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.


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