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Company News Summary

Lynas Corporation Provides Quarterly Activities Report

16 Apr 2018  |  08:40:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Quarterly Activities Report

Lynas Corporation provided quarterly activities report. The Group received A$79.7m in sales this quarter compared to A$116.5m in the December 2017 quarter. Total cash at 31 March 2018 of A$52.9m is fully unrestricted. The currency composition of the Group's cash at 31 March 2018 was A$4.8m, US$5.8m and MYR 119.9m. The Company's continued focus on financial and operating performance delivered good results in the March 2018 quarter, while progress was made on its NEXT initiatives which will support future growth. In addition, the balance sheet improved markedly during the quarter with the conversion of US$71.3m of convertible bonds, reducing the Convertible Bond facility to US$15.2m at 31 March 2018.

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