Over the weekend I updated the list of projects on the TMR Advanced Rare-Earth Projects Index to reflect not one but two new rare-earth mineral resource estimates, which were announced earlier this month. I also made some other updates. The specifics:
- Hastings Rare Metals Limited (ASX: HAS) announced a JORC-compliant mineral-resource estimate for its Hastings project in Australia on September 8. According to an Associated Press release, 27.100 Mt of the resource is at the Indicated level @ 0.21 wt% TREO, and 9.100 Mt is at the Inferred level @ 0.21 wt% TREO (both at a cut-off grade of 0.15 wt% Nb2O3 - this is a polymetallic deposit).
- Montero Mining and Exploration Ltd. (TSX.V: MON) announced a 43-101-compliant mineral-resource estimate for its Wigu Hill project in Tanzania on September 12. According to the Associated Press release, 3.3 Mt of the resource is at the Inferred level @ 2.59 wt% TREO (at a cut-off grade of 1 wt%). Note that the estimate is for the five light rare earths (oxides of La, Ce, Pr, Nd & Sm), which according to the Associated Press, constitute more than 99% of the rare earths present.
- I have removed references to Rare Earth Extraction Co. (Rareco), since Great Western Minerals Group Ltd. (TSX.V: GWG, OTCBB: GWMGF) now has 100% ownership of the latter company, now a wholly-owned subsidiary.
- I have also updated the pricing used in the Index data to reflect the average monthly prices for August 2011 and the moving three-year average price for separated rare-earth oxides.
FYI, TMR is now tracking a total of 389 rare-earth development projects associated with 244 different companies in 35 different countries.
You can access the updated details via the Index page.
One other reminder: Jack Lifton and I are hosting the TMR Rare Earths Boot Camp in Toronto October 31-November 1. This will be an intensive, two-day educational program for technical, financial, investment, and policy-making professionals, and will be focused on teaching the fundamentals of the rare earths sector. The event features a world-class, independent expert faculty, who will draw from their decades of experience to teach specific aspects of the rare earths lifecycle at a level that everyone can understand.
Places are filling up, so if you're interested in attending, or in having a colleague or member of your staff attend, visit http://www.rareearthsbootcamp.com to get more details and to register.
Gareth Hatch analyzes the role of rare and strategic metals in the technology supply chain and is a co-founder with Jack Lifton of Technology Metals Research LLC as well as founder of Terra Magnetica and an editor at RareMetalBlog.