ASX Trading Halt News Lynas Corporation (LYC)

LYC ASX Lynas CorporationLynas Corporation (LYC) is involved in the exploration and development of rare earth minerals.

LYC owns the richest deposit of Rare Earths in the world at Mt Weld (Western Australia), 35km south of Laverton in Western Australia.

LYC was one of the hot stocks in 2010 after China took steps to curb its export of rare earths minerals.

Lynas remained in a trading halt yesterday after announcing a planned capital raising.

No details were given on the size of the capital raising, which will likely be used to boost production at its Mt Weld site.

LYC was also preparing to announce a strategic agreement but did not elaborate on the details.

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