Australia's Lynas Rare Earths drops on lower quarterly revenue, production
Updates share moves, adds UBS comments
** Shares of Lynas Rare Earths LYC.AX fall as much as 2.9% to A$5.88, their lowest level since April 11
** The rare-earths miner says sales revenue in Q4 was A$136.6 mln ($90.73 mln), below A$157.5 mln a year earlier and missed UBS estimate of A$168 mln
** Co posts more than 50% plunge in total rare-earths oxide (REO) output for the quarter to 2,188 REO tons
** First ship of mixed rare-earths carbonate from Kalgoorlie sees continued derisking of Kalgoorlie but questions remain on sulfuric acid supply - UBS analysts
** Lynas had flagged disruptions to BHP's ability to supply sulphuric acid to its Kalgoorlie facility, after BHP suspended its Western Australia nickel ops
** About 4.1 mln shares change hands, vs 30-day average volume of 3.3 mln shares
** Lynas stock down 15.5% YTD as of last close
($1 = 1.5056 Australian dollars)
Reporting by Ayushman Ojha and Poonam Behura in Bengaluru
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