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  • fastmoney_2011 fastmoney_2011 Jan 10, 2011 11:58 PM Flag

    Profile of a FAKE mining company, MCP

    MCP and LYNAS will be first to market LREE's. First to market makes the most money.

    I believe that MCP will be the 'google' of the REEs even if they have to buyout the juniurs to get there



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    • I tend to agree, although it should be noted that LYNAS will be producing before MCP (and iirc it is already producing). But the large number of shares being added to the float is what concerns me short term. Finally, the concern of another poster about MCP's problems in entering the REE market is not a real concern. If the demand is there, MCP will do just fine.

      • 2 Replies to agrayson1986

        Read that article and you might reconsider whether it is a concern, this mine was shut down for repeated radioactive water leaks. California, under environmentalist new Governor Brown, will be watching this like a HAWK, assuming they let production begin (granting permits to construct does not mean they will blanket allow production unless it meets strict specifications yada yada)...

        In 1998, chemical processing at the mine was stopped after a series of wastewater leaks. Hundreds of thousands of gallons of water carrying radioactive waste spilled into and around Ivanpah Dry Lake.[7]

        In the 1980s, the company began piping wastewater as far as 14 miles to evaporation ponds on or near Ivanpah Dry Lake, east of Interstate 15 near Nevada. This pipeline repeatedly ruptured during cleaning operations to remove mineral deposits called scale. The scale is radioactive because of the presence of thorium and radium, which occur naturally in the rare earth ore. A federal investigation later found that some 60 spills—some unreported—occurred between 1984 and 1998, when the pipeline was shut down. In all, about 600,000 gallons of radioactive and other hazardous waste flowed onto the desert floor, according to federal authorities. By the end of the 1990s, Unocal was served with a cleanup order and a San Bernardino County district attorney's lawsuit. The company paid more than $1.4 million in fines and settlements. After preparing a cleanup plan and completing an extensive environmental study, Unocal in 2004 won approval of a county permit that allowed the mine to operate for another 30 years. The mine also passed a key county inspection in 2007................................

      • "although it should be noted that LYNAS will be producing before MCP"

        You are correct. Lynas is a winner but it should be noted tha5 MCP has a better asset


    • China is the GOOGLE of REEs already. MCP is more likely to be the Lycos of REEs lol.

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