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Maybe a little lower still?

There's a handy little gap down to $1.09; and if the AUD keeps rallying towards parity and beyond, even the half-cent gap down at 97c could come into play. Be it as it may, for the moment I'm off LYC, and ARU too.



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I personally see LYC as having HUGE furture based on - I guess the fact that china has 95-97% REE of worlds active mines operating - they have shut the door on exports - may need to import themselves in the future - LYC has good size and high quality nof REE's - REE prices will only rise as resources not available from china now - USA yrs away from producing their own - Big Boys buying up large inresent weeks/days - they are not silly and the bottom line is they know a bargin - I was a holder of EXT and MIS and this share to me has the same ''feel'' to it - their is a gut feel that I simply can't ignore - do your own reserch - I am accumulating this one and am selling off 'losers to free up some dead $'$ - happy at todays buy $1.18




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Filter, I agree with your reasoning and also have some. I try to fight my gut feeling as it has been wrong before, preferring some more objective or rather, mathematical analysis. Clearly REE's are of the future and the extent to which that's the case is plainly speculative ATM. So $4 next year? Who can say? Just wanted to see why you opted on that price? I watched EXT go to $6. Sometimes these things just build momentum of their own irrespective of how much they have in the ground relative to price. I reckon that's where we are at right now so mad to be out but hopefully ever vigilant! Kelpie
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China denies Japan rare earth exports ban


Tension over arrest of a Chinese trawler captain escalates.



Last update 5:39 PM, 23 Sep 2010




NEW YORK - A Chinese trade official has denied a New York Times report that China had banned exports of rare earths to Japan following the arrest of a Chinese trawler captain near disputed islands.


At : http://www.businessspectator.com.au/bs.nsf...ent&src=hp8

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EXT rose to $12 and yes it has dropped off considerable, mind you the world has changed since it peaked at that price. In the case of MIS once they started shipping the price took off - the parrallel with LYC is they both have high grade resources in large quantities and they both are in high demand but LYC is in afar better position with REE copared to MIS with iron ore- why -because of what I pointed out on previous post. Sure there is over excitement and speculation that falsely drive up the price but as mentioned before this sector and this company in particular are hot and the future is huge. Me thinks it may even be a take over target sometime - why wouldnt be - especially to some US enterprize.

$4 was be no means a pediction but it woulnt surprise me - april it was 38c - last week $1.375 - it is by no means impossible.

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Lynas keen to leap into rare earths supply hole


The Australian September 27, 2010 12:00AM



RARE earths miner Lynas Corporation is set to benefit from industry talk that China is limiting its exports on the product.


The Australian-based company is bring forward ramp-up plans to meet new demand.


China has reportedly reduced exports of the minerals, used in the manufacture of a wide range of industrial products, to Japan, a move the Chinese government has denied.


Despite the denial by the economic powerhouse, the renewed focus on rare earths and China's dominance in the sector is a positive boost for Lynas and its Australian operations.


Lynas executive chairman Nicholas Curtis said he had heard it was difficult to get material to Japan. "The reality is there is no material available for export because the quotas have been used up as best we can tell," Mr Curtis told The Australian. Mr Curtis said the company, which increased the resources at its Mount Weld project this month, will make a push towards expansion plans as quickly as possible.


"We have already got plans to double our capacity and we're going to bring that plan forward and accelerate it as much as possible," he said. "And we have potentially more capacity as well, and if they find the market, we will deliver into that market.


"We are very confident we have the market to double our capacity, the question is whether we have the market to do more than that."


The world market outside of China has relied heavily on material that has come out of the Asian giant, which Mr Curtis said had at times been done through illegal means.


He said the Chinese government had cracked down heavily on illegal exports, which had also created a bit of a shortage.


"Part of the reason this crackdown is happening is they don't want to see their resources dissipated, and that is an indication there probably isn't as much material in China as the world has previously thought," he said.


"My own view, based on our studies, is it is possible China becomes a net importer of rare earths in the next five to 10 years."


JPMorgan analyst Alistair Reid said Lynas had a strong competitive advantage, given its position as a viable source of new non-Chinese supply of rare earths.


Interest in Lynas has been increasing, with Mr Curtis saying the company received regular calls, since it had to tap the market for funds after the Foreign Investment Review Board put the brakes on a strategic deal it had planned with China.


"It was a hard way to get here but we're happy with where we are," he said. "We have no debt and we are an independent company."'




At : http://www.theaustralian.com.au/business/l...x-1225929702643

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Lynas wins Japanese rare earths contract


Miner signs deal with unidentified company.


29 Sept 11:11 AM


By a staff reporter


Lynas Corporation Ltd has won a rare earths supply contract with an unidentified Japanese customer for an undisclosed amount.


In a statement to the Australian Securities Exchange (ASX), Lynas said the supply agreement is for lanthanides from its Mount Weld project, to be produced at its Lynas Advanced Materials Plant in Kuantan, Malaysia.


Lynas shares lifted on the news, gaining 2.64 per cent to $1.36 at 1109 AEST, against a benchmark index rise of 0.47 per cent.


Earlier this month, Lynas announced a substantial increase in its yield estimate for the Mount Weld site, and Canada's Byron Capital Markets put a $1.35 price target on the company.


The contract is for 11,000 tonnes of rare earth oxide a year, in Phase 1 production at LAMP, which is scheduled for the third quarter of 2011.


The China free-on-board market price will apply at the time of delivery, plus delivery costs from Kuantan to Japan.


The contract contains a clause allowing it to be extended on the agreement of both parties.


Lynas executive chairman Nicholas Curtis said progress in the construction of LAMP had enabled Lynas to re-engage with its customer base and move contract discussions forward.


"Customer interest has increased further since the export quota reduction announced mid-year and Lynas is able to provide support to the market with production in 2011," Mr Curtis said.


Mr Curtis said the company expects further announcements over the coming months, and is talking to potential customers in Europe, Japan and the US.



At : http://www.businessspectator.com.au/bs.nsf...ent&src=hp8

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