>>22321572I think MEI is worth at least a speculative position. The speculation being REE prices recovering soon. If they don't recover I think the company will still do ok when they get into production, but if NdPr prices were above $100/kg the annual EBITDA should be almost double the current market cap which would obviously be quite a sweet deal for a mine with potential to produce for longer than a century.
It's not as pants on head retardedly easy trade to take as SVM was when I started buying it about a year ago since the REE market doesn't have the same amazing fundamentals as the titanium markets, but it's good enough for me. It's got the scale, it's got the low costs, it's got the global competitiveness in its own commodity group, the only thing that gives pause is the REE market. Not easy to call a bottom.
