Lynas Corporation (LYS): Winner for Week 39 of 2007

Submitted by Craig Strzelecki on 29 September, 2007 - 13:56

Lynas Corporation (LYS) was the overall best performing stock taking in a 20.09 percent increase. Among the best performing companies for the past week (week 39 of 2007) on the Australian sharemarket were a mixture of financial services, aviation, metal and mining: Allco Finance (AFG), Babcock & Brown Air (BNB), Fortescue (FMG), Lynas Corporation (LYC), Mt. Gibson Iron (MGX), Murchison Metals (MMX). The majority of the best performing companies were metal & mining companies.

Allco Finance, a fully integrated global financial services business and has evolved significantly from its origins as a leveraged lease packager and underwriter, was the best performing stock for the ASX 100 index seeing 14.76 percent rise or $1.19 and closing at $9.25 at the end of the trading week. Babcock & Brown Air, the company which acquires modern, high-demand commercial jet aircraft and lease them under long-term contracts to a diverse group of airlines throughout the world, came in the second position adding $3.12, closing at $27.47 and increasing 12.81 percent. Babcock & Brown Air was followed by Fortescue, a well-positioned company to become the next Australian mineral export heavy-weight and which has a market capitalisation of around $26 billion, adding $5.08, closing at $47.69 and increasing 11.92 percent. On the ASX 200 index, Lynas Corporation, which has a strategy of creating a reliable, fully integrated source of supply from mine through to customers, took the pole position adding 22 cents, increasing 20.09 percent and closing at $1.29. Mt. Gibson Iron, who leads the consolidation of the junior iron ore industry, with the successful takeover of Aztec Resources which has built a sustainable platform for future shareholder growth, came next in the line closing at $2.38 (+$0.37, +18.4%). Mt. Gibson Iron was followed by Murchison Metals, a 50% shareholder in Crosslands Resources Ltd which is the owner of the Jack Hills iron ore project located in the mid-west region of Western Australia, seeing 15 percent increase or 66 cents and closing at $5.06.