Share price - General Discussion, page-2135

Hi Dyanamo & Punty, I don't think anybody from Pensana has ever compared us to MP, in fact I think if you asked PA what he thinks about that operation he would roll around the ground laughing.

1. .IMO Mountain Pass is a huge scam, I have yet to find anywhere where they publish a JORC resource statement that shows any significant improvement on their 2010 SRK numbers. Which showed just 480,000t of Proven and 13MT of Probable Ore with a strip ratio of 13:1.
2. Since 2010 Molycorp and the Chinese continued to mine the Pit (rat holed) but removed very little waste and never made a profit !
3. Fortress came in and pumped enough money in to refurbish the processing plant to a point where they can make a Concentrate (which is shipped to China for refining), then floated the whole Project to recover their Investment. If you look closely at the latest imagery, you will see that they are currently striping out a huge amount of waste from the side walls to gain access to the remaining ore on the pit floor; So Yes they are now in production but for how long ? Where are the Exploration drill rigs that SRK said were needed needed to delineate New Reserves ? and how much is it costing them to remove that Waste, which incidentally is being dumped on top of the N-W ore extensions !!
4. The American Tax payer (Government) is now pouring millions of $ into MP in the form of Grants and incentives,

So I am a little more than cautious about MP and certainly could not compare it to Longonjo/Coola, our Strip ratio is basically zilch, we have a new "Propriety" process and a "Resource Base" that makes MP look like a Lambretta against a double decker buss !

If you must compare us against anybody ? I suggest Lynas, although even they have problems with their Location/Logistics