Lynas Corp. Ltd. (LYSCF)

[Mord]

From the latest Quarterly report just released:

Rare Earths prices continued to rise rapidly. The average quarterly price for the Mount Weld Rare Earths distribution increased by 83% over the quarter to US$62.18/kg REO. The price continued to increase after the end of the quarter and as at 21 January 2011 reached US$79.90/kg REO.

The signing of a Strategic Alliance Agreement with Sojitz Corporation (“Sojitz”), will enable, if implemented, Phase 2 construction to be committed by April 2011 with a scheduled construction completion date in the third quarter of 2012, expanding the capacity of the LAMP to 22,000 tonnes REO per annum.

Assuming success of the Sojitz transaction the Company has now allocated more than 70% of the total 22,000 REO tonne capacity from Phase 1 and Phase 2.

The appointment of Dr Ziggy Switkowski as a Non Executive Director of the Company, effective from 1 February 2011.
Dr Switkowski is...
* Chairman of the Australian Nuclear Science and Technology Organization (ANSTO)
* Chancellor-elect of the Royal Melbourne Institute of Technology (RMIT University)
* Non-executive director of Suncorp-Metway, Tabcorp Holdings and Oil Search
* Chairman of Opera Australia
* Former chief executive of Telstra Corporation
* Former chief executive of Optus
* Former Chairman of Kodak (Australia)
* A PhD in nuclear physics from the University of Melbourne
* A Fellow of the Australian Academy of Technological Sciences and Engineering
* A fellow of the Australian Institute of Company Directors.

Dr Switkowski said: "Lynas is on its way to becoming a globally significant supplier of Rare Earths, which are specialty materials of importance to many new and future devices and technologies. I look forward to helping Lynas succeed.”

Read it all here...
http://www.vision6.com.au/ch/22416/2dvbr87/1376945/302751550r.pdf

It's gonna be a good year...