The Lynas Corporation Ltd (ASX: LYC) share price is up 6% to $1.94 today and up 176% over the past year as the rare earths miners starts to finally deliver on its potential.
The WA and Malaysia-based miner has benefited from the price rise of its key mining product named NdPr (neodymium) that is a magnetic-type ingredient with a variety of industrial applications across the automotive and electronics sectors among others.
For the quarter ending September 30 2017, Lynas posted an operating cash profit of $13.3 million on revenues of $88.3 million and held cash in hand of $63.9 million. It also paid down some of its substantial debt pile to give investors renewed confidence that the risk / reward profile may be in their favour as the balance sheet deleverages and operating cash flows grow with rate earth prices.
Due to ongoing demand for NdPr, Lynas also has plans to lift production by 600 tonnes per month in 2019 and even recently took a leaf out of Donald Trump's book to attack what it called "fake news" critics of its business model.
