- The global rare earth element (REE) market is expected to reach US$32 billion by 2030
- People are looking for sources outside of China, which produces as much as 90 per cent of global processed REEs, and Russia is also working to become the second biggest producer by 2030
- Canadian mineral exploration company Neotech Metals rose more than 155 per cent during intraday Wednesday trading, and Ucore Rare Metals’ share price is up more than 27 per cent in the past year
- Ucore Rare Metals Inc. closed trading at $0.91 per share and Neotech Metals Corp. closed trading at C$1.80 per share
Neotech Metals (CSE:NTMC) has been leading the CSE in gains and if you haven’t made a move on the stock, now could be the time.
The Canadian mineral exploration company rose 176.19 per cent in Wednesday trading. This followed an 85 per cent spike from mid- to late December 2023, though that was followed by a 73 per cent drop from late December to early January 2024. Could this be a serious dip that investors hunger for?
Neotech Metals Corp. stock chart – Oct. 2023 to Jan 2024.
The rare earth miner’s leadership admitted even they don’t know for certain what is behind this market activity. The Canadian Investment Regulatory Organization had asked the leadership team to investigate further and NTMC stock has had its trading halted at least three times over the past few weeks. Even so, investors are buying in.
Neotech Metals Corp. holds options over the EBB Nickel-Cobalt Property in British Columbia. The company has acquired the TREO Property, a 46.1-square-kilometre claim area contiguous to the Wicheeda Carbonatite Rare Earth discovery approximately 130 km northeast of Prince George.
The global rare earth element (REE) market is expected to reach US$32 billion by 2030, according to internal projections from another small cap company in this field, Ucore Rare Metals (TSXV:UCU), from estimates as low as US$5.3 billion in 2021.
People are looking for sources outside of China, which produces as much as 90 per cent of global processed REEs and Russia is also working to become the biggest producer after China by 2030.
REE stocks are in high demand, as are companies capable of meeting the global shortage. Rapid advancement among defence, telecommunications, electronics and renewable energy sectors has absorbed demand for rare-earth metals.
Ucore has also seen a leap in its share price, up 20.02 per cent in the past year. The Halifax-based company is focused on critical metals extraction, beneficiation and separation technologies and holds total control over the Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska. It also recently acquired its first commercial processing facility, a 7,500-square-metre brownfield facility, known as the Louisiana Strategic Metals Complex in Alexandria, Louisiana.
Ucore Rare Metals Inc. has a market cap of C$49 million and closed Thursday trading at $0.91 per share.
Neotech Metals Corp. has a market cap of C$109 million and closed Thursday trading at C$1.80 per share.
Join the discussion: Find out what everybody’s saying about these REE companies on the Neotech Metals Corp. Bullboard and Ucore Rare Metals Inc. Bullboard, and check out Stockhouse’s other stock forums and message boards.
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