Lynas flags financing deal

Shares in rare earths miner Lynas Corporation have been placed in a trading halt pending an announcement on a financing transaction.

Lynas shares last traded at 16.5 cents.

The company made a net loss of $59.3 million in the last six months of 2013, down from a $56.6 million loss during the same period a year earlier.

The company operates the Mt Weld rare earths mine near Laverton and a rare earths processing plant in Malaysia.

Rare earth minerals are used in a range of hi-tech products, including telescopes, X-ray and MRI scanning devices.

The West Australian

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