Hi guys,
I am new to the company as of yesterday. I jumped in on TA yesterday and added more today after some DD last night. I was also happy to see we had some serious insider buying today, some 202k shares.
I really like this link for inside info:
http://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=mat&x=63&y=13
It takes 2 days sometimes for it to show up in my TD INK report.
I did some comparisons with 2 other notable rare earth plays:
: QRM is another rare earth play. They have 36.4Mt of 1.16% trio and a MC of 439M,almost 6x our MC. AVL is another one,they have 57.49Mt of 1.56%trio and a MC of $869M, almost 12x our MC. We have 50Mt so our tonnage is very favourablebut the grade is expressed differently and I need to spend time to assess thispart more.
Now, my difficulty here is assessing the value per ton of our deposit vs these others. However, I love the fact that our deposit starts at surface, down to 90m, is part of a hill top, seems very homogenous. The metalurgy seems very positive and they have a processing method that they are boasting will be very economical to mine this ore. At 50M tons already, this is a sizeable deposit that would justify the infrastructure if our value per ton is there. With China cutting back on exports of rare earths, I can see prices here that are very well supported, possibly going even higher.
I am curious to see which insider bought more. Our 10% holders already own about 30% of the company and that is very significant for a small cap like this. I bought in yesterday and added today. My only beef so far is that IR has not returned my call. Hopefully tomorrow!
Glorieux
