This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Q&A: US Rare Earths Focusing On Critical REEs

Image courtesy of US Rare Earths

Lemhi Pass

Over the past 12 months, the rare earths industry has struggled to come to terms with reserves outside of China and an increase in new production. As a result, prices have significantly dropped from the highs recorded in 2011.

However, a number of exploration and production companies remain bullish on the sector's long-term future, especially considering the promise of heavy rare earth elements (HREEs).

Rare Earth Investing News (REIN) sat down with Daniel McGroarty, president of US Rare Earths (OTCBB: UREE), a US-based rare earth development company, to find out more about what his company has been up to and to gauge his thoughts on the market as a whole.

REIN: Can you give us a brief summary of US Rare Earths and tell us what the company is focused on at present?

DM: US Rare Earths is a rare earths development company, headquartered in New York City, with six properties in three states: Idaho, Montana and Colorado. We went public as Colorado Rare Earths in December 2010, and with the acquisition of our Idaho and Montana properties, we changed our name to US Rare Earths in the second half of 2011. We've assembled a portfolio of properties that have shown significant rare earth element (REE) expression, with an emphasis on HREEs. Given the growing demand for REEs in the US and worldwide, our task in 2013 is to conduct an aggressive drill program that will help us assess which properties present the most promising potential. 

REIN: Please tell us a little bit about US Rare Earths' recently announced plans to start drilling for samples in Montana. Can you describe the company's aims/goals? Has there been any historical work done to date, or are you headed into unchart ed territory?

DM: There is historical work and varying degrees of data for all of our Idaho and Montana properties. What we're doing is layering new work — surface samples, trenching, drilling and even aeromag work — over the historic material to help us focus on the most promising areas. In 2013, we'll be looking to validate some of the most interesting historical work through our drill program.

Sheep Creek in Montana is the site of our newest permit, received just this month, and we're excited to factor drill results there into our considerations. We've done recent surface sampling there that compares very closely to historic work done 50 years ago. One objective for our 2013 program will be to validate this historic work, which will fast track us to a full understanding of the high-grade potential of this property.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs