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Wildebeest is a PhD MBA who invests primarily in resource stocks such as base metals, iron ore and coal.
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  • Chinese bid for more Rare Earths blocked 0 comments
    Sep 24, 2009 8:39 AM | about stocks: LYSCF

    Australia's Foreign Investment Review Board (FIRB) have imposed conditions that have led to China Nonferrous Metal Mining to abandon its bid for a controlling stake and majority directors in Lynas Corp (OTCPK:LYSCF).

    The abandonment of the bid will presumably kill some of the trading activity that has seen Lynas shares triple since the bid became known.

    A week ago I had a quick look through the most recent Lynas presentation and jotted down a few thoughts here.

    While a back of the envelope examination of the numbers made the profitability look marginal, with China supposedly intending to restrict export of rare earths -- of which they currently produce over 90% of world supply--longer term prices should rise making the numbers look more attractive.

    Stocks: LYSCF
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