The Lynas Corporation Limited (ASX: LYC) share price is rising today despite the rare earths miner releasing no specific news to the market. For the quarter ending June 30, 2017, the company delivered $11.2 million in operating cash flows on revenues of $75.6 million.
As a former market darling the Lynas share price fell from a high around 89 cents in 2012 to just 5.5 cents in September 2016, with the stock up 10% to 17 cents per share today. Its growing cash flows are likely to be encouraging bargain-hunting speculators back into the stock.
Lynas is also now attempting to leverage the growing demand for lithium and magnetic rare earths metals due to the rise of lithium-ion battery powered electric cars such as those manufactured by Tesla.
The company's main mining operations are in Malaysia where initially it faced some environmental concerns and teething problems that held up operations, but it now appears to be full steam ahead. It also has a processing and administrative facility in Western Australia.
