USA Rare Earth stock drops as MP Materials secures major deals, highlighting the challenges of pre-revenue companies in the critical minerals market.
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Written by: Daniel
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Written by: Daniel
NEWS USA Rare Earth Stumbles as MP Materials Secures More Big Deals-Is the Market Picking Winners?
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Fundamental
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I sense a touch of hypocrisy when it comes to discussion about USA RE vs MP, this is the second headline today suggesting it is unfair that Donald has at last taken steps to address the shortages by stimulating the Sector. Who is writing this stuff ?
Instead of trying to justify Donalds actions; let's look at why USA RE might just be crying Wolf. Round Top is/was first promoted by Jack Lifton and Texas Mineral Resources many years ago. Firstly as a Niobium deposit, then a Polymetallic deposit and finally as Rare Earth deposit. Despite it not stacking up as much, Jack managed to persuade a highly colorful Australian entrepreneur Diamond Joe Guttnick, to park some very questionable money there, and USA RE was formed. Mike Pompeo (that once high-flying Whitehouse and DoD official ?) became a Director and a secondhand magnet facility was acquired, all looked rosy until Mike had a spat with Donald! Time to disassociate, recover what they can and move on. Jack hived off TMR with some Silver interests and the rest was put up for a SPAC, yes you can fool some of the people all of the time!
From time to time, Jack and a few of his Associates also supplement their incomes by providing "Expert" commentary to anybody who will listen. They have been regular contributors to that Chinese supported (Sub-stack) propaganda group the Rare Earth Observer, which never misses an opportunity to tell everybody that "the West has no hope of ever catching up to China's dominance of the Rare Earth Industry", why wouldn't you?, when your parent company GITI makes its money as an Agent, trading Chinese Rare Earths and Magnets,
So, I am certainly not surprised when I now see an article from the Financial Times, by Ms Leslie Hook, who just happened to be the FT's China business reporter (writing about Rare Earths) 2010-2013, while at the same time Thomas Kruemmer the now Director of REO and GITI was also there. Yes, China is a big place but the Expat community in Beijing is very closely knit, and I would not take bets that they met in Maggies, The Den or Murphies.
Instead of trying to justify Donalds actions; let's look at why USA RE might just be crying Wolf. Round Top is/was first promoted by Jack Lifton and Texas Mineral Resources many years ago. Firstly as a Niobium deposit, then a Polymetallic deposit and finally as Rare Earth deposit. Despite it not stacking up as much, Jack managed to persuade a highly colorful Australian entrepreneur Diamond Joe Guttnick, to park some very questionable money there, and USA RE was formed. Mike Pompeo (that once high-flying Whitehouse and DoD official ?) became a Director and a secondhand magnet facility was acquired, all looked rosy until Mike had a spat with Donald! Time to disassociate, recover what they can and move on. Jack hived off TMR with some Silver interests and the rest was put up for a SPAC, yes you can fool some of the people all of the time!
From time to time, Jack and a few of his Associates also supplement their incomes by providing "Expert" commentary to anybody who will listen. They have been regular contributors to that Chinese supported (Sub-stack) propaganda group the Rare Earth Observer, which never misses an opportunity to tell everybody that "the West has no hope of ever catching up to China's dominance of the Rare Earth Industry", why wouldn't you?, when your parent company GITI makes its money as an Agent, trading Chinese Rare Earths and Magnets,
So, I am certainly not surprised when I now see an article from the Financial Times, by Ms Leslie Hook, who just happened to be the FT's China business reporter (writing about Rare Earths) 2010-2013, while at the same time Thomas Kruemmer the now Director of REO and GITI was also there. Yes, China is a big place but the Expat community in Beijing is very closely knit, and I would not take bets that they met in Maggies, The Den or Murphies.
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Hi @Fundamental Maybe you can repost this in the MP or USA RE part of the forum for more impact.