Lynas Rare Earths Limited (AU:LYC) has released an update.
Lynas Rare Earths Limited reported a challenging quarter with gross sales revenue and sales receipts dropping to A$101.2m and A$107.7m, respectively, amid low average NdPr prices. However, the company decided to retain inventory instead of selling in an unfavorable market, which has shown signs of price recovery in April. Concurrently, the Mt Weld Expansion Project is advancing on schedule and the Kalgoorlie facility’s commissioning continues, albeit with a revised capital cost estimate of A$800m.
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