Lynas (LYC) $2.28 as at 21/05/2019
The rare earths miner is holding an investor day today and has surged on positive comments out of the presentation deck.
Today the stock is trading over 15% higher as the company presented its plans out until 2025 which includes a huge $500m investment across the business. The investment will include a new upstream processing plant to the company’s WA mine to remove any radioactivity, while also increasing capacity at downstream processing facilities.
The plan negates the major battle the company was facing with Malaysian authorities in ceasing the accumulation of radioactive waste in the country and has eased market concerns the company would be forced to cease operations in Malaysia.
The company reiterated it had the support of its major lender JARE, and confirmed licence renewal application is progressing on a normal timeline.
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