SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Feb 27, 2013) - The Rare Earths Industry has struggled this past year as a flood of new production and reserves from outside China has seen prices significantly drop from their highs in 2011. The Market Vectors Rare Earth/Strategic Metals ETF (REMX) has fallen 7.5 percent year-to-date, and over 30 percent in the past year. Five Star Equities examines the outlook for companies in the Rare Earths Industry and provides equity research on Quest Rare Minerals Ltd. (NYSE: QRM) (TSX: QRM) and Ucore Rare Metals Inc. (PINKSHEETS: UURAF) (TSX VENTURE: UCU).
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The federal government has recently approved U.S.-based Rare Earths Inc.'s request to drill for rare earth minerals along the Idaho/Montana border. Rare Earths is a mineral exploration company that holds over 12,000 acres of mining claims for rare-earth elements in Colorado, Idaho and Montana. Additionally, Ucore Rare Metals Inc. plans to commence production from their Alaskan Bokan project by 2016.
According to Rare Earth Investing News, citing a Metal Pages report, the Russian Government has recently passed a $4.87 billion REE and rare metals production investment program. By 2020, Russia hopes to enter the global rare earth market.
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Quest Rare Minerals is a Canadian-based, exploration company focused on the identification and discovery of new world-class Rare Earth deposit opportunities. The company expects to deliver the pre-feasibility study for its Strange Lake Project within six months. The Strange Lake property covers an area of 54,000 hectares.
Ucore's primary focus is the 100% owned Bokan - Dotson Ridge REE property in Alaska. The Bokan - Dotson ridge REE project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in developing near term production facilities and limiting the capital costs associated with mine construction.
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