Quest Rare Minerals (TSE:QRM)(AMEX:QRM) was featured in The Globe and Mail: Mining today.
The feature said: "In the heavy rare earths, one Canadian miner appears closer than most to becoming a major player. Quest Rare Minerals
Ltd. says its Strange Lake Deposit in Northern Quebec could supply as
much as 10 per cent of global demand for rare earths once it is up and
running, and as much as 30 percent of demand for the more pricey heavy
CEO Peter Cashin was quoted as saying in a recent interview that the
deposit holds a large resource, that "obviously will be able to deliver
and satisfy a long-term shortfall."
To read the feature, click here: http://www.theglobeandmail.com/report-on-business/canadian-miner-vies-to-be-major-rare-earth-supplier/article2405521/
As at January 31, 2012, Quest had a total of $42.3 million in cash and Canadian provincial and AAA-rated corporate bonds.
The company is currently advancing the Strange Lake and Misery Lake
areas of northeastern Quebec. Quest's 2009 exploration led to the
discovery of the significant rare earth metal deposit, the B-Zone, on
its Strange Lake property.
The B-Zone deposit is one of the largest heavy rare earth resources
in the world and is exposed at surface and amenable to a low-cost open
pit mine. It has the potential to provide a long-term, stable supply of
separated and refined heavy rare earths.
Quest is advancing the project to deliver a pre-feasibility study
(PFS) for the deposit in the second half of 2012. At that time, the
company is expected to have a more accurate idea as to the delivery
timelines for its definitive feasibility study and for mine start-up.
Rare earths are a group elements critical in the development of clean
energy technologies including electronics, hybrid vehicles, permanent
magnets, green energy platforms and advanced technologies for national
With China, the biggest supplier of the metals, cutting back sharply
on exports, development of rare earths outside China are becoming an
The Strange Lake property, located 220 km northeast of Schefferville and 125 km west of the Voisey Bay Nickel-Copper-Cobalt Mine, covers an area of 54,000 hectares.
In April 2010, an NI 43-101 preliminary resource estimate of the B
Zone completed by Wardrop Engineering indicated that at a 0.95% total
rare earth oxides (TREO) base-case cut-off grade, the B Zone contains an
indicated resource of 36.4 million tonnes grading 1.16% TREO, 2.17%
zirconium oxide, 0.24% niobium pentoxide, 0.05% hafnium oxide and 0.12%