RAREEARTH Asset Backed Security (ABS) - Closed

[Btc4Domains]

RAREEARTH Assets Issued/Outstanding: None

RAREEARTH was a 100% physical metals backed BTC loan instrument I was running on GLBSE - (which abruptly shut down!). All RAREEARTH asset holders whom I am aware of have been paid out their interest and principal in full.

At some point in the future I may relaunch this asset. If and when I do, I will make an announcement here.
Thanks to those who invested in RAREEARTH.

[1715428235]

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[1715428235]

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[Ben Walsh (beamer)]

Once you are verified on GLBSE I will begin investing.
I want some exposure to rare earth elements, however, I am not willing to invest anything in an asset which is completely unverified.
The amount I will invest depends on the risk which depends completely on how many of the verification steps you complete.

When do you expect to have completed one of the verification steps and when do you expect to have completed them all ?

[Sukrim]

As far as I understand the various "GOLD/SILVER/RAREEARTH/..." Tickers, you are NOT investing in the commodity listed (in this case rare earths) but these are BACKED by rare earth assets. The actual business (that returns 0.77% per week) is potentially completely unrelated and unknown so far.

[Ben Walsh (beamer)]

Potato / Potatoe, Tomato / Tomatoe :O) ... I get what you mean though ... all incorporated into the current risk assessment ;O)

I'd quite like to invest a bit in the BIOETHANOL asset too, but there is a similar lack of verification and information in general.

Meh ... BTCs waiting guys/gals ...

As far as I understand the various "GOLD/SILVER/RAREEARTH/..." Tickers, you are NOT investing in the commodity listed (in this case rare earths) but these are BACKED by rare earth assets. The actual business (that returns 0.77% per week) is potentially completely unrelated and unknown so far.

[Btc4Domains]

Hi, I've submitted my Australian Passport and Drivers License to Nefario but I don't think these details have been updated for any of the Metals assets just yet. I've offered to verify my home address in China, Home phone, Mobile phone but the calls haven't been done just yet. I don't use Facebook or Linked In - those two are the only verification documents I can't provide. I will send Nefario company, trust and metal account information too but there's no category as yet for this form of verification on GLBSE.

For all of the Metals assets I DO plan to keep investing in the metals. Before starting these I sold two thirds or more of the Gold and Silver that I had and put it into bitcoin. Platinum, Palladium and Rare Earths are new for me but are investment areas I've long been interested in. BTC Capital raised on all the Metals assets will be invested in Bitcoin related investments - after the interest payments to the holders a portion of what I make each month will go into more metals.

[Btc4Domains]

Third RAREEARTH interest payment has just gone out.

[Btc4Domains]

I've increased the weekly interest rate payment for RAREEARTH holders to 0.93%, up from 0.77% starting with payment due this coming Thursday. I've also updated the top post with Buy back details for anyone in need of selling their RAREEARTH. Also, have purchased Tantalum, Tellurium, Indium, Gallium & Ruthenium weight over the past couple of weeks which is being stored here in China. Quantities have been updated in the top post. Thank you to those of you who are holding RAREEARTH.

[wirmola]

very nice.. I bought a few.. will buy more asap/...

[Btc4Domains]

For those interested. I've been hunting around for rare earth testing services. SGS who some people might already be familiar with have 30+ offices around China - but they are very expensive - 1300 RMB upwards per sample. A better priced option is these guys: http://english.sim.ac.cn Chinese Academy of Sciences. They test most metals for 300 RMB per sample.

[Btc4Domains]

UPDATE: For those holding RAREEARTH. I am waiting on account details from Nefario so I can pay out the face value of all RAREEARTH assets plus the interest payments owing from the 4th and 11th of October 2012.

[Btc4Domains]

UPDATE: it has taken nearly 11 weeks to receive a list of RAREEARTH Asset holders from glbse - I have sent through a payment to all holders being 11 weeks of unpaid interest @ 0.93% plus the face/issue value of the assets held by each respective holder. The interest and principal are lumped into 1 single payment to make things a little faster. glbse indicated that there may be others - if so they will be paid out accordingly. No further interest will be payable beyond the current week. Thanks for your patience!

[MPOE-PR]

UPDATE: it has taken nearly 11 weeks to receive a list of RAREEARTH Asset holders from glbse - I have sent through a payment to all holders being 11 weeks of unpaid interest @ 0.93% plus the face/issue value of the assets held by each respective holder. The interest and principal are lumped into 1 single payment to make things a little faster. glbse indicated that there may be others - if so they will be paid out accordingly. No further interest will be payable beyond the current week. Thanks for your patience!

Are you in the WOT?

[Btc4Domains]

WOT - no..

A few new RAREEARTH accounts were sent to me recently in a "final" list of holders - all have been paid and those without payment address emailed..