11 cents, would still be cheapest REE, page-17

Yes you are correct Niobium. But keep in mind that ARR is an explorer which has plenty of exploring to do before it can give a pre-feasibiity study. So at the moment, its shareprice is still in the discovery stage and that is where shareholders can make greatest capital gain. In contrast, Mountain Pass is a producer of a well-known deposit, so it probably has a stable shareprice - shareholders in the US may even be looking for dividends. So these are two different plays. Also ARR's Wyoming prospect appears to be better than you describe and the purchase of it by ARR has underpinned the recent rises in shareprice. This propsect in Wyoming is very under-explored so it has huge upside for shareholders. In short, ARR is a specky that is in the right place at the right time, with the right metals, IMO. Good luck amigo.