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CANDORADO OPERATING CO V.CDO



TSXV:CDO - Post by User

Post by wildman2on Dec 29, 2010 9:13am
159 Views
Post# 17900779

REEs are on fire off China quotas

REEs are on fire off China quotas(Reuters) - China has raised fresh international trade concerns after slashing export quotas on rare earths minerals, risking action from the United States at the World Trade Organization.

China, which produces about 97 percent of the global supply of rare earth minerals, cut its export quotas by 35 percent for the first half of 2011 versus a year ago, saying it wanted to preserve ample reserves, but warned against basing its total 2011 export quota on the first half figures.

The U.S. Trade Representative's office was "very concerned" about China's export restraints on rare earths and had raised its concerns with China, a spokeswoman said on Tuesday.

A European Commission spokesman said the European Union "notes the latest quota figures and expects China to respect its recent assurance of a guarantee of rare earth supplies to Europe."

U.S. makers of high-tech products such as Apple Inc's iPads, along with Japanese companies have been scrambling to secure reliable supplies of the minerals outside of China as Beijing steadily reduces export allocations.

Japan's Sony Corp said China's move to cut export quotas was a hindrance to free trade and that it would work to reduce its reliance on Chinese supplies.

"At this point in time there is no direct impact on our company. But further restrictions could lead to a shortage of supply or rise in costs for related parts and materials," Sony said in an email statement in response to questions from Reuters. "We will watch the situation carefully."

Sony, maker of Bravia brand flat TVs, Vaio PCs and the PlayStation 3 videogame console, will look for ways to cut its use of rare earths, including developing alternative materials, Sony spokeswoman Ayano Iguchi said.

With that said, is anyone ready for a repeat of last month's rush to the upside.


Yesterday, Candorado Oper Ltd (CVE:CDO, CDO message board), (PINK:CDOOF) stock exploded on a press release by the company about an agreement for a 100% interest in certain mineral claims in the Wicheeda Carbonatite Belt.

The news that the company will have interests in the heart of a REE metals area resulted in more than a gold rush for its shares.

On the TSX Venture Exchange, CDO surged 30.77% within a day in a volume of more than 11.7 million shares. The company's stock closed the market at
.085 per share, hinting at a new 52-week high.

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