Lynas Corporation Limited (ASX:LYC) has confirmed it is on track to reach its annual output guidance after growing production in the third quarter.
The rare earths producer expects to hit a production rate of 11,000 tonnes per annum on a sustainable basis over its fourth quarter.
The company’s March quarter report revealed the miner’s production and sales increased to record levels, consistent with prior guidance.
Lynas has also forecast it expects to boost production by 20 per cent above its March record to about 700 tonnes in April.
Shares in Lynas Corporation last traded at $0.165 before entering into a trading halt yesterday pending a proposed financing transaction expected to be announced on or before tomorrow.
Lynas Corporation widened its net loss to $59.3 million in the first half of the 2014 financial year.
