UK 20:09 Monday, 21 September 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
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%.
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Comments
Drunken Sailor
Hastings (HAS) had £2.7M in the bank at 30 Sep 15. They burnt £865k in the Quarter to 30 Sep 15 and estimate they will have burnt another £554k by 31 Dec 15. HAS has another 100% owned project to fund as well. Everything to do with REMs is an order of magnitude more expensive than other metals – they are not rare, just bloody hard to extract.
HAS will not be buying REM’s 30%, they are going to need to raise considerable sums to advance their 100% owned project and would need to raise even more to fund the 70% of Yangibana. REM picked up its 30% of Yangibana for a load of REM confetti years ago. It was the company that got rid of Yangibana selling all those shares that completely crashed REM’s share price – it clearly is not a particularly attractive 30% to own, especially as the 70% partner is financially worse off than REM!