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Rare Earth Minerals (REM) has seen its market cap more than double in the space of a month, but it is hard to see anything that justifies such a meteoric rise.
On 19 November 2015 shares in Rare Earth Minerals were 0.8p and I warned that they were overvalued and that a placing was 100% inevitable - HERE. David Lenigas took to twitter and explicitly accused me of lying/being a troll/making it all up. Today the shares stand at 0.57p after a placing today at just 0.55p. So who is the liar now?
Bacanora Minerals (BCN), the AIM and TSX-listed lithium explorer with assets in the Sonora province of Mexico, has stood out from its peers in the junior exploration space in recent years. While share prices have collapsed all around it, this lithium play has maintained a market cap of £70 million despite having yet to release a PFS. Part of this is because lithium was the hot commodity of 2015, but also because (as Peter Secker alluded to when this exact question was put to him at Gold and Bears) Bacanora has a "supportive shareholder".
There are number of reasons why Rare Earth Minerals (REM) is a slam dunk sell. So many that it is hard to know where to begin. But we might as well start with the macro scene and a very important article that appeared on this website a few minutes ago.
Featuring shares in Concha (CHA), China New Energy (CNEL), Empyrean (EME), Emerging Market Minerals (EMM), Independent Resources (IRG) and Rare Earth Minerals (REM) with share price targets for all six stocks.
I commented in a recent Bearcast that Director's options should be set at a price so as to reward success not failure, and to align Directors' interests with shareholders. Recently we have seen Debenhams reset Directors' option exercise prices downwards so that they can still be achieved despite failure and a crashing share price. But this trick goes way back, and no-one is better at this 'move-the-goalposts' approach to performance management than Jabba The Hutt, David Lenigas.
Over the weekend one of our most read pages was a very old article about bogus Tripadvisor reviews of a restaurant called Real Man Pizza Company. This was driven by discussions on the LSE Asylum Rare Earth Minerals (REM) thread about "defending their stock" - down again today BTW - by attacking me. And lo and behold...
Jabba The Hutt likes to get shares at 0.01p in companies he is involved in. So what if other folks have to pay far more at the same time, David Lenigas sees it as a reward for enterprise. We have already seen scandals on this front at Lenigas Cuba (HERE) and AfriAg (HERE) but the Big Daddy is Rare Earth Minerals (REM) as I shall now explain.
Another hat tip to reader Rudyard. Jabba The Hutt, aka, David Lenigas is a share promoter, and a good one – so far at least - , but the result is that shareholders in things like Rare Earth Minerals (REM) can end up over-paying. There is no doubt that the Sonora lithium deposit is very large, and in the fullness of time could generate substantial value. But that misses the point, which is that Rare is an investment company and one should therefore look at the share price in terms of the current market value of the individual components. This is important when you can get access to the same assets via investing directly, in other listed companies.
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at shares in Churchill Mining, Rare Earth Minerals and Stratmin Global with share price targets set for all three.
With a hat tip to reader Rudyard, I now lay out the bear case for Rare Earth Minerals (REM), another David “Green Hair Services” Lenigas AIM Casino counter that is monumentally overvalued. The fat aussie share ramper Jabba The Hutt insists he has no need to issue shares. The maths suggests he has to. The shares should fall by 75%.
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at shares in Formation Group (FRM), Kennedy Ventures (KENV), Rare Earth Minerals (REM) setting share price targets for all three stocks.
Entrepreneurial Rare Earth Minerals (REM), headed by controversial Australian resources player David Lenigas, has spent £324,500 lifting its stake in fellow AIM counter Bacanora Minerals (BCN), as work speeds up at Bacanora’s Sonora lithium project in northern Mexico. Following Bacanora’s milestone agreement to supply Tesla Motors, US maker of electric vehicles, with lithium hydroxide for the batteries they need, the Sonora participants have mobilised a second rig to accelerate drilling the second nine holes of an 18-hole programme as part of a pre-feasibility study on the project, which should be completed in the first quarter of next year.
John Meyer of SP Angel this morning comments on Amur Minerals (AMC), Ariana Resources (AAU), DiamondCorp (DCP), EMED Mining (EMED), Metminco (MNC), Mwana Africa (MWA) & Rare Earth Minerals (REM) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
John Meyer of SP Angel this morning comments on Antofagasta (ANTO), Berkeley Resources (BKY), Nord Gold (NORD) and Rare Earth Minerals (REM) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at Corero Network Security, Rare Earth Minerals, United Carpets.
Featuring Eurasia Mining (EUA), Mwana Africa (MWA), Rare Earth Minerals (REM), Sirius Petroleum (SRSP)
They are flooding in now. Unlike some trade shows where you see rows of stands from financial services pond life like Darren Winters and Nasdaq listed and privately held UK companies of zero interest, UK Investor has stands manned by 100+ PLCs listed on AIM in which you can invest. One of them was Rare Earth Minerals (REM) and here is the video of its presentation from 2015.
Entrepreneur Big Dave Lenigas has got into a spot of bother before for his activities on twitter. I accept that Mr Lenigas is enthusiastic about his investments but for his own sake he should get off twitter now. Pre-placing tweets about Rare Earth Minerals (REM just look wrong. And then there is the email.
I find myself feeling more like a bear or worse Victor Meldrew by the minute, Today I read the RNS feed only to find what can only be described as an odd release. Rare Earth Minerals (REM) announced:
I penned a piece on bulletin board favourite Rare Earth Minerals (REM) in July of this year at a share price of 1.65p and I called it to 0.5p because I reckoned the market had been overhyped on the lithium valuation. Ok, we didn't get the 70% tanking I was expecting but we did get a stonking 48% decline because the share price is now only 0.88p, proving my call was right.
Rare Earth Minerals (REM) is another David Lenigas company which divides opinion. Some think that its shares are a stonking sell - see HERE - while others think they offer real value - see HERE Why not watch its CEO Kiran Morzaria in video action at the UK Investor Show and decide for yourself...
Gosh I am bored of the Rare Earth Minerals (REM) valuation debate. How about you listen to a real expert on mining stocks explain how to value them and make up your own mind. Here is Amanda Van Dyke at the UK Investor Show 2014. She is not just a pretty face she knows her stuff.
I am not an expert so do not take this as a buy tip. If I was forced to be a bull or a bear I’d be a bull. But I certainly would not be selling this stock at 1.25p. James Parter was clearly RIGHT to say sell at 1.65p HERE, but at 1.25p?. Indeed I can see a case for having a very small flutter on Rare Earth Minerals (REM) now on a 2 week view.
After yesterday’s running verbal battle concerning my sell call on Rare Earth Minerals (REM), today I feel I have to follow up with more detail why I believe this stock is a sel. I came under fire for there being a lack of detail and thought behind my original piece. Although I disagree with this, I don’t mind spelling out what I am convinced Rare Earth is a sell at 1.65p.
If you’re looking for a share that is exciting to watch, then AIM-listed Rare Earth Minerals (REM) certainly fits the bill. This small miner with interests in Mexico, Greenland and Australia, hit the headlines last August with a meteoric rise from a low of 0.04p to a peak of nearly 2.5p in the space of just a few weeks.
Direct from the Queen Elizabeth Conference Centre a video featuring a UK Investor Show 2014 presentation by Kiran Morzaria of Rare Earth Minerals (REM)
David Lenigas, entrepreneurial Australian chairman of Rare Earth Minerals (REM), is waiting for imminent results of the latest drilling at the AIM-quoted company’s lithium and rare earths projects in northern Mexico.
As we all know, one of the big advantages of technical analysis over fundamentals is that when employed successfully you have timing on your side.
In the case of Rare Earth Minerals (REM), the advantage of such a technical approach could have meant that those who were lucky enough to have gone long here for the great August rally, decided to head for the exit around the 0.97p level at the end of that month.
Looking at the daily chart of Rare Earth Minerals (REM) since the end of August it is not difficult to imagine that every speculator in town is betting on when/if there will be a new leg to the upside. Fear not speculators…
Rare Earth Minerals (REM) currently has something of a hangover feeling as we recover from the champagne surge from 0.1p to 2.4p in August. But the champagne days are not over.
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