Ah, the ‘Beyond Meat Top 3’… as quickly as they came, they’ve disappeared.
Such is the nature of Stock Challenge.
In first-place now sits member ‘FREDERICK w HACKENBURG‘, thanks to insurance company Maiden Holdings Ltd. (NASDAQ: MHLD) +54.58% and Cancer Genetics, Inc. (NASDAQ: CGIX) +10.09%. In second is member ‘mountainpose1‘, who is up a combined 25.88% with his picks iLOOKABOUT Corp. (TSXV: ILA) and Granada Gold Mine Inc. (TSXV: GGM). Last but not least is our new third-place member ‘uniword‘, who doubled down on TSXV rare-earth metals companies with Ucore Rare Metals Inc. (TSXV: UCU) -7.41% and Medallion Resources Ltd. (TSXV: MDL) +54.84%.
TSXV Rare-earth Metals Company Medallion Resources Breaks Out While Ximen Mining Falls
Rare-earth metals companies have come into the spotlight recently, following China’s threats to cut off rare-earth metals exports to the United States.
Via The Economist,
“Rare earths, covering 17 elements on the periodic table, are in fact common. But China holds two-fifths of global reserves. In 1992 Deng Xiaoping quipped that “the Middle East has oil, China has rare earths.” The chemicals used to extract them from the ore create toxic run-off, and for years China was more willing to bear that cost than other countries.
By the early 2000s it accounted for almost all the world’s production.“
Restricting exports of valuable rare-earth metals would be a significant escalation in the U.S.-China trade war.
“In theory, China could harm U.S. industry by banning sales of elements such as neodymium and praseodymium used to make high-strength permanent magnets found in every electric motor, including those in renewable energy wind turbines and electric cars.
But if that happens there is certain to be a competitive reaction, as there was in 2011 when China last played its rare earth card, creating perfect conditions for rival producers to enter the market, which is exactly what happened.”
Although Canada is far from being a significant competitor in the rare-earth metals industry, the possibility of China banning rare-earth metals exports has given new attention to TSXV rare-earth metals companies like Medallion Resources. With an increase of 41.18% today, Medallion Resources had the biggest breakout in Stock Challenge, reaching a new 52-week high of 0.24 on strong volume of 1.14 million.
On the other hand, Ximen Mining Corp. suffered the biggest loss today, shedding 14.63% to fall from 0.41 to 0.35. The company recently retained RADIUS IR for Investor Relations.
Who will take home first-place in the June 2019 Stock Challenge? Only 11 trading days remain…