New Sources of Rare Earths a Major Factor in the Decline of Rare Earth Prices
Five Star Equities Provides Stock Research on Rare Element Resources and Great Western Minerals
NEW YORK, NY -- (Marketwire) -- 02/25/13 -- 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 Rare Element Resources Ltd. (NYSE: REE) and Great Western Minerals Group Ltd. (PINKSHEETS: GWMGF) (TSX VENTURE: GWG)
The federal government has recently approved U.S.-based Rare Earths Inc. 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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Rare Element Resources is a mineral resource company focused on exploration and development of rare-earth elements (REEs), with a significant distribution of critical rare earths (CREEs). The company's Board of Directors has approved a budget of approximately US $25 million for 2013. A "vast majority" of the budget will be focused on the development of the Bull Hill and Whitetail Ridge rare earth resource areas.
Great Western Minerals Group, through its subsidiaries, engages in the exploration and development of rare earth elements, base metals, and precious metals in Canada, the United States, the United Kingdom, and South Africa. The company has moved its target date for the release of their Preliminary Economics Assessment to the end of the first quarter 2013.
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