The International Speculator, in its April 4, 2013, issue, refreshes its buy of Andre Gauthier's Matamec Explorations Inc. at 19 cents, officially, "Hold/buy first tranche/prepare stink bid." The newsletter said buy on Feb. 6, 2013, at 17 cents. Assuming an investment of $1,000, the buy is worth $1,107. The writer notes that Matamec's feasibility study on the Kipawa heavy rare-earth project at Temiscaming, Que., remains on schedule for completion at the end of second-quarter 2013. He says metallurgical results has solved "major choke points," but offers no further details. Matamec has $3-million in cash, but it is mainly using "OPM," an insiderish reference to other people's money. The Kipawa deposit contains 63,850 tonnes of total rare-earth oxide (TREO) in the NI 43-101 indicated category and 17,780 tonnes in the inferred category, at a cut-off of 0.3 per cent TREOs. Though market interest in rare-earth companies has fallen, the writer thinks Matamec is trading at a fraction of any reasonable valuation. The risk is a policy reversal on REE exports in China and economic woes generally.