Lynas Corporation Limited
(ASX:LYC) says it reached new milestones in its journey to becoming a new source of Rare Earths supply.
The total cash at the end of December was $215.5 million. Lynas says that’s represented by unrestricted cash of $35.5 million, plus restricted cash of $180.2 million.
First feed to kiln and production for its Advanced Materials Plant in Malaysia is expected in the second quarter of this year. Lynas says this was delayed from the first quarter because of additional engineering requirements and consequential delays in procurement, as well as the recent monsoon season.
In the 2011 financial year Lynas Corporation booked a net loss of $59 million.
