June 2-7, 2013: Graphite and Uranium Positive, Rare Earths and Potash Flat for the Week
I was trying to secure a cab this morning when Al Shefsky called me to let me know that Pele Mountain had news that had just crossed the wire: Pele Mountain Announces Major Increase in Uranium and Rare Earth Resources at Eco Ridge. Positive in his communications, I reviewed the results and if you add up the indicated and inferred numbers (correct me if I am wrong) – but this looks like over 200 million pounds of rare earth elements and more than 60 million pounds of uranium?
So how will the market respond to what is a formidable increase in Pele’s rare earth elements, uranium and scandium deposits? Let’s use this as an example of a company with good news in today’s market and see how the market responds…
Last night I was writing emails quite late on my analysis of this last year’s performance of the rare earth sector. This is based on the REE Leaders Index featured on the right column of our site that started at 422 on Monday, June 2nd and closed at 402 on Friday, June 7th: down -4.79%. With the high on June 20th at 965 to the low on Friday – this sector is down roughly 58%.
Now for the good news…ProEdgeWire sponsors in the rare earths and critical minerals sector fared fine last week, barely down -1.82%.
Biggest performers of the week included Matamec Explorations up +21.43% on their Kipawa Rare Earths Project – Federal Funding Available news, Ucore Rare Metals up +12.24% perhaps on the well written piece by the USGS titled Research on Rare Earth Elements in Alaska Could Help Make Them Less Rare, IBC Advanced Alloys and Medallion Resources both were up just over 10% for the week — no news. This said, Medallion literally just released news 10 minutes ago announcing a private placement (click here).
Get our daily investorintel update
Strong new additions were made to our team this week with Guest Editor John Clarke writing a column on the oil sands and then Dr. Allan Branch did a part one and part two on the rare earth elastic markets, which Jack Lifton described as “…one of the most perspicacious articles this blog has ever published.”
As for the graphite and graphene market this week, our clients averaged up +3.17% with Standard Graphite leading the charge with a +33.33% increase, and Lomiko Resources up +27.27% on the announcement of some sizable new bench strength by building their new research and development team (click here).
Canon Bryan has stepped in as our uranium and nuclear energy editor, and we are lucky to have him. He wrote a wonderful month in review about the recovering uranium market that is starting to spark — so stay in the game. ProEdgeWire sponsors percolating just above the surface at +0.77% for the week.
On the potash and phosphate front, we were down -4.17% for the week; but we were delighted to have an update by Sidney Himmel of IC Potash, who came by our offices. Wednesday. Alessandro usually covers this sector, but he is in Poland this weekend and according to his last email he is in Vienna this AM.
We officially have John Clarke and Mehdi Azodi in the ProEdge Media offices, and hanging around the watercooler, so anticipate some surprises around the corner…as per usual, Robin Bromby had several well-read pieces this last week, including:
An accomplished entrepreneur and corporate finance professional, Tracy Weslosky is the CEO for InvestorIntel Corp. and the VP of Business Development for Bellotti Capital Partners ... <Read more about Tracy Weslosky>