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Short answer ... Welcome to the High Volatilty in Rare Earth Stocks.
I do not see any particular reason other than it might have gotten a little ahead of itself temporarily. I really do not follow it day to day anymore as it is a Core long term hold position and I am used to these moves.
SF
I can deal with the volatility, but for me to get the lowest commissions and be able to buy Lynas online, I have to buy the ADR which is 10 shares.
So, $26.00 down to $22.90 looks larger to me, than 2.60 to 2.29, which is the exact same thing. Right after the Japan earthquake I got in Lynas at 15.85. I may never see any entry point like that again. Who knows.
Jim Dines......remember him well from when I used to watch the Nightly Business report. I once owned Mine Finders. He loved that stock. I think it is over $15.00 today.
I can deal with the volatility, but for me to get the lowest commissions and be able to buy Lynas online, I have to buy the ADR which is 10 shares.
So, $26.00 down to $22.90 looks larger to me, than 2.60 to 2.29, which is the exact same thing. Right after the Japan earthquake I got in Lynas at 15.85. I may never see any entry point like that again. Who knows.
Jim Dines......remember him well from when I used to watch the Nightly Business report. I once owned Mine Finders. He loved that stock. I think it is over $15.00 today.
After a bit of research I did find and issue involving LYNAS.
I am leaving now but will post it later as soon as I have time.
After a bit of research I did find and issue involving LYNAS.
I am leaving now but will post it later as soon as I have time.
SF
HOWARD555,
Here is what I am refering to .....
Lynas is raising $230 million to build the world's largest Rare Earth Refinery in Maylaysia to employ over 2,000 constuction workers. Lynas will ship radioactive ore from its Mount Weld mine in Austaralia to Malayasia's port and claims its refinery would be able to meet around 1/3 of the Worlds demand(outside of China).
Trouble is, Maylaysia's last Rare Earth refinery run by Mitsubishi Chemical left behind ugly radioactive waste, so the public has understandably been resisting the New Facility.
Whether in fact Lynas would be able to produce, and how much, and when, is not entirely certain.
Kuantan residents of the "Save The Malaysia" movement are lobbying Parliament to block a plant there which would cost four times as much to build and operate comparably in Australia.
Mitsibishi moved its radioactive refining plant in Japan to Maylaysia where spent tin mines had radioactive slag - loaded with Thorium, but rich in Rare Earth Ore - Lynas Mount Weld ore is less radioactive but there is still no solution as to where the new plant is projected to get rid of its radioactive Thorium Waste.
I can deal with the volatility, but for me to get the lowest commissions and be able to buy Lynas online, I have to buy the ADR which is 10 shares.
So, $26.00 down to $22.90 looks larger to me, than 2.60 to 2.29, which is the exact same thing. Right after the Japan earthquake I got in Lynas at 15.85. I may never see any entry point like that again. Who knows.
Jim Dines......remember him well from when I used to watch the Nightly Business report. I once owned Mine Finders. He loved that stock. I think it is over $15.00 today.
If I might ask ....Why don't you buy Lynas on line other than ADR's ???
I buy and sell for $9.99 per trade any amount of shares and no penalty for Limit orders.
I'll watch that news story on the Malaysian plant.
It may be a temporary issue and negotiations get it done.
Yes I read your posts on buying the ADR's
Why can't you just buy Lynas online under the following USA symbol ?
"LYSCF" on the US Market pink Sheets over the counter.
Check with your brokerage/broker to find out, or just do a test run by placing an order to see if it takes it.
If you do that during after market hours you can place it, and then cancel it. That should tell you if you can place the order that way.
I am in the metals industry and have been for +30 years involved in the sales and purchasing of metals. Many of these stocks are what my late father would call "story stocks". Once the story gets around twice it's too late to get out. Take a look at the solar silicon stocks and you will see what I mean.
Yes I read your posts on buying the ADR's
Why can't you just buy Lynas online under the following USA symbol ?
"LYSCF" on the US Market pink Sheets over the counter.
Check with your brokerage/broker to find out, or just do a test run by placing an order to see if it takes it.
If you do that during after market hours you can place it, and then cancel it. That should tell you if you can place the order that way.
Thats how I place my orders.
SF
LYSDY is the symbol that gets me the lowest commission.
I was given 3 ways to buy it:
1. on the Australian market,
2. OTC, or
3. directly using the symbol above.
There is a $50 OTC fee, I'm told.
The symbol above lets me buy the ADR (10 shares per ADR) for $8.95.
LYSDY is the symbol that gets me the lowest commission.
I was given 3 ways to buy it:
1. on the Australian market,
2. OTC, or
3. directly using the symbol above.
There is a $50 OTC fee, I'm told.
The symbol above lets me buy the ADR (10 shares per ADR) for $8.95.
The reason I use TD Ameritrade is there are no hidden or extra charges to trade these 5 digit OTC stocks.
Some Brokerages choose to add more charges based on the Number of Shares or Limit orders or All or Non orders etc. etc.
Ameritrade does not do that.
I can buy Lynas or any other OTC stock online that has a 5 digit symbol for $9.99 period.
Keep your trading Simple.
Don't let these Scalpers get all these ridiculous charges from you.
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