Lynas Application For The Reuse of NUF Material Is Accepted By The Regulatory Authorities Of Malaysia

  • Oct 29, 2018 AEDT
  • Team Kalkine
Lynas Application For The Reuse of NUF Material Is Accepted By The Regulatory Authorities Of Malaysia

Lynas Corporation Limited (ASX: LYC, OTC: LYSDY) shares an update in regards to the solid residue known as NUF for which there was an ASX announcement made on 17 October 2018. Lynas had applied for the license for the management and disposal of NUF for its Lynas Malaysia plant. For its licensing process, the company has previously submitted an action plan for the same. As per the ASX announcement on 17 October 2018, company made notes based on the media reports and speculated its compliance with scheduled regulation of waste as well as the moderation plans based on the current reviews in Malaysia. NUF was found nontoxic substance for human, animals, vegetable and aquatic life in nature. The regulatory bodies at Malaysia had provided two alternatives for its scheduled waste regulations. Firstly, apply for the special management in order to reuse the waste material to improve the quality of environment. Secondly, dispose the material at a prescribed location. Being a lawful company, Lynas took forward its step to follow the policy laid down by the government of Malaysia to reuse the material for which it had applied and also received permission for the temporary storage. NUF has number of commercial uses, which includes construction industry, agriculture. Keeping all these in mind the company had submitted a number of proposals to the regulatory bodies of Malaysia in regard to the reuse of this material. 

Now the Malaysian regulatory bodies have confirmed the application of Lynas. Lynas is now stepping ahead to obtain other relevant document which will support the application which also includes assessment of environment impact and also the approval from the relevant authorities. By that time, Lynas has been granted permission to store NUF at its own premises at the Malaysia site.

For the quarter ended 30 September 2018, the company generated A$32.842 million. The company made payment worth A$9.122 million in order to acquire property, plant and equipment. Hence the net cash used in the investing activities was A$9.151 million. The company experienced an increase in the net cash and cash equivalent for the period of A$23.691 million. As a result of this, the net cash and cash equivalent at the end of period was A$65.820 million.

The company has shown a negative performance since its inception. The performance of the company remains -69.44% for the entire journey. The one year, 5 years and 10 years performance of the company is - 8.97%, -50.69% and -18.52%. The current market price of the share is A$1.8 (AEST 2:17 pm) with market capitalization of A$1.18 billion and PE ratio of 20.08x.  As per the chart, we see the moving average convergence and divergence line (MACD Line) is cut the line from the bottom on 25 October 2018 and is moving the upward direction.

In the leadership of the Amanda Lacaze, who is the CEO of Lynas, the company will be able to provide further documents following the license to the regulatory bodies of Malaysia. We can further expect that company flourish more as result of recycling and reusing the NUF into various sectors.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

 

 

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK