Luxury of time long past, USG needs to wake, fast.
Biggest, Almost Exclusive Customer/Related Party “Shenghe” is Ultimately Controlled by China’s Treasury Department
We have a few questions for MP and also the regulators:
• Did MP ever disclose that Shenghe is ultimately controlled by China’s Treasury Department?
• Did the Department of Defense know that MP’s 99%+ revenue customer and ~10% shareholder Shenghe is ultimately controlled by China’s Treasury Department?
• Did the regulator(s) approve the $20.5 million Mountain Pass mine purchase back in 2017 knowing that Shenghe is ultimately controlled by China’s Treasury Department?
• Since the United States needs to import rare earth products, why does MP sell 99%+ of its products to Shenghe which eventually sells to other end customers in China?
• It appears MP is allowed to sell its products to customers other than Shenghe, why does Shenghe still account for 99%+ of MP’s revenues in recent quarters?
https://grizzlyreports.com/Research/MP Materials Corp.pdf
Very similar Chinese strategy in place companies like ARU & GGG, ~10% equity purchased at low prices, little to no further capital contributions, but foundation offtakes in place, watching, waiting, companies like ARU & NTU have even put Chinese Directors on the Board.
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$10.83 |
Change
0.020(0.19%) |
Mkt cap ! $10.09B |
Open | High | Low | Value | Volume |
$10.75 | $10.84 | $10.65 | $15.74M | 1.463M |
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No. | Vol. | Price($) |
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34 | 14433 | $10.82 |
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Price($) | Vol. | No. |
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$10.83 | 5212 | 14 |
View Market Depth
No. | Vol. | Price($) |
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53 | 11381 | 10.820 |
26 | 16072 | 10.810 |
12 | 6350 | 10.800 |
15 | 10525 | 10.790 |
12 | 12819 | 10.780 |
Price($) | Vol. | No. |
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10.830 | 7603 | 14 |
10.840 | 38327 | 17 |
10.850 | 22193 | 24 |
10.860 | 16320 | 11 |
10.870 | 23160 | 14 |
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