The release of its quarterly cashflow and activities report puts rare earths miner Lynas Corporation Ltd (ASX: LYC) back in the black today after its share price has been stuck in reverse in the last six months.
The Lynas share price is up 0.7% to $1.59 at the time of writing, with the report showing the company is making ground operationally.
Cash flows from operating activities are up 57% on the June quarter to $32.8 million with sales revenue up 15.2% to $105.6 million as the company has leveraged off a strong demand for rare earths coming through from Japanese customers.
Lynas has battled some water supply issues at its Malaysian plant for the third time in 2018 during the quarter which may lead to reduced production in the December quarter and it will remain to be seen whether this continues to curb investor appetite in the stock.
Lynas has few ASX rivals in the rare earths space, with small caps Greenlands Minerals and Energy Limited (ASX: GGG) and Alkane Resources Limited (ASX: ALK) trailing well behind at present.
