Lynas (LYC) said in a statement today that it noted that there had been some recent media speculation about the state of the rare earths industry.

China’s stranglehold is breaking, with the World Trade Organisation recently ruling that its export tariffs were unlawful. But Lynas said there had been no variation to its position from last month’s quarterly report, when it posted increases in production volumes and sales revenue, and a fall in production costs.

“Having received the full $83 million (less costs) from the recent equity raising, we are looking confidently to the future,” chief executive Amanda Lacaze said.

Lynas’s shares had risen by 0.55 of a cent, or 10 per cent, to 6.05c by 3:07pm AEDT.

The company’s stock has been dumped this year, as Lynas conducted two capital raisings and struggled to stay financially healthy.

Rare earths prices have sunk as supply has increased and hi-tech product users have become more efficient and found alternative sources to deal with China’s stranglehold on world production.

Lynas has also struggled to ramp up production and make its Malaysian refinery profitable.

Its shares have fallen more than 82 per cent in the past year, with the company having made a $366 million loss in 2013-14.