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2026-11-06
◂ Monitor LYC ASX

Lynas Rare Earths Limited

Producer · Rare Earths · AU · MY · BR Rating locked: sign in to view v8 · lyc-20261024t160312-full
Last 2026-11-06
A$12.31
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$12.4B
EV
A$11.6B
Cash
A$504.1M
Debt
A$119.7M
1 newer ASX announcement not yet reflected in this valuation

Narrative and provenance

Research & Sources

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Chronological evidenceSource-document inventory19 documents
LYC latest eligible ASX ordinary closeMarket Data · MediumExtracted

Latest eligible local ASX ordinary close AUD11.67 on 13 October 2026; volume8520990; provider market data provider via miners.collect_stock_prices. Historical cutoff quote, not a live October24 quote.

Document ID
lyc_market_close
Published UTC
2026-10-13T05:00:00+00:00
Projects
—
Commodities
rare_earths
Open original source ↗
Lynas Rare Earths to Acquire Meteoric Resources PresentationTransaction · HighPartial

Conditional Meteoric acquisition, Caldeira DFS summaries, full resource/reserve tables and unsecured financing terms; material slides visually reviewed.

Document ID
lyc_meteoric_presentation
Published UTC
2026-09-30T22:39:23+00:00
Projects
caldeira
Commodities
rare_earths
Open original source ↗
Lynas Rare Earths to Acquire Meteoric ResourcesTransaction · HighPartial

October1 acquisition announcement and key SID terms; core announcement reviewed, legal annexes not represented as independently legally reviewed.

Document ID
lyc_meteoric_acquisition
Published UTC
2026-09-30T22:39:08+00:00
Projects
caldeira
Commodities
rare_earths
Open original source ↗
Proposed issue of securities - LYCTransaction · MediumExtracted

October1 proposed issue notice verifies exact conditional Meteoric shares and estimated March31 implementation.

Document ID
lyc_proposed_mei_issue
Published UTC
2026-09-30T22:39:43+00:00
Projects
caldeira
Commodities
rare_earths
Open original source ↗
2026 Annual General Meeting DetailsGovernance · MediumExtracted

Primary issuer release reviewed for material governance, licence or commercial terms.

Document ID
lyc_agm_details
Published UTC
2026-09-25T07:10:23+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Lynas Rare Earths FY26 Results PresentationResults · MediumPartial

FY2026 results presentation; material operating, financial, capacity and HRE capex slides reviewed.

Document ID
lyc_results_presentation_2026
Published UTC
2026-08-26T00:03:55+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Appendix 4E and 2026 Annual ReportResults · HighPartial

Audited FY2026 consolidated statements, operational review, management, resources/reserves, licence obligations and subsequent events. Material sections reviewed; not an exhaustive reading of sustainability and remuneration detail.

Document ID
lyc_annual_2026
Published UTC
2026-08-25T23:46:55+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Notification regarding unquoted securities - LYCGovernance · MediumExtracted

August6 Appendix3G verifies exact issued shares, rights and executed zero-coupon convertible notes.

Document ID
lyc_unquoted_august
Published UTC
2026-08-06T06:35:43+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Caldeira DFS Confirms Confidence in Project FundamentalsResults · HighPartial

Primary July2026 DFS: real Q12026 cost basis, post-tax NPV8 spotUSD847m/forecastUSD2721m, initialcapitalUSD498.4m,70%MREC payability and23year reserve-supported schedule. These study cases are not current spot quotes or Lynas owned production.

Document ID
lyc_caldeira_dfs_primary
Published UTC
2026-07-30T22:19:48+00:00
Projects
caldeira
Commodities
rare_earths
Open original source ↗
Lynas and LS Eco Energy Convertible Cross SubscriptionEconomic Arrangement · MediumExtracted

Reciprocal convertible subscriptions and announced metals-processing partnership.

Document ID
lyc_ls_cross_subscription
Published UTC
2026-07-26T22:26:39+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Quarterly Activities ReportOperations · HighExtracted

June2026 quarterly production, sales, cash and ramp commentary; all six pages reviewed.

Document ID
lyc_june_quarter_2026
Published UTC
2026-07-21T22:46:52+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Lynas and JS Link Partnership for Malaysian Magnet FactoryEconomic Arrangement · MediumExtracted

Definitive investment and rare earth supply arrangement with JS Link; approximate holding and escrow terms.

Document ID
lyc_js_link
Published UTC
2026-07-06T22:23:23+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Appointment of Interim Chief Executive OfficerGovernance · MediumExtracted

Primary issuer release reviewed for material governance, licence or commercial terms.

Document ID
lyc_interim_ceo
Published UTC
2026-06-04T07:42:57+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Quarterly Activities ReportOperations · MediumExtracted

March2026 quarterly production, sales, cash and arrangements; all eight pages reviewed.

Document ID
lyc_march_quarter_2026
Published UTC
2026-04-20T22:49:54+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Lynas and US DoW sign Letter of Intent for rare earth supplyEconomic Arrangement · MediumExtracted

Primary issuer release reviewed for material governance, licence or commercial terms.

Document ID
lyc_dow_loi
Published UTC
2026-03-15T21:52:23+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Enhanced JARE Agreement for Japanese IndustryEconomic Arrangement · HighExtracted

JARE long-term NdPr floor, firm/available volumes, capped upside participation and heavy rare earth supply.

Document ID
lyc_jare
Published UTC
2026-03-10T07:07:23+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Lynas Malaysia operating licence renewed for 10 yearsGovernance · MediumExtracted

Primary issuer release reviewed for material governance, licence or commercial terms.

Document ID
lyc_malaysia_licence
Published UTC
2026-03-01T21:32:35+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Half Yearly Report and AccountsResults · MediumPartial

FY2026 half-year unaudited financial statements; financial statements and audit review pages inspected.

Document ID
lyc_half_year_2026
Published UTC
2026-02-25T22:07:33+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
2024 Mineral Resource and Ore Reserve UpdateResults · HighPartial

Primary reserve chemistry and technical modifying factors: Table7 distinguishes NdPr grades from totalTREO, grade-dependent processing recovery,1.3Mtpa throughput, issuer reserve-life statements at7.2/12ktpaNdPr. It does not disclose a single universal netrecovery or resourceNdPr distribution.

Document ID
lyc_mtweld_reserve_2024
Published UTC
2024-08-04T22:18:43+00:00
Projects
mt_weld_integrated
Commodities
rare_earths
Open original source ↗
Evidence facts58
mei_initial_loanTranche 1 loan provided on SID execution

35000000 AUD

2026-10-01
mei_capexCaldeira DFS initial capital

498000000 USD

2026-10-01
mei_ndprCaldeira DFS annual average NdPr

3862 t/yr NdPr

2026-10-01
mei_resourceTotal Caldeira resource tonnes

1631000000 t

2026-10-01
mei_reserveTotal Caldeira reserve tonnes

151100000 t

2026-10-01
scheme_early_marchIndicative implementation early March2027

Early March 2027 None

2026-10-01
ebitda_fy26Company non-IFRS EBITDA

386000000 AUD

2026-08-26
hre_capexTotal revised HRE project budget including contingency

294000000 AUD

2026-08-26
future_capacityIllustrative potential NdPr capacity, expressly not a production target

12000 tpa NdPr

2026-08-26
cash_fy26Cash and cash equivalents

504128000 AUD

2026-06-30
deposits_fy26Short-term deposits

704971000 AUD

2026-06-30
revenue_fy26Revenue

977945000 AUD

2026-06-30
npat_fy26Net profit after tax

222352000 AUD

2026-06-30
ocf_fy26Operating cash flow

318810000 AUD

2026-06-30
capex_fy26PP&E and development cash payments

178268000 AUD

2026-06-30
rehab_fy26Restoration and rehabilitation provision

338805000 AUD

2026-06-30
inventory_fy26Inventories

240809000 AUD

2026-06-30
reserves_fy26Total reserve contained TREO

2010000 t

2026-06-30
resources_fy26Total resource contained TREO

4610000 t

2026-06-30
reo_fy26REO production

13089 t

2026-06-30
ndpr_fy26NdPr production

7260 t

2026-06-30
loan_faceJARE loan face AUD equivalent

130770000 AUD

2026-06-30
debt_fy26Borrowings current plus noncurrent

119681000 AUD

2026-06-30
leases_fy26Lease liabilities current plus noncurrent

218655000 AUD

2026-06-30
fcf_fy26Operating cash flow less PP&E development capex

140542000 AUD

2026-06-30
js_old_mouSubsequent-events note describes July2025 MOU

True None

2026-08-26
ls_investmentReciprocal convertible subscription

29000000 AUD

2026-07-27
q4_reoREO production June quarter

3481 t

2026-07-22
q4_ndprNdPr production June quarter

1857 t

2026-07-22
march_receipts_juneMarch receipts comparative in June chart

233000000 AUD

2026-07-22
js_investmentLynas investment approximately AUD50 million

50000000 AUD

2026-07-07
js_pctJS Link fully diluted interest approximately

4.58 %

2026-07-07
js_definitiveJuly2026 definitive investment and supply agreement

True None

2026-07-07
march_receiptsCash receipts March quarterly highlights

234000000 AUD

2026-04-21
floorFirm NdPr floor price

110 USD/kg NdPr

2026-03-10
floor_volumeFirm NdPr annual quantity

5000 tpa NdPr

2026-03-10
upside_shareShare of upside above USD150/kg

30 %

2026-03-10
upside_capCalendar-year upside payment cap

10000000 USD

2026-03-10
cash_h1Cash and cash equivalents Dec2025

745658000 AUD

2025-12-31
mei_new_sharesProposed conditional Meteoric share issue

63344637 shares

2026-10-01
scheme_end_marchCapital notice expected issue date

2027-03-31 None

2026-10-01
basic_sharesOrdinary shares on issue

1006502578 shares

2026-08-06
rightsPerformance rights

4045602 shares

2026-08-06
ls_notesConvertible note potential shares

1873386 shares

2026-08-06
fully_dilutedOrdinary plus all performance rights plus convertible notes

1012421566 shares

2026-08-06
reference_closeLatest eligible raw and adjusted ordinary close

11.67 AUD/share

2026-10-13
dfs_spot_npvStudy spot-deck post-tax NPV8

847000000.0 USD

2026-07-31
dfs_forecast_npvStudy forecast-deck post-tax NPV8

2721000000.0 USD

2026-07-31
dfs_payabilityMREC price payability

70 %

2026-07-31
dfs_capexInitial capital including contingency

498400000.0 USD

2026-07-31
dfs_ndpr_spotStudy spot-case NdPr average

129 USD/kg NdPr

2026-07-31
dfs_ndpr_forecastStudy forecast-case NdPr LOM average

159 USD/kg NdPr

2026-07-31
reserve_pr_ppm2024totalreservePr6O11grade

3250 ppm

2024-06-30
reserve_nd_ppm2024totalreserveNd2O3grade

11730 ppm

2024-06-30
concentrator_throughputExpandedconcentratororethroughput

1300000 t/year

2024-06-30
tailings_flotation_recoveryTailingslaboratoryREOflotationrecovery

50 %

2024-06-30
reserve_life_lowrateIssuerreserve-lifestatementat7200tpaNdPr

35 years

2024-06-30
reserve_life_highrateIssuerreserve-lifestatementat12000tpaNdPr

20 years

2024-06-30
Conflicts requiring judgment3
  • March customer receipts comparative

    Contemporaneous March highlight reports AUD234m; June graph comparative reports AUD233m while June highlights also say234m. Do not manufacture precision or use the comparative in model cash estimates.

  • JS Link arrangement status

    July7 2026 definitive release and annual operating review supersede stale July2025 MOU language in annual subsequent-events note.

  • Meteoric indicative implementation

    Latest capital notice estimates March31 versus presentation earlyMarch. Event uses March2027 window; both remain conditional.