Focus Graphite & SOQUEM: results from Kwyjibo (REE, Cu, Iron"Nov 21 16
Focus Graphite Inc. and SOQUEM Inc. announced the results from the 2014-2015 hydrometallurgical tests conducted on the Kwyjibo Poly-metallic Rare Earth Elements-Copper-Iron-Phosphate Project, located in the Cte-Nord administrative district of northeastern Qubec. Relatively simple metallurgical flowsheet, a distinctive feature of the Kwyjibo project among peer rare earth element projects. Approximately 90% extraction rate from rare earth concentrate for all rare earth elements for the Magnetitite Mineralization Type. The plan is to perform an initial Mineral Resource Estimate, followed by a Preliminary Economic Assessment study in 2017-2018."
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=1051323
"Focus had spent $6.6M on the Kwyjibo project and has accordingly earned its 50% interest."
The other 50% are hold from SOQUEM.
BTW, this capital spending alone, represents more than 50% of the current market cap, which as another indicator that the market has overdone this correction from $.24 to $.07.
Full announcement: https://web.tmxmoney.com/article.php?newsid=8496390568944474&qm_symbol=FMS
"Ressources Qubec is an Investissement Qubec subsidiary comprising two government corporations: SOQUEM, active in the mining industry, and SOQUIP (Socit qubcoise d’initiatives ptrolires), in the oil and gas industry."
[...] Ressources Qubec has total capital of over $1.2 billion."
https://soquem.qc.ca/en/about/partners/