Date: 5/22/12
Price: Free
SmallCap Network provides comprehensive research and opinions on UURAF.
Ucore Rare Metals Inc. (UURAF); Focusing on Rare Earth Elements
Ucore Rare Metals Inc.(PINK: UURAF) is a Canada-based junior-exploration company engaged in establishing rare earth elements, uranium and other rare metal resources through exploration and property acquisition.
UURAF has multiple projects across North America. However, the company’s main focus is the 100% owned Bokan-Doston ridge rare earth elements property located in Alaska.
Mission
Ucore Rare Metals main goal is to respond to the increasing need for technology metals, mainly in Western markets.
UURAF’s business is focused on exploration for rare metal ores. The company’s objective is to discover and explore properties with the potential to yield economic, world class deposits of technology and specialty metals.
Focus on Rare Earth Elements
The demand for rare earth elements has increased substantially in the last few years. Rare earth elements are used in the fields of clean energy, consumer electronics, computer applications, health care technologies and much more. The increasing use of tablet computers, laptops and smartphone devices has especially boosted the demand for rare earth elements.
However, there is a major constraint in the supply of rare earth elements. Currently, China accounts for almost 95% of the world’s total rare earth elements production. But in the last two years, China has placed increasing restrictions on production and supply of rare earth elements, pushing prices higher. China has been accused of manipulating prices by capping production and supply of rare earth elements.
China’s actions have created the need for rare earth elements to be produced in other places. And North American companies such as Ucore Rare Metals are looking to take advantage of this opportunity.
Bokan Mountain Project
Ucore Rare Metals’ flagship property at Bokan Mountain is located at the southern most part of the Alaskan panhandle. The property is approximately 60 km southwest of Ketchikan and 130 km northwest of Prince Rupert.
UURAF’s flagship property previously produced high grade uranium. The property has one of the largest combined heavy and light rare earth deposits in North America.
Recent, metallurgical tests have shown 85%-90% recovery of rare earths at the property.
Other Projects
Ucore Rare Metals’ other projects include the Elliot Lake Property, the Greater Newfoundland, Sandybeach Lake, and Lost Pond.
Financial Position
As of September 2011, Ucore Rare Metals had $12.1 million in cash. UURAF believes that it is well-funded currently.
Ucore Rare Metals is focusing on the exploration and production of rare earth elements. UURAF’s property at Bokan Mountain has a lot of promise. The company is also well-funded at the moment.
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