RE: Kendrick: Tier 1 $800M potential Target : Teufelskuppe & Keishohe REE31 May 2026 20:17
I have about as much interest in sharing my view as others should have in reading, but as you asked nicely..
I own over 3m KEN shares and would obviously be delighted to see us reach 25p with the JORC, I think we will probably bust through 15p on pre JORC news flow.
That said, while I agree there is likely more resource potential beyond the current internal ~$400m TK valuation, I struggle to see the logic in doubling, tripling or multiplying numbers by 10 before the data supports it.
For me, Mountain Pass is a useful geological analogy for TK. In terms of ultimate size, I simply do not know yet as we are still very early. In terms of economic value, I certainly hope the comparison proves justified, but that remains to be demonstrated.
I did not hear anything materially new from Bird on The Roast today, aside perhaps from further emphasis on the strength of US interest. If anything, he seemed a little more measured around the Tier 1 language.
Ultimately, everything now depends on the JORC. Until that arrives, I have little interest in excessive speculation. The geology is encouraging, the potential is clear, but the next real milestone is resource definition.