Pele Mountain Resources (GEM - TSX.V): First-Ever Rare Earth Oxide Resource Estimate for Eco Ridge to Be Released Shortly - Video Highlights of MoneyinMetals Report
(Thomson Reuters ONE) -
Pele Mountain Resources (TSX-V:GEM), a Canadian mineral exploration and
development company focused on the sustainable development of its 100% owned
flagship Eco Ridge Mine Uranium and Rare Earth Elements ("REE") Project in
Elliot Lake, Ontario, released a report by mining analyst Mark Weaver of
MoneyinMetals.
Mark Weaver reports:
The vast uranium and REE mineralization at Eco Ridge provides Pele investors
with outstanding leverage to these critical metals. Very shortly, Pele expects
to release an updated NI 43-101 resource estimate that will include both uranium
and Rare Earth Oxides ("REO") for the first time.
To view the video highlights of Mark Weaver's MoneyinMetals report for Pele
Mountain, please click here. If the link is unavailable, please cut and paste:
http://www.youtube.com/watch?v=VLM86sEX-js
As the uranium market continues firming and extreme tightness in the REE market
persists, market prices for uranium and REE remain exceptionally strong.
Particularly, the uncertainty regarding long-term REE supplies has led to a rush
to develop REE resources outside of China. At MoneyinMetals.com, we believe
that Eco Ridge possesses strategic advantages that may place it ahead of its
competitors in the race to bring these resources to production.
· Eco Ridge lies within a proven mining camp with well-understood geology,
in-place infrastructure, and which has produced more than 300 million pounds of
uranium. Elliot Lake is the only Canadian mining camp to reach commercial REO
production and was once the primary source of heavy REO in North America.
· The goal is for Eco Ridge to be a uranium mine that would produce REO as
by-products. Therefore, it isn't wholly dependent on the increasingly volatile
REE market. Furthermore, Pele has reported good recoveries of Yttrium & heavy
REO that would be available in the uranium leach solutions without additional
mining or processing costs!
· Eco Ridge can offer a secure and reliable REO source with minimal
geopolitical risk and with strong local support for project development.
Pele Mountain has invested considerable effort optimizing the mining,
processing, and waste management plans at Eco Ridge. Although, the market
environment may remain speculative with respect to uranium and REE pricing, Pele
Mountain is positioned to be a leader among the emerging developers of these
strategic metals.
Forward-Looking Statements: Some of the statements contained in the above
article are forward-looking statements and not statements of facts. Such
statements are based on publically available information contained in Pele
Mountain Resources' press releases or assumptions made from other publicly
available documents. Forward-looking statements are subject to various risks,
uncertainties and other factors that could cause actual results to differ
materially from expected results. Readers must rely on their own evaluation of
these uncertainties.
CONTACT:
Pele Mountain Resources
Alan Shefsky, President & CEO
800-315-7353
info(at)pelemountain.com
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1480039]
Unternehmensinformation / Kurzprofil:
Datum: 17.01.2011 - 15:01 Uhr
Sprache: Deutsch
News-ID 50506
Anzahl Zeichen: 4076
contact information:
Kategorie:
Business News
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