SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Nov 12, 2012) - After a strong start to the year rare earth stocks have fallen sharply as new sources of production outside of China has pressured rare earth prices lower. Market Vectors Rare Earth/Strategic Metals ETF (REMX) has fallen over 18 percent year-to-date. The Paragon Report examines investing opportunities in the Rare Earths Industry and provides equity research on Great Western Minerals Group LTD. (PINKSHEETS: GWMGF) (TSX VENTURE: GWG.V) and Quest Rare Minerals Ltd. (NYSE: QRM) (TSX: QRM).
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Rare earths are a group of 17 minerals crucial for the manufacturing of popular products such as hybrid cars, flat-screen TVs and mobile phones. China has been the primary supplier of rare earths responsible for approximately 90 percent of the world rare earth consumption, while only holding a third of the world's reserves. Companies had increased their focus on bringing new rare earth production online after China's decision last year to cut exports boosted prices and sparked concern among overseas users about access to supplies. A Malaysian court has recently approved the start of Lynas' rare earth refinery in northern Pahang state, which will become the first new rare earth source outside of China in years.
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Great Western Minerals Group Ltd. is an integrated rare earth processor. Its specialty alloys are used in the battery, magnet and aerospace industries. In addition to an exploration program at their Steenkampskraal mine, the company also holds interests in four active rare earth exploration and development properties in North America. The company plans to release a Preliminary Economic Assessment during the fourth quarter of 2012.
Quest is currently advancing several high-potential rare earth projects in Canada's premier rare earth exploration areas: the Strange Lake and Misery Lake areas of northeastern Québec. The company has recently reported that a revised resource estimate for the Strange Lake B-Zone deposit has shown a doubling of tonnage.
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