Geomega Resources Inc V.GMA

Alternate Symbol(s): GOMRF

Metals & Mining Industrial Metals & Minerals

Geomega Resources Inc. is a Canada-based company. The Company is engaged in the acquisition, exploration and evaluation of mining properties in Canada. The Company's wholly owned subsidiary Innord Inc, which is engaged in developing technologies for extraction and separation of rare earth elements and other critical and strategic metals from its mining properties and other mining and industrial waste. The Company owns Montviel property, which is located approximately 100 km north of Lebel-sur-Quevillon and 45 km west of the Cree First Nation of Waswanipi. The Montviel property comprises 96 mining claims totaling 5,333 hectares. The project is comprised of 178 cells, for a total of approximately 9,910 hectares.

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Geomega Resources Inc

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Post by freedom457on Jan 25, 2011 4:24pm

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Post# 18024900

Good News for REE Sector!

The following article supports the idea that much higher prices abound in the near future for REE. This also means potentially a lot higher valuations for those Junior REE companies with the goods!

China to Start Stockpiling Rare Earths, Caijing Says

By Bloomberg News - Jan 25, 2011

China will start stockpiling rare earth minerals this year, Caijing magazine reported today, citing an unidentified official at the China Nonferrous Metals Industry Association.

The report didn’t say when the stockpiling would begin or give other details. The State Reserve Bureau under the National Development and Reform Commission has yet to provide rules for stockpiling, the report said, citing Niu Jingkao, deputy secretary general of the Chinese Society of Rare Earths.

Inner Mongolia, which contains 75 percent of China’s rare earth deposits, said in Sept. 2009 that the province is considering building a strategic reserve on behalf of the central government. China cut its quota for rare earth exports by 35 percent in the first half this year to reduce pollution and arrest a decline in domestic reserves.

Inner Mongolia Baotou Steel Rare Earth Hi-Tech Co. and other Chinese companies are preparing to stockpile supplies from as early as 2011, Nikkei English News said on Oct. 28. Inner Mongolia Baotou may invest as much as 3 billion yuan ($455 million) over a five-year period in reserves, the report said.

China produces more than 90 percent of global rare earth minerals, a group of 17 chemically similar elements, including neodymium, cerium and lanthanum, used in electric cars, wind turbines and weapons.

https://www.bloomberg.com/news/2011-01-25/china-to-start-stockpiling-rare-earths-caijing-says-update1-.html