Lynas Corporation Limited
(ASX:LYC) says the latest Malaysian legal proceedings are not expected to impact its planned schedule to bring first feed to kiln next month.
The rare earths developer’s planned Malaysian refinery has been the target of strong opposition from the Save Malaysia Stop Lynas group who are seeking a court order to block maiden production.
Though Lynas scored the temporary operating licence to start production earlier this month the Save Malaysia Stop Lynas group will argue their case for an injunction next week.
Lynas has vowed to strongly assert the company’s case to operate in accordance with the licence at the hearing on October 4, 2012.
Lynas yesterday reported a full year net loss of $87.7 million for fiscal 2012, extending from a loss of $59 million the year before.
Shares Lynas dropped 8.09 per cent to close at $0.795 on Tuesday before the announcements were made.
