The eruption of media anxietylast summer about the future of rare earth supply has awakened market interest in a dozen or so Australian and Canadian resource juniors who had already acquired or discovered rare earth deposits, and it has unleashed a scramble to track down other forgotten deposits outside of China and explore for new deposits. We created the KBFO Rare Earth Index to track the market performance of companies with the more advanced projects. The steep 691 % gain posted by the index in 2009 prompted many observers to talk about a "rare earth bubble," which is to suggest that valuations are excessive and unsustainable.
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