Prescription for QRMLF to return to solvency/operations If Lortie and his buddies genuinely desire to resurrect QRMLF, then they need to do the following, ASAP:
1) Acknowledge that Canadian technological talent is very limited and seek expert advice from those who have proven their genius in that respect. Lortie needs to contact Israeli scientists, the best hi tech brains in the world, and create an advisory team that will map out a means of placing QRMLF into production, at maximum speed, and minimum cost. In doing so, they likely can source Israeli financing, directly or indirectly, the kinds of mega-financing that built an international hi tech marvel in a mere 70 years.
2) Acknowledge that the Canadian financing sector is very conservative and largely unimaginative, then seek expert advice from the most creative international financiers. Lortie needs to contact Swiss bankers and create an advisory team that will map out a means of financing QRMLF, at maximum speed, in a manner that makes all vested financial interests happy...shareholders, debtholders, bankers, and governments. In doing so, they likely can source Swiss financing, directly or indirectly, the kinds of mega-financing that established Switzerland as the major international banking source of capital.
3) Under no circumstances seek any advice from Chinese with respect to rare earth development. The Chinese operate a rare earth monopoly and, as such, they have only one goal with respect to potential competition....they aim to DESTROY it! If Lortie and buddies have been following any advice from the Chinese rare earth monpolists, it likely has been bad advice...and should be discarded.
Bottom line: Lortie and his buddies are operating out of their depth, and the conclusive evidence is that they allowed QRMLF to run out of working capital, even before they had begun to construct the Strange Lake mining facility. They need to acknowledge their deficiencies and take concrete logical remedial steps
Once Lortie and buddies can demonstrate that they have a genuinely smart operational approach, then the financing should pour into the company. Reason: it is urgent that rare earth development be expedited OUTSIDE of China, ASAP, since the hi tech world is far too dependent upon rare earth elements sourced within China...in fact, most alarming is that the USA defense grid is highly dependent upon various rare earths! Any potential calamity (e.g., earthquake, war, radiation poisoning, etc.) that shuts down rare earth operations in China might pose a dire threat to the continued smooth operations of the entire hi tech sector in America.
Considering these factors, it is absolutely preposterous that QRMLF lacks financing...if there is one company in No. America that should be a magnet for massive capital investment, it is QRMLF....but, in order for that to manifest, QRMLF must demonstrate that it "knows what it is doing," and in that respect, corporate management has been derelict in the worst way....it has breached fiduciary duty to the shareholder at every turn.
I have provided a prescription for summary remedy and please feel free to forward it to the concerned parties....in the absence of such remedy, Lortie and his buddies should be hauled into court and sued for both criminal and civil penalties, nothing less.