I recently updated the TMR Advanced Rare-Earth Projects Index, to reflect a project-related announcement since the last edition. The effective date of the latest edition is February 7, 2014. The specifics:
- On January 24, 2014, Star Minerals Group Ltd. (CNSX:SUV) announced the finalizing of a Joint Venture Agreement with Great Western Minerals Group Ltd. (TSX.V:GWG, OTXQX:GWMGF) on the Hoidas Lake project in Canada. According to the associated news release, Star Minerals Group will acquire a 25% interest in the Hoidas Lake project by funding and completing a preliminary economic assessment for Hoidas Lake, within two years. Star Minerals Group will then have the right to acquire an additional 26% interest in Hoidas Lake, by funding and completing a definitive feasibility study on Hoidas Lake, within four years of the acquisition of the initial 25% interest in Hoidas Lake, thereby giving Star Minerals Group a 51% ownership interest in the property.
The Index currently consists of 57 rare-earth mineral resources, associated with 51 advanced rare-earth projects and 49 different companies, located in 34 different regions within 16 different countries.
I have also updated the pricing used in the Index data, to reflect the average monthly prices for January 2014, as reported by Metal Pages. You can access the updated details via the Index page.
One final note – the easy-to-remember shortcut for accessing the Index is www.RareEarths.org.
Disclosure: at the time of writing, Gareth Hatch holds no shares or stock options in any of the companies mentioned in this article, or in any publicly traded rare-earth company, nor is he doing paid consulting for any such company.