It's a feeding frenzyand we are caught up in the middle of it.
Since Monday's news story of China putting an embargo on further shipments of rare earths to the U.S., all of the rare earth stocks have done well. China has not shipped any rare earths to Japan since the end of July. Since they produce around 97 % of the world's supply, China can be their own OPEC of rare earths.
This morning RES is up another amazing 12 %. MDL up 25 % CCE up 15 % and we are up 12 % on heavy volume.
Looks like the rare earth story will be getting very interesting for shareholders. And if CIN has anything like the recent Spectrum discovery ( 48 M of 3.5 % REE, 72 m of 2.92 % REE and 142 m of 2.2 % REE ) which is less than 500 metres from where we are drilling.................................well
Watch the SmartStox interview with Michael Schuss on the CIN website.
Looks like the rare earth space will replace the gold / silver space for awhile for the grewatest volatility. And since most of these rare earth companies have been flying below the radar for so long, they have very small market caps.