I find it hard to listen to every pump when not all the information is discussed in a company, with out talking about the whole sector, (hard questions). It has value in bringing a discussion forward in topics. Lets not forget water started to trade in futures, in California, as it become rare! All mines require water in the operations!

interesting. I will look into that

Find any helpful info in your exploration of the issue, Jack?

Buy PICO then

That is always the play, like BHP diamonds, hold back to keep prices inflated! This is China...the long game of GO.....

Hi Patrick, thank you for sharing your feedback, I always welcome constructive criticism (I really do). And judging by the like ratio of your comment, others feel the same way. Which means a lot to me. I think I could've asked James a few more hardball questions. Such as "When can you see your company having problems?" and "is China's lead insurmountable?" That being said, one of the things I've noted that most successful interviews on Real Vision have is that they rely on a certain amount of goodwill between the guests. For example, Kiril Sokoloff's wonderful conversation with Stan Druckenmiller, which many consider the flagship example of Real Vision at its best (to be clear - *not* comparing me to Kiril or James to Druck. Merely comparing the "vibe" or "spirit" of the interview). So to me your criticism is less poignant for the style (since the style has worked in countless interviews beforehand) and more a criticism of the type of guest we have on - CEOs rather than investors, who are the normal type of RV guests. CEOs i.e. people who have perhaps *too* much in the game, who can never exit their position, etc. For example, you get the CEO of Ford on, they are going to say that the future of cars is electric vehicles and that it's in Detroit, 10 times out of 10 (h/t Wiethe). I do think James is *literally* the perfect person to bridge that gap. He ran a billion dollar hedge fund successfully for many years, and he stumbled upon an asset that he perceived was simply too good so he became the CEO of it. And if you listen, he speaks like an investor, not a CEO. Sure, he is incentivized for the company to do well, but so is anyone who owns the stock or any other stock. A lot of people talk their book. I might add - we have had a lot of precious metals CEOs on Real Vision. And in some cases the interview is even more charitable to them than I was to James. I gave James the chance to tell his story. Yes, I extended him some courtesy. But I think I got a lot in return for my goodwill. He went in detail on SPACs, ESG, and electric vehicles in a way he hasn't in any other interview. He's done a lot of 3-minute hits on CNBC and the like but no one has gotten him to go in-depth on these key issues. So I am proud of the interview for that. At the end of the day, Patrick, I do hear your point. I welcome the feedback of all Real Vision members but the fact that you are a shareholder in MP makes me reconsider how I conducted that interview. I should have pushed back more, and I am sure James would have had very thought-provoking answers that would have made the conversation even more fruitful. I too cringe when I'm watching CNBC and a host says "I was just talking to [CEO of some company trading at 50x Price-to-sales] and they are an absolute genius." So I am very sensitive to your point. Thanks for sharing your perspective, and if you (or anyone else) wants to give me more feedback please do so, I welcome it. Either comment here or DM me on the Exchange. Thank you.

Overall very informative and in the coming weeks I will probably buy few shares as well. I really like the high grades which means the company can survive If there is downturn which I can’t see. At same time I agree that young Jack could have asked few tough ones. Afterall the CEO is seating on the other side so press him with few curly questions. Having said all this I do like James. He sounds genuine. I don’t think he is smooth talker (as per some comments further up or down) or snake oil salesman. I find him to be competent and brave too. James and his team managed to turn the company and their investment around and he deserves credit. I am yet to look at their books but I doubt he will be claiming to be making profit on RV if he doesn’t. Important question is how much profit and what are the costs compared to other rare earth operations. As high grade operation this joint should have really fat margins. I would expect that.

Hi Jack and thanks for understanding that it is constructive criticism. One additional comment. You said. "So to me your criticism is less poignant for the style (since the style has worked in countless interviews beforehand) and more a criticism of the type of guest we have on - CEOs rather than investors, who are the normal type of RV guests. CEOs i.e. people who have perhaps *too* much in the game, who can never exit their position, etc. For example, you get the CEO of Ford on, they are going to say that the future of cars is electric vehicles and that it's in Detroit, 10 times out of 10 (h/t Wiethe)." In fact as someone who has worked in the mining industry for decades (ouch, that hurts to say that,) I want an interviewer to bring out the best information form the CEO not be a cheerleader. Often there is more pushback on investors than there was on James. If I have a meeting with an investor who spends an hour cheerleading my company, I often just shut up and let him/her take over the cheerleading. (One of us is superfluous.) Enough said. Cheers

Understood, thanks Patrick

They reported a net income loss of 45.9 million dollars for the first three quarters. But this is including a $66 million one-time charge they paid to their Chinese marketer and distributor, Leshan Shenghe Rare Earth Co., Ltd. It's my understanding that this sum was paid to Shengehe in order to renegotiate a 2017 deal whereby Shenghe would have have received 35% of net profits from resulting sales up until 2047. So basically a royalty. If you don't include this one-time charge, the company has made just over $20 million dollars this year. Their official adjusted EBITDA is $24.6 million, adjusted for tarriffs, depreciation, etc.

Too Big to Fail is a very well-researched book. TBTF + The Devils are Here by Bethany McLean is the best two-punch combo to understand the Great Financial Crisis, in my view. Big short as well obviously

https://www.realvision.com/shows/discoveries/videos/the-rare-earth-metal-megatrend

Beat me to it! Thanks Max