The Index
400 dossiers · 1 need attention
A research screener for every company we cover. Search a name or ticker, then sort and triage dossiers by coverage freshness, our conviction and trading relevance.
critical-materials14 names· avg TR 8 | ||||||||
| The only Western "mine-to-magnet" pure-play levered specifically to HEAVY rare earths (Dy/Tb) — whose ex-China prices have ~doubled in 2026 (Dy ~US$930/kg, Tb ~US$4,028/kg) — via China's own low-cost ionic-clay geology; but it is a pre-revenue developer that has already re-rated ~5x to a ~CA$1.1B cap, owns a Chilean asset 99% of the local community voted against, faces MP Materials commissioning its own US HREE separation by mid-2026, and must fund a >US$1.5B integrated build off a ~US$40M cash balance with no binding offtake. Asymmetric optionality, not yet a position. | — | 8 | ||||||
| A binary supply-shock proxy — the only Western-aligned tungsten scale producer ramping into a 550%-China-driven price spike, but priced at ~150x trailing sales on a single-mine ramp; own the commodity thesis, not this multiple — a quarter of Sangdong slippage or one China de-escalation re-rates it 40%+. | — | 8 | ||||||
| The highest-grade tin mine on earth, throwing off >$600M annualised EBITDA at a 6.7x P/E — and it sits 180km from an active M23 front line in the eastern DRC, now 56%-owned by Abu Dhabi. The discount is the country, not the company; you are paid ~6.5% to wait, but a single security headline can halve it overnight. | — | 8 | ||||||
| A three-engine critical-materials conglomerate whose 2025–26 earnings are flattered by a transient antimony windfall while its real long-duration call options (European LiOH at Bitterfeld, spent-catalyst vanadium recycling, the Saudi Supercenter) are still pre-cash-flow — own the structural story, but underwrite the cycle, not the print. | — | 8 | ||||||
| A copper pure-play being born inside an iron-ore company — own the re-rate that completes when Anglo Teck closes, not the diversified miner that's disappearing. | — | 8 | ||||||
| A best-in-class, Luksic-controlled Chilean copper pure-play priced for the 30% volume ramp it has not yet delivered — own the asset, not this multiple; the entry is a copper-price dip or a Centinela-2 commissioning wobble, not 14x EV/EBITDA on a name that just missed guidance again. | — | 8 | ||||||
| A 38-year, $1.7B-NPV NdPr asset that the equity market is pricing as a serial dilution machine — the call is on financing-close + China's price floor, not the ore body. WATCHING into FID-completion; the project is fundable, the share count is the bear case. | — | 8 | ||||||
| A self-help margin re-rating priced as a doomed smelter — the $0 TC/RC tape masks that Aurubis already earns more from downstream premiums, recycling and a finished $1.7B capex cycle than from the concentrate spread the bears fixate on; watching, not yet a buy, because the metal-price tailwind that lifted FY25/26 guidance twice is the same lever that breaks on a copper pullback. | — | 8 | ||||||
| A best-in-class integrated Nordic miner-smelter whose precious-metal-rich, e-scrap-fed smelter chain is the rare structural winner of the negative-TC era — but at ~21x P/E and a price above the average analyst target, the stock already prices the gold-silver windfall, not the smelter-margin reset risk and post-fire/post-acquisition execution debt. | — | 8 | ||||||
| World's #2 nickel reserve at first-quartile cost with state backing — but a US$2.5bn funding gap on a ~C$400m shell means the entire bet is binary on the 2026 financing close, not the geology. | — | 8 | ||||||
| A leveraged, pure-play Americas copper call trading at a mid-tier P/NAV discount — own it for the deficit and the MV-Optimized/Santo Domingo growth stack, but the entry price is now a bet that record copper holds, not that the assets are cheap. | — | 8 | ||||||
| The world's largest rare-earth producer is a state policy instrument, not a shareholder vehicle — at P/E ~66 / ~$25B cap on ~7% ROE you are paying a growth multiple for a margin that its own parent (Baogang) taxes away one concentrate hike at a time. Own the NdPr theme through a price-taker, not this price-maker-that-isn't. | — | 8 | ||||||
| World's #1 cobalt + a top-tier DRC copper grower trading at a deep state-owned/jurisdiction discount (~4-9x P/E vs 12-22x peers) — the value gap is the thesis; the DRC quota regime and Beijing's hand on the till are the reasons it persists. | — | 8 | ||||||
| A genuinely strategic Western heavy-rare-earth asset wrapped in a serial-promoter, pre-revenue, dilution-machine equity — the deposit is real, the metallurgy and the 2029 cash-flow date are not yet, and the stock already prices a permitting+offtake fairy-tale at ~$1.5B with $0 revenue; WATCHING, would only own on a proven-metallurgy or fully-funded BFS catalyst. | — | 8 | ||||||