Quest Rare Min. DEVASTATING News At my point of view - we have to read an absolute frustrating and devastating update today!
The company points out the following:
"Quest also expects that the capital cost and operating cost for the Strange Lake Project will be significantly greater than those set out in the September 2010 Preliminary Economic Assessment"
https://questrareminerals.com/news_.php?url=http%3A%2F%2Fcnrp.marketwire.com%2Fclient%2Fquest_uranium%2Frelease_xml.jsp%3FactionFor%3D1725637
Sorry, it was unreal enough a port and a 165-kilometre access road but if (and it seems so) the capital needs will be increase even more!
Moreover the company wrote many many month before that there will be a drilling program.
https://questrareminerals.com/news_.php?url=http%3A%2F%2Fcnrp.marketwire.com%2Fclient%2Fquest_uranium%2Frelease_xml.jsp%3FactionFor%3D1646971
“- 2,500 m exploration drilling program targeting four new areas of high-grade surface mineralization outside of the B-Zone that may provide additional, higher-grade pegmatite-style resources as currently defined at the B-Zone”
In fact I missed any results of these drillings since summer last year. This is no longer acceptable!
- 1,000 m drilling program by AMEC for geotechnical monitoring holes for use in the Pre-Feasibility study currently underway
(now again within some 6 month longer to wait? I can't believe it!)
I can only advice everybody to be very careful on the maximum questionable company.
Furthermore rare earth prices has been falling consistently sharp since long time, making even for market leader Molycorp with the high-end project Mountain Pass Mine any profits unreachable and more and more money necessary.
And Lynas will bring in even more rare earth concentrate to the market.
With these overall facts - I do no longer believe Quests project will come into life.