This would be a bit of a bargain

The Mountain Pass rare earths mine, located about 50 miles south of Las Vegas, was owned by Molycorp, a US natural resources group that filed for bankruptcy in 2015.

The mine is now due to be sold at auction on Wednesday, and Mr Clarke’s ERP Strategic Minerals has teamed up with Swiss private equity firm Pala Investments and Australian rare earths exploration group Peak Resources to offer $1.2m.

I would expect that $1.2 million to be a misprint though.

There is scandium in that thar tailings pile…..part of their frantic thrashing around before bankruptcy was to discuss it with me.

2 comments on “This would be a bit of a bargain

  1. If they’re paying $1.2 million to acquire both the company and responsibility for its $1.8 billion debt then it’s not such a great deal.

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