Lynas Corporation Limited (ASX: LYC) has slipped to a new all-time low today with its shares dropping 0.5 cent, or 9.62%, to just 4.7 cents per unit.
Indeed, shareholders of the rare earths miner will likely be used to seeing their shares trading in the red by now, considering the stock has given up more than 84% of its value in the last 12 months. To make for an even more depressing case, the stock is down a whopping 98.3% since reaching $2.70 back in 2011.
Unfortunately for the miner – and indeed its shareholders – the miner’s costs are outweighing revenues, while its overall cash position is dwindling. Although the company released an optimistic operating update last month, highlighting improved revenues and lower costs, Lynas Corporation remains an extremely speculative prospect and investors would be best to steer clear.
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