Thorium pushed as uranium alternative
The foundation backs the more rapid development of a different
approach: liquid thorium fuel technology, which was pioneered by
the American nuclear physicist Alvin Weinberg in the 1960s.
Opportunities to capitalise on thorium are likely to exist for
the ASX-listed Lynas Corporation
and Iluka Resources.
Iluka is a mineral sands miner that ranks as the world's biggest
producer of zircon and many industry pundits believe its tenements
hold more thorium than any other Australian company.
Experts still confident Lynas will deliver
By Andrew Duffy on 7 November 2011
Deutsche Bank analyst Levi Spry says he is sticking to his “buy”
recommendation for Lynas Corporation despite its troubles in
Last week Lynas announced delays in the construction of the Lynas
Advanced Materials Plant and said it was unlikely first feed to
kiln would occur until early next year.
But Spry said the nature of the plant meant investors should have
expected some minor hiccups.
“Given the project complexity, further hold-ups are not
unexpected,” he said.
Spry said delays in obtaining an operating permit for the plant had
also pushed out his 2012 and 2013 production forecasts.
Lynas said last week its Mount Weld concentration plant was
performing ahead of expectations and its Malaysia plant
construction was 78 per cent complete at the end of the
Lynas stocks continue to be volatile in the short-term as the
company faces significant public opposition to its Malaysia
It’s share price plunged in late October following a statement by
the Malaysian Government that the company had not been given
permission to import ore.
But the statement was made in response to earlier incorrect claims
Lynas would be shipping ore by the end of October.
The company later slammed the rumours of October shipping as
Deutsche Bank said the only future problems for Lynas would be
risks production delays could see the company’s funds tighten up
around December 2012.
It said if the risk materialised it would have implications for the
company’s planned $264 million stage II expansion.