Quest Mineral’s (ticker QRM) Strange Lake rare earth project in northern Quebec has great potential.
The reserves are estimated at 225 M tonnes, larger than the Nelchalacho project in NWT (90 M tonnes) or any other rare earth project on the horizon.
Rare Earths Industry Development Plan (2009‐2015) released by the Chinese government in August 2009 will further restrict the export of rare earths. Annual export quota for rare earths to be contained below 30,000 tons annually and it prohibits export of certain heavy rare earths.
Quest is planning a 4,000 tonne per day mine with a 25 year life. The CAPEX for the project would be $600 M to $750 M. Quest plans a pre-feasibility study for 2012 and a feasibility study for 2013.
The link c) below is a video clip of an interview with the Quest President and CEO, Peter Cashin.