Just watching this one for now

Wow. I think they could make a movie regarding Northern Materials (NTU)!!!

NTU are an Australian junior miner of rare earths (Dysprosium & Terbium) which are critical to high performance magnet production. I don't believe they have ever produced anything. But they are sitting on nice rare earth deposits - Two in WA and one in NT.

I can't remember all the exact timelines...so please DYOR is you want exact dates/timelines/story.

But about 1-2 years ago, when I was researching rare earths, I came across Northern Materials (formerly Northern Metals). And Illuka had just signed some sort of non binding agreement to process some of their rare earths.

So i was kind of interested.

Then I saw that there were some issues with China. My notes, around 1-2 years ago were "Chinese blocked from further investment. They wanted to go from 9% to 19%. "

Then it looked like they had another couple of years before they were ready to start signing binding agreements. So I kind of stopped following them.

But since the Foreign Investment Review Board (FIRB) stopped China from buying more of NTU around 1-2 years ago, they tried to hide it from the regaulators and NTU by buying shares through a web of interelated off shore companies!!!

Then a few months ago, the NTU CEO started calling out to ASIC, FIRB and anyone that would listen...that his company was being taken over illegally by the Chinese. This was reported widely. He has also been publically stating that China is rigging the rare earth market.

The NTU management used every trick in the book, to keep pushing back the AGM, where he was likely to be voted out by the Chinese.

Anyway...the Aust Govt finally acted a few days ago. The Treasurer has give a compulsary Sell Down Order to the chinese investors!

So i thought....wow....here is a chance to buy some cheap rare earth shares in NTU. And the SP has gone up!!!

I hope ASIC are watching closely. This stinks big time!

I'm keeping my powder dry...and will watch over the next couple of months.

And then yesterday, it was announced that NTU had been hacked! Presumably by the Chinese.

Maybe Netflix have been buying shares....so they can control the ending of the story?

https://www.afr.com/companies/mining/iluka-boss-calls-out-china-s-infiltration-of-rare-earths-in-australia-20240507-p5fplq

https://www.afr.com/politics/federal/crackdown-on-chinese-investors-a-cautionary-tale-20240603-p5jisr

Production of heavy Rare Earth Carbonate from Browns Range exceeds 210,000kg

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02355935-6A1025529?access_token=83ff96335c2d45a094df02a206a39ff4

Highlights

•  A shipment of 40,406kg of heavy Rare Earth Carbonate (REC) containing 1,835kg of dysprosium and 233kg of terbium is ready for delivery to thyssenkrupp;
•  This brings the total REC produced at the Company’s 100% owned Browns Range Project to 211,109kg;
•  The total REC produced contained 103,731kg of Rare Earth Oxides, which includes 9,751kg of dysprosium and 1,245kg of terbium;
•  Both dysprosium and terbium are critical elements in the permanent magnet motors used in E-mobility powertrain applications;
•  By 2030, the global light vehicle EV market is expected to be dominated by permanent magnet motor powertrains with more than 75% share of the market forecast; and
•  Additional supply from the rare-earths industry is required for the rapidly increasing demand for dysprosium and terbium.

DISC: Small holding