TICKER: TSX.V:UCU
DESCRIPTION: Ucore Rare Metals is an exploration company with significant exploration holdings across North America. The company's Alaska-based flagship property at Bokan Mountain is the site of a former high-grade producing uranium mine, with an estimated untapped resource of 11M+ lbs. of U3O8. The property's rare earth elements (REE) resource is estimated to be the largest combined heavy and light REE deposit within the U.S. (all estimates based on USGS data; non 43-101 compliant). Bokan has near-term production potential and is located in an area of Alaska designated for natural resource development, with no residential or indigenous populations in proximity.
The information provided below is based on the most recent information we have received from analysts, newsletters and other contributors to Streetwise Reports' The Gold Report or The Energy Report. We encourage you to visit the company's web site and call the company for more specifics on this company before you decide to invest.
TGR: What are some of the deposits with the high ratio of heavies to lights that you're interested in?
TM: I've been working for Ucore Rare Metals Inc. on Bokan Mountain in Alaska. It's on the southern tip of Prince of Wales Island. The accessibility there is the best of almost any deposit. It's principally heavy rare earth enriched with yttrium and dysprosium, gadolinium, erbium and ytterbium. The heavy lanthanides dominate the mineralogy. At this time, they are working to establish whether they have sufficient grade and tonnage and whether it's amenable to economic recovery.
They're in the exploration process right now. As a matter of fact, I'm scheduled to go there August 8–13, with Ucore people and a number of others from the USGS. The U.S. government is quite interested in these minerals because they are of military importance.
Paul Mylchreest, Thunder Road Report (06/28/10)
"Ucore. . .has a fully diluted market cap of only c.US$22M and is really an 'option' on heavy rare earths (and uranium co-product). Its core asset, the 100%-owned Bokan Mountain deposit in Alaska, has a heavy/light rare earth ratio of about 50%.
Indeed, exploration conducted so far suggests that 36% of the deposit consists of dysprosium and terbium, which have key military applications, and could suffer from a Chinese export ban post-2015."
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