American Vanadium Corp. (CVE:AVC) reports the non-brokered private placement has been increased to 2,334,667 units for total proceeds of $3,502,000.50.
Red Metal Resources Ltd. (OTCBB:RMES) reports that it has began an approximately 2000 meter combined reverse circulation (RC) and diamond drilling program on its Farellon copper-gold project.
International Lithium Corp.'s update on a Canadian rare earth metals project. Surface exploration on the Mavis Lake rare metals’ project, located 15 km Northeast of Dryden, Ontario, revealed high-grade well-evolved lithium and tantalum zonation as well as significant levels of cesium and rubidium across multiple pegmatite bodies.
Reuters Africa reported that the Jinchuan Group’s (FRA:GDZD) bid for Metorex (JNB:MEMTX) is higher than Vale’s (NYSE:VALE) offer.
The market news is quoted as saying:
Jinchuan, China’s dominant nickel producer, added almost 22 percent to Vale’s offer, making 8.90 rand per share for a cash bid at current exchange rates of around $1.32 billion.
The challenge in mastering rare earth processing and separation is the biggest hurdle for the profitability of a rare earth mining company. In an exclusive interview with Rare Earth Investing News, David Vinokurov from Stans Energy Corp. talks about the challenges of rare earth processing.
