A LYC competitor. This is nothing more than a desperate pr...

A LYC competitor. This is nothing more than a desperate pr effort to stem the fantastic crash of the share price, which dipped into the $20s in After Hour trading on Monday. This is classic MCP, pretending and spinning:

"The company still needs to do extensive test drilling to determine the quality and quantity of the rare earth ore. But rather than wait for the test results, Mr. Smith acknowledged that Molycorp was announcing the deposit now partly to reassure manufacturers that adequate supplies of heavy rare earths would be available in the near future — in hopes of discouraging manufacturers from seeking alternative materials, as some have already begun to do."

They have no idea what there even is! All they know is that they need some kind of pr, any kind, to stop the collapse of the share price. The institution that "created" this company have great control over the American media, thus the story. Plain and simple.