Shares in Lynas Corporation have slumped, with investors disappointed by a fall in prices and the troubled rare earths miner's ongoing cash flow problems.
Lynas shares dropped 17 per cent in early trade on Thursday on news that the average selling price of its rare earths slipped more than $4 to $18.25 a kilogram in the June quarter.
Meanwhile, Lynas continued to lose money, with costs hitting $56 million while it collected just $26.5 million from the sale of goods.
The company carried out a $40 million capital raising during the quarter to help address liquidity concerns.
Lynas has had a troubled recent history, with chief executive Eric Noyrez quitting in June after just 14 months with the miner.
Lynas announced a $59 million first half loss in March after high costs linked to its Malaysian refinery, coupled with lower prices, dragged down its earnings.
Shares in Lynas were 2.5 cents, or 12 per cent, lower at 18 cents at 1106 AEST. The stock had fallen as low as 16.25 cents earlier in the session.
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