Question: Why Hallgarten20 Feb 2025 06:48
I have been asking myself “Why, where and when did all of this negative FUD originate from?”.
I now believe that I have found the answer in some “Reviews” which were published by a mob calling themselves “Hallgarten and Company ~ London, Buenos Aires and New York”. Sounds impressive, but in actual fact they are just a husband and wife team cobbling together what they call “Research Reports” for anybody willing to buy them breakfast. The whole operation is run out of their home in Andover Hampshire! (Companies house has the details).
As a matter of interest these “Reports” often contain a section that offers what they like to call a “Model Resource Portfolio”. I might add, it is explicitly stated, in a very convoluted “Disclaimer”, that nothing in these “Reports” should be taken for“Investment advice”. Which is actually very good advice, seeing as anybody who followed last months Portfolio would find that they are now down around 6%. Another reason for this “Disclaimer”, might be that the person putting these “Reports” together, appears to have no formal qualifications in Mining or Finance, and appears to be merely copying, compiling and reformatting information that has been fed to them by the subject Company; hardly what anybody would call “Independent Analysis”.
Anyhow, back in early 2021, Hallgarten & Co published a series of (highly positive) Reports on three “RE companies : RBW, ARR and IXR, and one (very negative, Short) MP Materials, Really ! Three of the lowest grades IAC RE deposits in the World, (two of which have already been mothballed) against what is still the highest valued RE miner in the Western World.
Now, one of those reports ~ initially contained the following table:
Wednesday, March 17, 2021 Hallgarten & Company – Portfolio Strategy Page 22
https://hallgartenco.com/pdf/RareEarths/Ionic_March2021_final
Despite Hallgarten publishing over 40 Rare Earth/Mining Reviews over the last 6 years, the only references that I can find to Pensana appear (below)! That suggests to me, that the Authors either have avoidance issues with Pensana's management, are totally incompetent “Researchers”, or are making their opinions known on other forums ?
So looking at what can be found on social media 4th May 2021
https://x.com/hallgartenco/status/1389569115933880321
Then on 13th May 2021, a tweet which contained a revision of that table above
https://x.com/hallgartenco/status/1392740422947119106
Notice anything different? Somebody has slipped Longonjo into that table; and not only that, they have put in totally incorrect data for PRE ( TREO should be 2.45% at a 0.2% cut off).
This was followed by yet another social media attack on Roskil/Pensana on the 15th June 2021.
https://x.com/hallgartenco/status/1404454070262325258
There is loads more, which I will leave for another day as it includes links to Texas Rare Earths, Jack Lifton and our friends