So, China has now officially banned ("restricted") 7 rare earths (samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium).
They also banned NdFeB magnets, which are used in most electric cars, wind turbines, etc. (China produces ~90% of NdFeB magnets!).
Even though Nd & Pr aren't banned directly (for now?), Nd is banned indirectly via the banning of the NdFeB magnets.
Last night MP Materials over in the US, which produces mostly NdPr, closed up 22%, adding $800M+ to its market cap.
Today on the ASX, we started to see some REE stocks moving in response (some closing 40% up):
Should see the rest of the REE companies start moving up/whole sector, unless something dramatic happens?
With REEs starting to move, SPP handbrake out of the way as of end of today, and with all the gold drilling/activities ongoing, hopefully we see DRE starting to move tomorrow from the current 1.2c (was 1.8c only a few weeks ago, before all this news).
Cheers,
GB.
DRE Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
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