Lynas Rare Earths Set to Raise A$750 Million in Equity Capital

Why Lynas, Mesoblast, PEXA, and Sayona Mining shares are tumbling today

The S&P/ASX 200 Index (ASX: XJO) is having a subdued finish to the week. In afternoon trade, the benchmark index is down a fraction to 8,977.3 points. Four ASX shares that are falling more than most today are listed below. Here's why they are dropping: Lynas Rare Earths Ltd (ASX: LYC) The Lynas share price is down 7% to $13.69. This morning, this rare earths producer announced its full year results and the completion of a $750 million placement.…

Rinehart-backed rare earths play drums up $750m ‘firepower’

Lynas Rare Earths has turned to private investors — including Gina Rinehart — for $750 million to refine more of the China-controlled commodity, as its plans to launch in the US come unstuck.

Lynas Rare Earths says $750m fundraising will boost deals ‘firepower’

Lynas will have a $900 million war chest to spend on growth as it tries to cement its position as the world’s premier supplier of rare earths outside China.

Lynas Rare Earths Set to Raise A$750 Million in Equity Capital

Lynas Rare Earths Ltd., the first commercial producer of so-called “heavy” rare earths outside China, is seeking to raise A$750 million ($488 million) in equity capital.

Lynas Rare Earths posts annual profit slump, launches $487 million capital raising - Regional Media News

(Reuters) -Australia’s Lynas Rare Earths reported a worse-than-feared full-year profit on Thursday, hurt by depreciation costs from its Kalgoorlie and Mt Weld facility expansion, and warned that its Texas heavy processing plant may not move forward. Separately, the miner announced an A$750 million ($487.35 million) equity raising to “pursue new growth opportunities”. Lynas, the world’s largest rare-earths producer outside China, said its net pro…

Lynas raises +$800m, flags US uncertainty

Lynas Rare Earths will raise as much as $815 million to accelerate its growth, as it pushes to capitalise on a growing appetite outside China for rare earth products.