"From delays in production at MCP's Mountain Pass project in California, less-than-hoped-for geological findings at Mountain Pass, an SEC investigation, a $200 million common stock sale, to a departing CEO, have crushed the stock to as low as 65.2% of Book Value in mid-December." ..... "In the case of MCP, the stock price has dropped approximately 95% from its May 2011 peak price of $79.1" .... "Even as far back as Nov. 2013, the then interim CEO Constantine Karayannopoulos noted a tightening in REE inventories. Karayannopoulos told Reuters, "a semblance of stability" of demand had returned to the marketplace; and added, "We haven't gotten what I would consider an historical normal yet. But it certainly looks and feels like we are on our way towards that."
Call me cynical antibotter, but after watching the spectacular rip off by MCP board members totalling billions of SH funds, I sense another pump and dump coming. Lynas with all its problems looks a much safer bet IMHO.
LYC Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held
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