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China kauft ein
Moskau sagt zu, Peking 20 Jahre lang Erdöl zu liefern und erhält dafür einen Kredit von 25 Milliarden Dollar (19,7 Milliarden Euro). Es ist das größte Energie-Kreditabkommen in der Geschichte der beiden Staaten.
http://www.sueddeutsche.de/358386/993/2763466/Russland-pakti…
Moskau sagt zu, Peking 20 Jahre lang Erdöl zu liefern und erhält dafür einen Kredit von 25 Milliarden Dollar (19,7 Milliarden Euro). Es ist das größte Energie-Kreditabkommen in der Geschichte der beiden Staaten.
http://www.sueddeutsche.de/358386/993/2763466/Russland-pakti…
LYC LYNAS CORPORATION LIMITED
February 2009
18th FGE: Mt Weld Rare Earths Project - Update
http://stocknessmonster.com/news-item?S=FGE&E=ASX&N=438272
February 2009
18th FGE: Mt Weld Rare Earths Project - Update
http://stocknessmonster.com/news-item?S=FGE&E=ASX&N=438272
Home » Materials/Industrials Stocks » Metal Miners, Alternative Energy
Lynas: A Risky Play in Rare Earth Metals
by: Jim Kingsdale February 17, 2009 | about stocks: LYSCF.PK
Jim Kingsdale
http://seekingalpha.com/article/120934-lynas-a-risky-play-in…
My recent post on “Battery Wars” was a broad overview of the ongoing global struggle to develop one or more cost-effective batteries to power a commercially viable electric or hybrid vehicle. Follow-on commentaries to that post have added more substance and I invite readers with knowledge to add their views on the viability of lithium-ion vs. current NiMH batteries - or any other alternatives.
Because lanthanum, a rare earth element, is essential to the NiMH battery, the business of mining of rare earth elements and related investments has become a sub-text of the battery investment question, as has the mining of lithium in the case of SQM, of course. In regard to REEs, I mentioned two Australian companies that are gearing up to mine REE’s, one of which, Lynas Corp., experienced a financial blowup last week that cut its stock price in half. Some readers have asked if Lynas is an attractive investment here.
To answer it, let’s first look at the industry. An excellent basic primer on REE’s was posted on Seeking Alpha recently. REEs are used in a wide variety of growth products and therefore should enjoy relatively robust demand going forward. From that piece, here is a table showing the industrial uses of REEs:
image
image
As the author notes, “REM [rare earth metals] are now especially important, and used extensively, in the defense industry. Some of their specific defense applications include: anti-missile defense, aircraft parts, communications systems, electronic countermeasures, jet engines, rockets, underwater mine detection, missile guidance systems and space-based satellite power.
USGS figures for 2006 indicate that the three main uses of REM in the U.S. were: automotive catalytic converters (25%), petroleum refining catalysts (22%) and metallurgical additives and alloys (20%).
Domestic demand in the U.S., as well as the demand for REM globally, remained strong in 2007, and have continued so in 2008. This has been true both for mixed rare earth compounds and the metals and their alloys. According to the USGS: “The trend is for a continued increase in the use of rare earths in many applications, especially automotive catalytic converters, permanent magnets, and rechargeable batteries.”"
Other indicators of the positive outlook for REEs include the fact that China, the dominant global supplier (90%) of REEs, is cutting back its export quotas in order to boost its domestic consumption.
Also, prices for REEs were strong in 2008, particularly for lanthanum, which rose from $6 to $13 per Kg. More pricing information is included in the post referenced above. I do not have recent months’ pricing, so I can’t comment on how the global slowdown has impacted REE pricing in the short term, although Lynas’ 2/10/09 press release said, “Both Rare Earths demand and prices remain robust and the project economics remain solid.” Over the intermediate to longer term, the supply and demand dynamics for REEs seem quite favorable.
Lynas Corp.
So, if the longer term supply/demand dynamics seem positive and the company is close to production, do we buy Lynas Corp. (LYSCF.PK) here? The question boils down to how serious their financing problems are.
As their press release indicates, bondholders are claiming that Lynas has failed to meet the preconditions required for releasing $95 million of that financing. The company says, “bolox.” An insightful discussion of their problem on the UK Fools web site details the matter and suggests the bondholders are offering phony objections aimed at getting better terms. Reading between the line of the press release you can see the same argument from the company.
The bondholders’ claim is likely based on technical, legal readings of the documents, not substantive realities. The financiers’ objective is to pressure Lynas to amend the price at which the bonds are convertible. The original price of U.S. $1.359 per share was negotiated before markets collapsed and is thus a long way out of the money from the roughly $0.20 price at which Lynas stock was trading before the announcement of a financing problem or the $0.10 current price. The press release suggests that a solution to this impasse is not close.
A number of alternative outcomes can easily be visualized. One would be the jettisoning of Lynas’ relationship with the bondholding firms and substituting new financial backer(s), probably one or more users of REEs. In that scenario Toyota (TM) or some other automotive or industrial user of REEs that wants to take a substantial equity position in Lynas would provide some amount of financing, after which Lynas would be free to pursue legal claims for damages against the bondholders without much further delay in the start up of its mining operations.
On the other hand Lynas is a small, start-up company operating in very choppy financial waters and the bondholders are some of the most renowned players in the global financial markets. It is likely Lynas wants to avoid a Sampson vs. Goliath fight that could poison the financial well for them for many years to come. So perhaps a more likely outcome is that Lynas will cave in to the bondholders and negotiate a lower convertible price and everyone will walk away with a smile on their face and a very bad ongoing relationship that could perhaps be improved with time. No doubt public shareholders would see substantial dilution and management would be issued new shares at lower prices to retain their original stake.
A third alternative is that the impasse could hobble the company for an extended time, possibly even requiring a huge refinancing at some point down the line that would virtually wipe out current stockholders.
My sense is that Lynas management is practical and canny. They will find a way to resolve the conflict in the near term at a cost that may be substantial but will not be totally destructive. I think they want to maintain the good will of the investing public and will work to that end.
But that’s simply a hunch. I have no direct information. What to do? I have, believe it or not, bought more shares recently at $0.10, but there is no guarantee that it won’t be “good money after bad.” It really is my most extreme form of gambling. If the situation works out, Lynas shares could be worth many multiples of the current price by year end. If not, they could well be worth nothing.
What makes me think the odds are decently in my favor is the long term outlook for REEs and the prominent position that Lynas’ Mt. Weld mineral deposits occupy in the global outlook for sufficient REE supplies over the next few years. Given that, my guess is that Lynas management will have some options for solving their problem in a manner that satisfies all parties - or at least allows the project to move forward.
Lynas: A Risky Play in Rare Earth Metals
by: Jim Kingsdale February 17, 2009 | about stocks: LYSCF.PK
Jim Kingsdale
http://seekingalpha.com/article/120934-lynas-a-risky-play-in…
My recent post on “Battery Wars” was a broad overview of the ongoing global struggle to develop one or more cost-effective batteries to power a commercially viable electric or hybrid vehicle. Follow-on commentaries to that post have added more substance and I invite readers with knowledge to add their views on the viability of lithium-ion vs. current NiMH batteries - or any other alternatives.
Because lanthanum, a rare earth element, is essential to the NiMH battery, the business of mining of rare earth elements and related investments has become a sub-text of the battery investment question, as has the mining of lithium in the case of SQM, of course. In regard to REEs, I mentioned two Australian companies that are gearing up to mine REE’s, one of which, Lynas Corp., experienced a financial blowup last week that cut its stock price in half. Some readers have asked if Lynas is an attractive investment here.
To answer it, let’s first look at the industry. An excellent basic primer on REE’s was posted on Seeking Alpha recently. REEs are used in a wide variety of growth products and therefore should enjoy relatively robust demand going forward. From that piece, here is a table showing the industrial uses of REEs:
image
image
As the author notes, “REM [rare earth metals] are now especially important, and used extensively, in the defense industry. Some of their specific defense applications include: anti-missile defense, aircraft parts, communications systems, electronic countermeasures, jet engines, rockets, underwater mine detection, missile guidance systems and space-based satellite power.
USGS figures for 2006 indicate that the three main uses of REM in the U.S. were: automotive catalytic converters (25%), petroleum refining catalysts (22%) and metallurgical additives and alloys (20%).
Domestic demand in the U.S., as well as the demand for REM globally, remained strong in 2007, and have continued so in 2008. This has been true both for mixed rare earth compounds and the metals and their alloys. According to the USGS: “The trend is for a continued increase in the use of rare earths in many applications, especially automotive catalytic converters, permanent magnets, and rechargeable batteries.”"
Other indicators of the positive outlook for REEs include the fact that China, the dominant global supplier (90%) of REEs, is cutting back its export quotas in order to boost its domestic consumption.
Also, prices for REEs were strong in 2008, particularly for lanthanum, which rose from $6 to $13 per Kg. More pricing information is included in the post referenced above. I do not have recent months’ pricing, so I can’t comment on how the global slowdown has impacted REE pricing in the short term, although Lynas’ 2/10/09 press release said, “Both Rare Earths demand and prices remain robust and the project economics remain solid.” Over the intermediate to longer term, the supply and demand dynamics for REEs seem quite favorable.
Lynas Corp.
So, if the longer term supply/demand dynamics seem positive and the company is close to production, do we buy Lynas Corp. (LYSCF.PK) here? The question boils down to how serious their financing problems are.
As their press release indicates, bondholders are claiming that Lynas has failed to meet the preconditions required for releasing $95 million of that financing. The company says, “bolox.” An insightful discussion of their problem on the UK Fools web site details the matter and suggests the bondholders are offering phony objections aimed at getting better terms. Reading between the line of the press release you can see the same argument from the company.
The bondholders’ claim is likely based on technical, legal readings of the documents, not substantive realities. The financiers’ objective is to pressure Lynas to amend the price at which the bonds are convertible. The original price of U.S. $1.359 per share was negotiated before markets collapsed and is thus a long way out of the money from the roughly $0.20 price at which Lynas stock was trading before the announcement of a financing problem or the $0.10 current price. The press release suggests that a solution to this impasse is not close.
A number of alternative outcomes can easily be visualized. One would be the jettisoning of Lynas’ relationship with the bondholding firms and substituting new financial backer(s), probably one or more users of REEs. In that scenario Toyota (TM) or some other automotive or industrial user of REEs that wants to take a substantial equity position in Lynas would provide some amount of financing, after which Lynas would be free to pursue legal claims for damages against the bondholders without much further delay in the start up of its mining operations.
On the other hand Lynas is a small, start-up company operating in very choppy financial waters and the bondholders are some of the most renowned players in the global financial markets. It is likely Lynas wants to avoid a Sampson vs. Goliath fight that could poison the financial well for them for many years to come. So perhaps a more likely outcome is that Lynas will cave in to the bondholders and negotiate a lower convertible price and everyone will walk away with a smile on their face and a very bad ongoing relationship that could perhaps be improved with time. No doubt public shareholders would see substantial dilution and management would be issued new shares at lower prices to retain their original stake.
A third alternative is that the impasse could hobble the company for an extended time, possibly even requiring a huge refinancing at some point down the line that would virtually wipe out current stockholders.
My sense is that Lynas management is practical and canny. They will find a way to resolve the conflict in the near term at a cost that may be substantial but will not be totally destructive. I think they want to maintain the good will of the investing public and will work to that end.
But that’s simply a hunch. I have no direct information. What to do? I have, believe it or not, bought more shares recently at $0.10, but there is no guarantee that it won’t be “good money after bad.” It really is my most extreme form of gambling. If the situation works out, Lynas shares could be worth many multiples of the current price by year end. If not, they could well be worth nothing.
What makes me think the odds are decently in my favor is the long term outlook for REEs and the prominent position that Lynas’ Mt. Weld mineral deposits occupy in the global outlook for sufficient REE supplies over the next few years. Given that, my guess is that Lynas management will have some options for solving their problem in a manner that satisfies all parties - or at least allows the project to move forward.
Bin mal gespannt wer der nächste Kandidat in Australien ist.
http://www.godmode-trader.de/front/index.php?p=news&idc=217&…
China kauft Bergwerke in Australien
Datum 17.02.2009
China wird den angeschlagenen und überschuldeten australischen Minenkonzern US-Dollar/Unze Minerals für 1,7 Milliarden US-Dollar aufkaufen, womit die Volksrepublik in den Besitz der Kupfer-, Zink- und Goldminen des Unternehmens kommt. Erst vor einer Woche kaufte China Aktiva von Rio Tinto. Das staatseigene China Minmetals Corp. Wird 82,5 cents pro OZ-Aktie kaufen, was 50 Prozent über dem letzten gehandelten Preis am 27. November lag.
China führt damit seine Strategie fort, von der Finanzkrise zu profitieren, indem es sich Rohstoffe weltweit von angeschlagenen und in Schieflage geratenen Unternehmen sichert.
Gruß JoJo
http://www.godmode-trader.de/front/index.php?p=news&idc=217&…
China kauft Bergwerke in Australien
Datum 17.02.2009
China wird den angeschlagenen und überschuldeten australischen Minenkonzern US-Dollar/Unze Minerals für 1,7 Milliarden US-Dollar aufkaufen, womit die Volksrepublik in den Besitz der Kupfer-, Zink- und Goldminen des Unternehmens kommt. Erst vor einer Woche kaufte China Aktiva von Rio Tinto. Das staatseigene China Minmetals Corp. Wird 82,5 cents pro OZ-Aktie kaufen, was 50 Prozent über dem letzten gehandelten Preis am 27. November lag.
China führt damit seine Strategie fort, von der Finanzkrise zu profitieren, indem es sich Rohstoffe weltweit von angeschlagenen und in Schieflage geratenen Unternehmen sichert.
Gruß JoJo
Trading Spotlight
China Rare Earth Industry Report, 2008
http://www.researchinchina.com/Htmls/Report/2009/5637.html
Rare earth is widely applied in the high-tech industries, such as information, biology, new materials, new energy, space and ocean.
China’s rare earth ranks the No.1 in total reserves, production scale, as well as export volume in the world. However, China also pays for enormous cost of resource, energy and environment. China’s rare earth products shared 90% of global market, but without price fixing right.
The development of rare earth resource in china is having three major wastes: (1) low resource utilization; (2) low product value; (3) low application efficiency. The low cost rare earth products from China had droved the fast development of global high-technologies, however, China didn’t gain the corresponding benefits.
China is the only country supplying rare earth products with different grades and varieties. According to the National Development and Reform Commission, China's annual smelting and separating capacity of rare earth exceeded 200,000 tons in 2008, more than double the world's annual demand.
In order to protect rare earth resources effectively, Chinese government implemented rare earth export quota management since 1998. During 2005 to 2009, the export quota quantity maintained a downward trend. In January 2009, the quantity of general trader qualified with rare earth export quota, which was announced by the Ministry of Commerce, decreased to 20, with a total export quota at 15,043 tons.
Gruß JoJo
http://www.researchinchina.com/Htmls/Report/2009/5637.html
Rare earth is widely applied in the high-tech industries, such as information, biology, new materials, new energy, space and ocean.
China’s rare earth ranks the No.1 in total reserves, production scale, as well as export volume in the world. However, China also pays for enormous cost of resource, energy and environment. China’s rare earth products shared 90% of global market, but without price fixing right.
The development of rare earth resource in china is having three major wastes: (1) low resource utilization; (2) low product value; (3) low application efficiency. The low cost rare earth products from China had droved the fast development of global high-technologies, however, China didn’t gain the corresponding benefits.
China is the only country supplying rare earth products with different grades and varieties. According to the National Development and Reform Commission, China's annual smelting and separating capacity of rare earth exceeded 200,000 tons in 2008, more than double the world's annual demand.
In order to protect rare earth resources effectively, Chinese government implemented rare earth export quota management since 1998. During 2005 to 2009, the export quota quantity maintained a downward trend. In January 2009, the quantity of general trader qualified with rare earth export quota, which was announced by the Ministry of Commerce, decreased to 20, with a total export quota at 15,043 tons.
Gruß JoJo
Antwort auf Beitrag Nr.: 36.582.330 von CaptainBizeps am 15.02.09 14:40:51ernestokg meinte ich, jetzt versau ich den Thread hier auch noch 
Antwort auf Beitrag Nr.: 36.562.420 von ernestokg am 12.02.09 07:28:23Deine Postings führe ich auf deinen Frust über die Kursverluste zurück die durch die weltweite Finanz- und Wirtschaftskrise alle Explorer im vergangenem Jahr hart getroffen hat und Lynas nochmals in dieser Woche durch den Ausfall der Wandelanleihe.
Den habe ich auch!
Der Kursvelust hat m.E. am wenigstem mit der Faktenlage zu tun.
Wenn du dich schlau machen willst schau doch einfach mal auf die ersten Seiten hier im Tread oder schau auf den Parallel Thread: LYNAS - auf dem Weg zu einem Rohstoffproduzent von Hightech-Rohstoffen LYNAS - auf dem Weg zu einem Rohstoffproduzent von Hightech-Rohstoffen hier wird die Lage von Lynas vermehrt unter den unterschiedlichsten Blickwinkel besprochen...
oder schau auf der Homepage von Lynas u.a. auch auf den folgenden Seiten nach: http://www.lynascorp.com/
Auf dem folgendem Link/Seite einfach mal alle Links anklicken:
http://www.lynascorp.com/page.asp?category_id=2&page_id=39
oder schau dir u.a. auch mal die QUARTERLY REPORT
FOR THE PERIOD ENDING 31 DECEMBER 2008 von Lynas an
http://www.lynascorp.com/content/upload/files/Quaterly_Repor…
Grüsse JoJo
Den habe ich auch!
Der Kursvelust hat m.E. am wenigstem mit der Faktenlage zu tun.
Wenn du dich schlau machen willst schau doch einfach mal auf die ersten Seiten hier im Tread oder schau auf den Parallel Thread: LYNAS - auf dem Weg zu einem Rohstoffproduzent von Hightech-Rohstoffen LYNAS - auf dem Weg zu einem Rohstoffproduzent von Hightech-Rohstoffen hier wird die Lage von Lynas vermehrt unter den unterschiedlichsten Blickwinkel besprochen...
oder schau auf der Homepage von Lynas u.a. auch auf den folgenden Seiten nach: http://www.lynascorp.com/
Auf dem folgendem Link/Seite einfach mal alle Links anklicken:
http://www.lynascorp.com/page.asp?category_id=2&page_id=39
oder schau dir u.a. auch mal die QUARTERLY REPORT
FOR THE PERIOD ENDING 31 DECEMBER 2008 von Lynas an
http://www.lynascorp.com/content/upload/files/Quaterly_Repor…
Grüsse JoJo
Antwort auf Beitrag Nr.: 36.561.297 von ernestokg am 11.02.09 21:23:41Muß mich nach wenigen Stunden schon korrigieren. Nach dem heutigen Kursrutsch sind fast 70 % der Marktkapitalisierung durch die Barmittel abgedeckt !
Der heutige Kursrutsch ist zweifelsohne auf das Lynas Management zurückzuführen,da man keine vernünftige Öffentlichkeitsarbeit leisted !
Der heutige Kursrutsch ist zweifelsohne auf das Lynas Management zurückzuführen,da man keine vernünftige Öffentlichkeitsarbeit leisted !
Durchsuchen
23.01.24 · kapitalerhoehungen.de · BASF |
22.01.24 · wallstreetONLINE Redaktion · Lynas Rare Earths |
08.08.23 · nebenwerte ONLINE · Lynas Rare Earths |
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09.05.23 · ESG Aktien · Lynas Rare Earths |
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