RE: Looking for updatesI also am looking for opportunities regarding rare earth minerals and read the Tech. Report on the Spartacus/Sedar site last week, and I come up with the same question as Erasmus: which REE's? Perhaps I missed it in the general 'geology' section, but it is very strange that they didn't break down which ones comprise the historical 3%-4% concentration in what could be at best, described as being close to an "inferred" resource figure.
It looks like this property has been bored, drilled more than the local street corner hooker(lol), and yet, nobody has been interested in following it up. Why? I know, I know, they claim that previous companies have been looking for economic reserves of gold and copper, but keep in mind, one of those many companies on site, was a 'rare earth' miner in California, and even they dropped the site with some vague reference to a takeover or some such excuse. The property they were mining in California ran about 9% REE's, so perhaps this was too low grade for them?
Four positives for this little company, are (1) the current share price, and (2) the low number of shares outstanding, and (3) the fact that they are following the recommendations in the Tech Report with a Phase 1 drilling programme plus some metallurgical testing and (4)the dikes appear to be open at depth and on strike so far which could mean good things later, if Phase 2 is undertaken. Too bad that this Phase 1 is merely to reaffirm what previous drilling had done, as the previous cores are no longer available, that's a few hundred thousand to redo what has been done before, but, at least, it is finally a start.
One negative is that the company doesn't even have a website(at least not that I found yet), so communication with the public seems to be limited to NR's and call-ins. Has the feel of a Howe Street lawyer's shelf company brought to life through a reverse takeover, now it will be time to establish whether their one and only property(one trick ponies are risky at the best of times) has any merit to it, economically speaking, that is.
I'd appreciate comments from any of the more seasoned posters in this forum, as to their take on the prospects for RES. I've only been looking at this outfit for the past week or so, and have possibly missed some important information. I am not a basher, and certainly not a pumper, and am just looking for some facts that may not be as obvious, at first glance. Before investing, I like to have confidence that a company is not simply mining the street(paper), but is genuinely interested in mining a property, and RES is taking a positibe step in that direction to date.
I wish everyone who holds this stock, the very best, and I may join you yet, but may have to await results of Phase 1 to see the potential, if any. The key will not be in the numbers for the REE's, jmho, from Phase 1, but in the metallurgy tests, which nobody has bothered doing until now. 3-4% may be economic, as long as the metallurgy shows decent recovery percentages, otherwise its a no-go.