I just got email alert from my Dines Letter subscription a couple of days ago. China just announce its export quota for 1st half of 2011. The number is quite to be expected. 14,446 tonnes down from 2010 export of 16,304 or 11.4% down. Non-Chinese REE stocks experience a large jumped in share price as soon as the announcement went public. As always mainstream media play down the stock appreciation, they say 10% increase. From what I can count most REE stocks went up 20% at least. Some perform better than the other. Lynas went up 17% in 2 days. While many of my US and Canadian REE shares went up 30% in the last 2 days, 10% on Wednesday and a further 20% just last night. http://au.news.yahoo.com/a/-/technology/8575516/rare-earths-shares-jump-after-china-quota-cut/
I hold ALK which is up 20%. And a gold junior I have mentioned here, SBL, is up 14% today. I made a few grand on Kinross o/night too, so I'm a happy chappy today. LOL
Wow nice appreciation on your stock holding guys. Great trades. Just wondering, do you convert any of your profits to physical PM's?
I don't. There is more leverage in the miners and I have had my modest stack for a while now. Moving house, buying furniture soaks up any cashed out gains.
This could be a good thing for Australian exports as a buyers alternative. Since we mine just about everything here I imagine we can have a stable and reliable supply of REM's.