I have been holding this title for some time and today's announcement has been a bit of a surprise as they have been chasing gold, copper and U308.
This company is the Australian Subsidary of Chinalco a Chinese State owned company. The two major share holders are Chinalco and Yunnan Copper Group.
They are the only company that got last year a mining licence in Laos and their asset is very close to the planned highshpeed train that is being build to connect Northern Laos to Kunming (China) where Yunnan Copper has a smelter. How relevant the the highspeed trainline is to the development of this asset is difficult to say however I do not believe in conincidences.
The reported results show that they have found REE but are a bit vague. However given the fact that REE are thought after and with a high degree of certainty it can be assumed that majority ownership lies with Chinese State Entities, it is safe to conclude that they will develop a mine to exploit the resource.
All IMO
AKN Price at posting:
31.5¢ Sentiment: LT Buy Disclosure: Held
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