There are two ways to make money with mining stocks on the ASX....

There are two ways to make money with mining stocks on the ASX. One is to drill the ground, find the resource and mine it. The other way is to mine the ASX for gullible shareholders. In this case the latter seems a distinct possibility. The announcement of the REE's is interesting but until they have done the metallurgical work to see if it can be extracted economically we and the market are in the dark. There is a distinct lack of confidence when the test work is not done.

But all is not lost. Nearology has not gone away although it is slumbering. Confidence in government is waning and that means that confidence in government bonds may also fail. Should that happen there will be a stampede into gold and that will lift all boats - even listed Chinese restaurants if they have gold in their name. I have not lost confidence in human nature and the bet seems good on that basis. If the price should halve from here I will double my holding.