Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of rare-earth miner Molycorp
So what: Today's news was a joint venture agreement with Japan's Hitachi Metals that will put Molycorp closer to its goal of doing more than just mining rare earths. The JV would produce rare-earth magnets that could be sold to a variety of industries including technology, health care, and alternative energy. For Molycorp, the move fits with a strategy that it calls "mine-to-magnets."
Now what: It's all very exciting with Molycorp -- the upcoming reopening of its Mountain Pass mine, the lingering questions about the supply of rare earths coming from China, and, of course, the soaring share prices of Molycorp and rare-earth-related investments like Rare Element Resources
Want to keep up to date on Molycorp? Add it to your watchlist.