Monday, June 15, 2015

MCP is bankrupting - warned in 2011

From my first book A Nation of No Losers (my only political satire):

As of 2011, China has at least two years before these foreign mines are ready. [Note: As of 8/2012, some new mines on rare earth minerals are ready to be mined outside China. However, with the global recession, they’re not profitable.] By then, China will decide the prices again based on whether they want to capture the rare earth market and/or their products that use these rare earth elements.

To summary, China should limit the rare earth element export and price them as high as the market can bear. I would avoid betting on rare earth elements by foreign miners as they are too risky.

Plus my several posts in SA. It drew laughs as the enthusiasts were loading rare earth stocks at the time (around 2011). Even recently MCP's stock surged briefly after the 60 Minutes episode. Now who is laughing (or crying)?

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