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Reuters Africa reported that Neo Material Technologies (TSX:NEM) anticipates lower rare earth prices despite earning a record profit in Q3 2011.
Reuters Africa reported that Neo Material Technologies (TSX:NEM) anticipates lower rare earth prices despite earning a record profit in Q3 2011.
As quoted in the market news:
Shares rose as much as 7 percent early in the day, but later turned negative, closing down 1.8 percent at C$8.05. This came as the company warned that lower rare earth prices coupled with stagnant volumes would result in lower revenues in the fourth quarter compared to the third quarter.