AnorTech Inc V.ANOR

Globe/NYT say Neo scores rare earth rights in Greenland

[Bell4545]

The Globe and Mail reports in its Tuesday, Aug. 23, edition that Neo Performance Materials is buying rare earth mining rights in Greenland from Hudson Resources. A New York Times dispatch to The Globe reports that chief executive officer Constantine Karayannopoulos says Neo plans to start mining and processing ore in Greenland in two to three years, with full production in about five years. The semi-processed ore will be shipped to Neo's chemical separation factory in Estonia, a former Soviet republic on the Baltic Sea in Northern Europe. Neo's goal is to free itself of the need to buy ore at world prices. These prices fluctuate more widely than most commodities, surging up to tenfold during periods of geopolitical tensions before crashing once tensions ease. Mr. Karayannopoulos says having a reliable, in-house source of raw material will make it possible to sell rare earths at fixed prices on long-term contracts with automakers. Neo is also preparing to start building this winter a factory in Estonia that will turn processed rare earths into magnets for electric-car motors. The factory in Estonia currently buys three-fifths of its rare earth ore from Russia and the rest from Utah.

[brazil2]

And we are suposed to be happy about that?  Our money has been spent to find this stuff but someone else will benefit, just great!  It's not the share holder that benefits that is for sure in my opinion.

[tannin]

This is one crup agreement...holy gosh, no NSR, no royalty, no shares, no options to buy shares, no nothing....and a limited, 5 yr only, possibility of more payment........5yrs and one day, oops, too too bad boys and girls.

[tannin]

20 minutes later, have already regretted what i just posted. Must assume management have a use for the 3 million...and, sometimes, cash in hand is king. It's not the only rare earth deposits in Greenland for one. Maybe we choose to regain control of White Mtn/Lumina operations ? With cash, we have options. I choose to trust our team.....and support the deal.

[tannin]

Sorry for such a radical turnaround in my thinking...no NSR or % of prod'n,& that odd 5 yr bit shook me. 3 mill in hand, Lumina progressing, our knowledge of Greenland ..... reasonable deal, let's appreciate having real $$ in the treasury and the potential that offers us. My temper got the best of me on that first post. Much happier holding shares with that sort of treasury.

[rkelly5]

We don't control White Moutain anymore , we no longer have any assets to develop . The 3 mil might pay our share of the dept  White Mountain has incured in the past few months and keep us in the game a little longer . Their next course of action will be to delute stock  to raise cash  , looking for their next marks , 

[brazil2]

rkelly5 you nailed it!  I mean cash is good if it get's you somewhere but with this one I am afraid it will just burn and nothing good comes out of it, lumina should be profitable by now and even if it is we have no control over it so basically they can do what ever they please over there I am not saying it is easy running a business so they might have financial problems I don't know

[brazil2]

tannin what options?  to me looks like the new managment don't want to do much but they need to be paid and they should if they work for the share holders name one thing they did since they took over that has benefited the share holder, why do you think the share price is where it is and that big investor dumped all those share few quarters back, I am a holder because I have lost too much

[tannin]

was thinking, brazil2, of our option to buy back 100% of the White Mtn/Lumina operation......though 3 mill doesn't help much there...sillyme. Our BoD has loaned $$ to HUD, rather than diluting, to keep us operational, that's one thing they've been doing for us the last long while. With a few million in the bank, a slice, 21%  to 31% depending, in Lumina with the option for 3

[majortom75]

3M is definitely not enough to buy back WM but, HUD picked up another anorthosite deposit in Greenland, near Nuuk. If they are on good terms with Lumina, then maybe HUD and Lumina would come to an agreement covering cooperative sales/marketing/processing etc. May be a bit pie in the sky but it means HUD wouldn't have to start from scratch with a whole new process plant. 

[tannin]

thanks majortom.....sounds like we're going to focus on anorthosite. Would think that HUD and Lumina will work together.....

[HayField]

if HUD had money to build another mine / plant they would use that money to just buy out the 66% of Lumina. if HUD could get a loan to build another mine / plant they would use that money to just buy out the 66% of Lumina.   it would certainly be nice, instead of guessing what HUD might have planned for their / our future, if they actually told us via a press release ... no press

[brazil2]

there is no insight that's why my speculation, brings out the worst of me I guess, I've seen to many companies shut the door over the last decades, some I was lucky anough to get out in the last moment some I wasn't that lucky, it's too many to list, I mean if they could let us know what the hell is going on with Lumina I mean I think we lost control of what is going on over there

[rkelly5]

The Jean Boulle Group is developing another Anorthosite project , this is funded by Greenland and Danish investors . Anorthosite will be cheap as dirt once they are in business . I invested in 3 companies in Greenland , True North Gems went belly up , I felt like there was a Vikeing raid , and they got away with the theft . Hudson might have made it if the plant was built on time , management was