Rare Earth stocks again in the spotlight
Today China announced its new export quotas for Rare Earth elements. On the surface they cut planned export for 2011, but compared to the second half of 2010 it seems actually to be an improvement for supply. Molycorp had additionally news about a reopening delay of one of its mines. Earlier this month good news [...]
Mining gets hot again
Molycorp got ignited by a rumor that Sumitomo is considering to buy a stake in the company. The other Rare Earth company that is easily tradable in the U.S. markets, Rare Element, got dragged up today in sympathy with MCP. Novagold Resources made a restart in its 6 weeks old sharp up-trend. Hard to tell [...]
Molycorp, Rare Element and a new ETF
Two weeks ago China announced a restriction of rare earth element export and coincidentally that was the day of my last post about Molycorp (MCP) and Rare Element (REE). That day both stocks ran up strongly. Today the news suggest the opposite. The New York Times had a story about new shipments from China. So [...]
Strong trends and weak fundamentals
Some rare earth elements and precious metals stocks made today a restart in their fulminant trends. All of that coincidentally at the beginning of the earnings season. Here we have Molycorp (MCP): and Rare Element (REE): and finally Golden Minerals (AUMN): Common to all three (and other peers) seems to be a technically fine trend [...]