Lynas Corporation Limited

Australian Market Report of September 6, 2010 includes; Lynas Corporation (ASX:LYC) significant increase in the Mineral Resource estimate for the deposit with elevated heavy Rare Earths oxides, Pike River Coal (NZE:PRC) second export shipment scheduled to depart Port of Lyttelton for India, Southern Uranium (ASX:SNU) has located new high-grade iron outcrops that further advance the iron ore prospects of the company and Jatoil Limited (ASX:JAT) entered into a Heads of Agreement to acquire significant coal assets in Kalimantan, Indonesia.

Avalon Rare Metals Inc. (TSE:AVL) (OTCQX:AVARF) is pleased to announce the results of a revised 43-101-compliant resource estimate for the Nechalacho Rare Earth Element ("REE") deposit, Thor Lake, Northwest Territories, Canada. The revised resource estimate was prepared by independent consultant Scott Wilson Roscoe Postle Associates Inc. ("Scott Wilson RPA"), as part of the Prefeasibility Study ("PFS"), that it is preparing for the Company. The PFS is nearing completion and the results of the economic analysis will be disclosed within the next two weeks.

FINANCE VIDEO: Lynas Corporation (ASX:LYC) VP Business Development Matthew James Talks To Brian Carlton on Rare Earth Projects.

Lynas Corp. (ASX:LYC) Tuesday said its estimated cost to complete phase 1 of the concentration plant in Western Australia and advanced materials plant in Malaysia is A$339.2 million, up from previous estimate in March of A$302.7 million. This is due to a significantly higher Engineering, procurement and construction management fee, which has increased to A$136.4 million from A$100 million in previous estimate.

The Board of Conquest Mining Limited (ASX:CQT) (PINK:CQMLF) is pleased to announce that Mr Jake Klein has accepted the position of Executive Chairman of the Company. Mr Nicholas Curtis and Mr James (Jim) Askew will also be appointed to the Board as Non Executive Directors. The appointments are subject to shareholder approval and will take effect on the date of an Extraordinary General Meeting (EGM) to be called as soon as practicable.

Wall Street closed lower overnight after American consumer confidence reading in September dropped unexpectedly. The weakness in US technology stocks, which had been a leader for much of Wall Street's six-month rally, yesterday led a fall in the market. The Conference Board's consumer confidence index dipped in September to 53.1 from 54.5 in August as people worries about job market.

China's tightening rare earth export may affect the A$500 million takeover of Australian company Lynas Corporation (ASX:LYC) by a state-owned company.

Wall Street overnight extended its losses after a disappointing non-farm payrolls report in August, which raised concerns over the coming key reports on employment this week. US private sector slashed 298,000 jobs in August, a faster rate than economists' forecast.

Yesterday Australian shares slightly fell on weaker base metal prices. The benchmark S&P/ASX200 index dropped 16.8 points, or 0.4 per cent, at 3766.9 points while the broader All Ordinaries index had shed 16.4 points, or 0.4 per cent, to 3767.8.

Yesterday the Australian shares closed lower. The benchmark S&P/ASX200 index ended 52.4 points, or 1.4%, lower at 3683.3, while the broader All Ordinaries shed 56.4 points, or 1.53%, to 3624.0. The market is pessimistic about the company earnings ahead both in Australia and abroad as investors get prepared for the news that would bring some unpleasant surprises.