Requiem for BER/TSXV and its ill fated reportage. Some indications i.e. their location and mineralogy seem to say that all is not lost and now might be the time to buy, not sell their stock. No telling right now, but this quote below is about the area they are in. Is it a slam dunk? Well, no, but it has not been called on account of rain either. Bayan Obo, mentioned below is a giant, huge, rich REE deposit in Mongolia, possibly the largest and richest in the planet. A lot of people sold on the basis that if Be was not 19.5% then they were crap at 1.95% TREO. Not so. Time will tell. Mineralogy to me is the key here. If they show as having bastnaesite, similar to Mountain Pass, CA, then I think it is worth following.
"The REE deposits in the Gallinas district are among the highest potential in New Mexico. The Gallinas deposits are similar in size and grade to small to medium size deposits found elsewhere in the world. Resources amount to at least 537,000 short tons of 2.95% total REE(not NI-43-101compliant; Jackson and Christiansen, 1993; Schreiner,1993. Drilling is required identify a better resource estimate. However, the district has not been extensively drilled and future exploration could identify additional resources. Chemically, samples from the Gallinas district are similar in REE chemistry to Bayan Obo,Lemhi Pass,and Olympic Dam deposits and different from Capitan deposits." |
