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And some say Yangibana is worthless... ;-) Looks to me that they could be timing their BFS for the next rare earth spike - or perhaps they are waiting for us to be able to be in a position to help fund? Not thought of it that way round before! In the mean-time keep drilling... Can't quite understand why the market appears to be discounting our 30% Yangibana holding . Probably due to its unhealthy self-fulfilling obsession with 0.5p - which I'm probably unwittingly helping to propagate... When it goes this share really could fly. A coiled spring I tells you! ;-)

From the REM board: observer842 ==== Cheers @GoldenX! "Introducing the Cornwall Local Energy Market: £19m programme to explore flexible, smart energy solutions for the UK." www.centrica.com/takecontrol https://www.centrica.com/about-us/what-we-do/distributed-energy-and-power/building-new-energy-future === PROJECT UPDATE, FEBRUARY 2017 We’re now taking applications from local businesses and other large energy users to take part in the trial. A total funding pot of £6m is to be made available to cover the cost of a variety of initiatives including energy audits, smart technology upgrades and new energy storage units. === One for me to share on the INSP board me thinks... ;-) Hopefully the study will be able to conclude at what price points various combinations are attractive. i.e. perhaps using batteries isn't particularly beneficial at today's costs for all British householders - but in a few years? Using an Inspirit Charger today would almost certainly be cost beneficial if only it were commercially available! ;-) Ob. ===== I wonder which mCHP's are involved - probably a little too wishful thinking to hope the Inspirit Charger! ;-) === The trial will test a variety of different technologies in both domestic and commercial environments so we can learn how the platform will work in a wide range of circumstances. We would anticipate that homeowners would typically be looking for us to automate the process as much as possible, while a business might need or want more control. For example, we might offer a homeowner a new micro-CHP unit that allows them to generate their own energy. We could then automate the process so the unit fires up at peak times of demand on the network and therefore relives the pressure on the grid. Providing this service, could secure the householder a payment, resulting in lower fuel bills. On the other hand, a business owner might combine their existing on-site generation such as a back-up generator with a new energy storage unit and choose to make the decision themselves about whether to export any excess energy to the grid and make some money, or store it for use on-site at a later time. === Ob

I presume you mean this FT article @Barksy "Electric cars: China’s battle for the battery market". I wonder whose interests it is in for various news outlets (including the FT) to keep regurgitating the original gigafactory 1 plans of 35GWh per year at full capacity, when the various evidence points to Tesla now planning for 150GWh at full capacity in around 2020? e.g.: "Tesla Gigafactory: the Potemkin village looks more like a burgeoning city as workers start production" (Feb. 11th 2017) https://electrek.co/2017/02/11/tesla-gigafactory-potemkin-village-or-burgeoning-city/ === Ultimately, the Gigafactory need to employ over 6,500 people under its deal with the state of Nevada, but the company sees a potential for as many as 10,000 employees following their updated plan to produce 150 GWh of battery capacity at full production in 2020. === I guess none of the incumbents can see how it is possible to ramp up from 35GWh to 150GWh yearly production in a space of 2-3 years... A bit odd really. I wonder if they didn't get the memo that the gigafactory might have a speed dial to tune the rate of battery cell production to that of (monthly/quarterly?) anticipated demand. It's not as if Elon hasn't mentioned this new 21st century manufacturing paradigm before now... Unfortunately the only reference I can find for that on the web is by someone called observer842...: observer842@13 Jan '17 === Interesting Q&A: Musk clearly likes his design and manufacturing from first principles! My take home point, other than the possibility of future gigafactories being built in proximity to the raw materials: ("on a mine"!), is that it's quite likely the factory will have a speed dial - if the demand is there: turn up the knob: go faster - no extra CAPEX required. I wonder if that is how they plan to get from 35GWh to 150GWh? He did mention a factor of 5 in an example earlier on in the talk: so he might have that in his mind: speed 1 being the base 35GWh; speed 5: 150GWh? Makes perfect sense of course: only once Musk has said it though! Most everyone else thinks - more demand, more or larger factories = additional CAPEX. === observer842@16 Jan '17 === Spot on @tomcat! Just how many fingers, in how many pies will we have by the time the world realises just how fast the Lithium demand is ramping up! We'll soon find out if Elon's thoughts on how factories *should* be designed were applied to the gigafactory 1 if/when he announces that the completed 35GWh factory has (ta-da!) a speed dial capable of taking production from 35GWh a year to 150GWh if the demand is there... I'm still astounded by that. Makes perfect sense of course: a factory which produces at the rate of demand! The world should be ashamed of itself for not thinking of that sooner. ;-) === Perhaps no-one else thought this was important enough to comment on...? Ob.

Thanks for the kind remarks everyone! Couple of articles from http://www.energy-storage.news/ which I recommend following "Australia�s household solar-plus-storage market grew more than 1000% in 2016" (20 Feb 2017) http://www.energy-storage.news/news/australias-household-solar-plus-storage-market-grew-more-than-1000-in-2016 === Consultancy SunWiz found that in 2016, around 6,750 batteries were installed in Australian households, compared to just 500 in the previous year. Assuming the average battery storage system to be around 7.7kWh to allow for meaningful self-consumption of solar, this equates to more than 50GWh of installed energy storage systems. === Shame they can't do maths - it's 50MWh, but you get the point, exponential explosive growth. "Tesla Powerpack to enter UK�s FFR market with Open Energi technology" (28 Feb 2017) http://www.energy-storage.news/news/tesla-powerpack-to-enter-uks-ffr-market-with-open-energi-technology === Dan Taylor, managing director at CES, said: �We have ambitious deployment targets for energy storage in the UK and this successful project is an exciting step forward for us and the industry. It demonstrates the vital role of energy storage in delivering secure, low carbon power to the UK. �We are aiming to co-locate further energy storage with renewable generation throughout the UK and help make our electricity system fit for the future.� === We all probably saw this last week, but worth quoting the important bit: "Bigger than Giga: Tesla�s plan for 3 more battery megafactories" (2nd March 2017) http://benchmarkminerals.com/bigger-than-giga-teslas-plan-for-3-more-battery-megafactories/ === At the moment, a Gigafactory at capacity would not be able to source the lithium hydroxide needed. It simply does not exist in a lithium market that is operating very close to capacity. === and one for those who think Yangibana is worthless (!?) "The US rare earth vulnerability and mammoth battery supply disconnect" (February 02, 2017) https://investorintel.com/sectors/technology-metals/technology-metals-intel/us-vulnerability-mammoth-battery-disconnect-rare-earth-supply/ === The thesis is rather simple. If you believe that we are on the cusp (or indeed already in) of a massive surge in adoption of EVs and HEVs and therefore the batteries for these vehicles (primarily the Li-Ion battery format) will rule the Earth then how can one not also posit that the type of engine that dominates the same vehicles will have a proportionate need for the Rare Earth magnets produced from Neodymium and Praseodymium. If one is disturbed by potential shortages of Lithium and Cobalt, then why no sleepless nights about Rare Earths? === Worth a full read! I've also just posted an interesting energy storage article on the INSP board. It has relevance here, but I decided more "upbeat" for INSP! ;-) Ob.

Power to gas is important for INSP - A carbon neutral, potentially negative Inspirit Charger, with pay back times of the order of a few years without FiTs, makes our technology a potentially very economically attractive *green* proposition. "Power-to-gas: the remaining critical ingredient in the energy transition" (March 02, 2017) https://www.carboncommentary.com/blog/2017/3/2/cgb0bbx2uyubc858ubthhxegtd41n0 === I want to put forward the view that there is only one way to deal with this problem. When power is in surplus, it needs to be turned into natural gas. This will reduce the amount of excess electricity and provide renewable gas for burning in power stations when renewables are in short supply. ‘Power-to-gas’ is the critical remaining ingredient of the energy transition. Can I put this as strongly as I can? Without a rapid and whole-hearted commitment to this technology, the renewables revolution may ultimately fail. ... The evolution of power markets is pushing the typical short-term wholesale price of electricity down to historically unprecedented levels. At the same time, the commercial and household price of power is rising as subsidy and electricity network costs rise as the renewables revolution takes hold. The low wholesale price of power at times of wind or of strong sun means that making hydrogen from electrolysis is often cheaper than using natural gas. And as wind and solar capacity rises, this reversal of usual pricing differences is going to happen far more frequently. ... To most people in the utility industry, the idea that it can possibly make sense to use valuable electricity to make cheap natural gas still seems absurd. They aren’t looking at the charts, I say. ... We really need this to happen. First, it means we can happily heat buildings with low carbon electricity, even without the advantages of heat pumps. More important, it means that instead of using fossil natural gas for power and heat generation, we can use renewable natural gas instead, particularly when power is costly because of lack of wind and sun. === The author is missing the H21 Leeds link, and where mCHP's fit into all of this, but other than that - a great article which I highly recommend! There is lots of money to be made from whoever gets what's likely coming and where our world beating technology fits into all of this - in the back of my mind I do wonder about this fairly innocuous one-liner: "Inspirit is in discussions with a multinational that may lead to significant manufacturing agreements in the future" from the Align report. Perhaps the discussions are very advanced and silence is mandated at this critical juncture? Wishful thinking? Perhaps, perhaps not! ;-) Ob.

Indeed @Barksy! For those of you that like thinking about the future - I recommend following https://www.exponentialinvestor.com/ Your post reminded me of this article: "The art of seeing the invisible" (3rd February 2017) https://www.exponentialinvestor.com/art-seeing-invisible/ === So where next? Where’s the next big, disruptive change coming from? I see two on the horizon. Both present major opportunities. The first, ironically enough, follows the same template as Churchill and Fisher’s move from coal to oil. There are very clear signs we’re approaching a similar tipping point today. The move from fossil fuels to renewables is well under way. The real key to this transition is battery technology – somewhere to store the solar, wind, tidal or other renewable energy until we need it. ... In that world, lithium becomes more valuable than oil. Lithium is a vital component in battery technology (though not the only one). In a world that’s shifting towards renewable energy stored in industrial-scale batteries, you’d expect lithium to become both more valuable and strategically important. === The point being that it is fairly obvious to me that just as coal was replaced by oil, oil is going to be replaced by Solar, and that Solar energy has to be stored in batteries, and if those batteries continue to require lithium - then investing in lithium early, before the herd get it, and I mean really get it, is a no-brainer - sure there are other metals *today* which go into batteries which might be worth looking into, but from what I'm seeing, it's likely to be lithium long term - graphite/cobalt etc, may not be required in future batteries. It is indeed possible that lithium might be replaced - there continues to be talk about substituting for cheaper sodium, but ultimately it'll boil down to a question of whether the end customer would rather have a product - e.g. a mobile phone which can last for 18 hours, or pay a little more for one that can last for 24 hours. i.e. unless prohibitively costly, the battery technology with the highest energy and secondly power density will likely win the day IMHO. Rare Earth Minerals is a great Lithium investment in my opinion, look to our assets - now when are we going to change our name to include Lithium in the title so as not to be overlooked by those looking to invest in the unfolding lithium story?! Of course, the fact we have yet to change our name could very well indicate "something" is still in play... ;-) Ob.

Regarding Enertek, I think we have to assume that didn't go quite to plan... and hence one of the reasons why we still haven't (apparently) commercialised the Inspirit Charger, despite planning to do so by the end of last year. It's certainly a bit odd when you take a look back through all the various news releases, we seem(ed!) to be on track in the summer. e.g.: "On the cusp of cogeneration commercialisation & trading at a fraction of replacement IP cost" (13th June 2016) http://www.alignresearch.co.uk/wp-content/uploads/2016/06/Inspirit-Energy-Align-Research-13th-June-2016-Final.pdf === On the manufacturing side, Inspirit is in discussions with a multinational that may lead to significant manufacturing agreements in the future, although this is in addition to its current manufacturing agreement with UK based partner Malvern Boilers. The initial production run is expected to be between 1,200 to 1,500 units in the first full year. === If we assume(!) the Align Research report isn't full to the brim of porkies, i.e. it contains the truth, and nothing but the truth, albeit that truth being a little bit optimistic in places, then we are where we are today presumably due to unforeseen events and circumstances. I find it quite hard to palate that we are in this situation due to some Machiavellian plan. i.e. scare the PI's into selling their shares through silence and then? And it is likely PI's who are selling, no TR1's of late... So it's likely we are subject to a delay - but either way, the AIM rules clearly state that "An AIM company must issue notification without delay of any new developments which are not public knowledge which, if made public, would be likely to lead to a significant movement in the price of its AIM securities.". We deserve to be told pronto. Bad form on INSP for staying quiet: good news or bad we should be told: we can take it. In fact I'd wager at this share price, even "bad" news now explaining the reason for the delays, coupled with potentially great news about the near future could do wonders for investor sentiment and consequently the share price! In the meantime, INSP remains a hold/buy at this share price, but potentially a strong buy if you are risk/return hungry! I'd say the risk of complete failure from here is considerably smaller than the potential returns if we are able to bring the Inspirit Charger to market. You only need to look to flow to see what kind of gap is being left wide open by our peers with inferior products... What we have is world beating! Just need the likes of the CIBSE to confirm it. ;-) Ob.

If EV/Grid storage follows an S curve adoption, as many expect it will, we could be looking at 10 times more lithium required per year by 2025 than that forecast by those who don't really get it. So what could that mean for us if perceptions change, and all of our lithium is required, and required fast!? From "Drill Programme Completed at the Cinovec Lithium Project" (20 February 2017) http://www.rareearthmineralsplc.com/index.php?cID=287&id=13535925 === The Mexican and Czech deposits have published Indicated and Inferred Mineral Resources more than 15 million tonnes of Lithium Carbonate Equivalent. === It's not specified there how much of that is attributable to REM - I'm sure we could work it out: it's somewhere between 19% and 43%: probably between 25% and 30%. From table 22.4 of the BCN PFS. The baseline post-tax NPV@8% for $6,000 LCE is $542M. It is straightforward to determine that for each $600 increase in LCE this increases by $134M. Therefore if we were to sell for $12,000 the post tax NPV would be: $542M + $134M * (6000 / 600) = $1,882M From table 1.2 of the PFS the North pit contains 1,570kt LCE therefore at a first guess the 15 million Indicated and Inferred Mineral Resources could support around: 15,000kt / 1,570kt = 9.5 nine 35kt/yr plants for 20 years. Therefore with a sale price of $12,000/yr we are talking an NPV today of: $1,882M * 9 * £0.81 = £13.7B ~25-30% of which is attributable to REM ~ £4B. With 7,777,690,338 shares in issue that is: £4,000,000,000 / 7,777,690,338 ~ 50p a share. And we have more to explore - and more than just Sonora and Cinovec under our belt. If you think the lithium (LCE) demand will far outstrip the conservative forecasts of ~500kt/yr by 2025, as I do, perhaps by an order of magnitude more, then surely REM is a massive buy right now? The upsides are out of the ball park - with very little downsides from what I can see. Obviously I've assumed EMH is just another BCN, but from what we've been seeing recently, the costs could be significantly less than BCN's - i.e. that assumption could be on the pessimistic side. Soon we'll have the EMH PFS and BCN will deliver their BFS, eventually... Contract prices appear still to be rising, so delays could turn out to be a good thing of course! The EV companies and battery makers know what is coming by now, it will be their road-maps driving it, they are not stupid, they *will* be securing their resources. Don't let them steal this potentially once in a lifetime investment from under our noses! Of course it will likely come good regardless if the demand is there, but I don't want good, I want great! ;-) Ob.

Thought it worth reposting this (and part of the AIM rules below this): "SMALL CAP IDEAS: Big market awaits for combined heat and power boiler specialist Inspirit Energy" (6 June 2016) http://www.thisismoney.co.uk/money/markets/article-3627456/SMALL-CAP-IDEAS-Big-market-awaits-combined-heat-power-boiler-specialist-Inspirit-Energy.html === It uses the inert gas helium as its driver, so there is no combustion inside the engine. This keeps wear and tear to a minimum and means the sealed unit has a 100,000-hour life with little or no maintenance required. 'We are leagues ahead in terms of maintenance costs, which are incredibly low,' chief executive Gunn said. The Charger�s output is a best-in-class 3 kilowatts of electricity, which is worth around �2,600 to the user without a feed-in tariff or a further �4,500 with the government incentive. 'The competition only works with a tariff,' said Gunn. 'Ours [the Charger system] is economic without it.' That�s because the electricity output from the unit is roughly triple the amount generated by the current offer of micro-CHPs out there in the market. ... Alternatively, the customer gets the unit for free by signing up to a gas and electricity contract offered by one of its partners or lease the appliance directly from Inspirit. 'This is a similar model to that use by the solar and wind [industries],' said Gunn. 'Their payback is seven to ten years, ours is three to four. 'The lease finance model is a strong point as the consumer does not end up paying the high capital cost up front.' === There are more nuggets in the article, but I can't post it all! ;-) Well worth a re-read, and if you aren't already aware of the rules of AIM, worth taking a read of at least this section quoted below "AIM Rules for Companies" (July 2016) http://www.londonstockexchange.com/companies-and-advisors/aim/advisers/aim-notices/aimrulesforcompaniesjan16.pdf === General disclosure of price sensitive information 11. An AIM company must issue notification without delay of any new developments which are not public knowledge which, if made public, would be likely to lead to a significant movement in the price of its AIM securities. By way of example, this may include matters concerning a change in: - its financial condition; - its sphere of activity; - the performance of its business; or - its expectation of its performance. === Ob.

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