices, as demonstrated in the 3 month chart of LYC vs REMX, which otherwise tracts each other much more closely.
The price action is impacted by supply/demand. This is obvious, but the danger is in the fear of a gap opening between our LAMP operations, and the opening of Kalgoorie. That issue is (IMO) valued at -AU$1.50 a share. Keep in mind that we are processing more oxide now we have flooding and LAMP closure problems behind us, so the lower RE price has an offset, that being continued uninterrupted processing.
LYC Price at posting:
$6.51 Sentiment: Hold Disclosure: Held
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