Financial Wire

Lynas Rare Earths Reports Higher Fiscal Q3 Gross Sales, Rare Earth Oxide Production

-- Lynas Rare Earths (ASX:LYC) said its fiscal third-quarter gross sales revenue increased to AU$265 million from AU$123 million a year earlier, while sales receipts advanced to AU$234 million from AU$124.6 million, according to a Tuesday filing with the Australian bourse.

The company also reported quarterly rare earth oxide production of 3,233 tonnes, up from 1,911 tonnes in the prior-year period, as it achieved first-time samarium oxide production ahead of target in March, per the filing.

The average selling price across all rare earth products during the fiscal third quarter was AU$84.60 per kilogram, in line with the prior quarter.

Lynas Rare Earths said its cash payments for capital expenditure, exploration and development totaled AU$32.6 million in the fiscal third quarter, compared with AU$71.3 million a year earlier.

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