LYNAS, QUEST and PDAC Tour of Duty

RareMetalBlog 2011 PDAC ReceptionWe have a snowstorm coming into Toronto this morning with the same force as the upcoming PDAC event that starts on Sunday, March 4th. Last year, they claimed that 27,000+ people attended; and this looked right to me. RareMetalBlog hosted a reception that drew nearly 600 people, and this year we are lining up interviews and meetings right through the end of the week. We have put together a quick chart below on the RareMetalBlog sponsors that are attending and what booths you can catch them at…

This morning online news sources are reporting that members of Malaysian government’s legal team have backed the Atomic Energy Licensing Board’s decision to grant Lynas Corporation Ltd. (ASX: LYC) the temporary operating license (TOL) for its rare earth processing facility. The Malaysian government along with the Science, Technology and Innovation Ministry have issued a preliminary objection against the court action filed against Lynas by a group of residents who are challenging the legality and authenticity of the TOL. This legal objection comes as four of Malaysia’s government ministries are surveying locations for handling the plant’s waste materials.

Quest Rare Minerals Ltd. (TSXV: QRM; NYSEAMEX: QRM) announced yesterday that it will begin trading on the Toronto Stock Exchange (TSX) as of March 1st. As of tomorrow shares will be delisted from TSX Venture Exchange concurrent with the commencement of trading on the TSX. Quest’s stock symbol will remain QRM. Peter J. Cashin CEO of Quest commented, “Following our listing on NYSE Amex in 2011, graduation to the TSX is an important milestone in Quest's evolution as an important rare earth development story. We believe that the TSX listing will elevate Quest's profile with institutional investors and provide enhanced liquidity for Quest's shares.” Quest has a market capitalization of USD$171.61 million (CDN$169.14 million). Yesterday Quest’s NYSE AMEX shares closed at USD$2.78 and its TSXV shares closed at CDN$2.75.

So here you have it — the Prospectors & Developers Association of Canada (PDAC) International Convention, Trade Show & Investors Exchange – Mining Investment Show is set to start this Sunday, March 4th and run until Wednesday, March 7th. Here’s a quick list that I am using to insure that I get by to say hello to everyone…

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(Prices are taken from Bloomberg & Yahoo Finance between 10:10AM and 10:40AM EST 2-29-12. All funds are in CDN dollars, except the ones with an “*” next to them – these are in US funds.)


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Tracy Weslosky

About Tracy Weslosky

Tracy Weslosky is the Publisher and Editor-in-Chief of InvestorIntel, a leading global investment intelligence source created for the innovative and entrepreneurial minded that represents over 50 publicly listed companies globally that are listed on Tracy is also the Founder & CEO for ProEdge Media Corp., an online publishing and media production company since 2001; and is the Managing Partner for 724 Capital Corp., a business consulting firm that currently represents U.S. Rare Earths, Inc. Previously she has owned a boutique Investment Banking firm for 7 years that was the basis for a business reality television series called, DealFlow. Aired around the world for 3 years on CNBC World, WealthTV and many other networks globally; Tracy is a speaker, writer and an entrepreneur.
  1. Some Facts On Radioactivity
    By Dr. Looi Hoong Wah
    Potassium tablets your doctor gives you for high blood pressure are highly radioactive with a radioactivity of 32 Bq/gm and we need about 2-3gm of potassium a day to stay alive.
    The radioactivity comes from potassium-40. This is more than five times the radioactivity of the Lynas waste which contains only 6 Bq/gm mainly from Thorium-232.
    All potassium that we eat daily contains potassium-40 and the normal dietary potassium would give a total of about 80 Bq a day. The so-called sodium free salt recommended by health experts to combat high blood pressure is nothing more than highly radioactive potassium salt.
    Thorium-232 decay produces only alpha particles which can be stopped by a piece of paper and cannot penetrate even the outer layer of the skin, whereas potassium-40 in our diet produces highly dangerous gamma and beta rays from all the three types of beta decay, ie electron emission, electron capture and positron emission.
    The longer the half life of a substance the less radioactive it is. Thorium-232 found in the Lynas waste has an incredibly long half-life of 14 billion years and as such is much less radioactive than the potassium-40 whose half-life is only 1.25 billion years.
    Below is a comparison of radioactivity in Bq (number of atoms decaying in 1 second)
    >> Pure thorium-232 = 4,080 Bq/gm
    >> Pure potassium-40 = 254,000 Bq/gm
    >> Naturally occurring potassium = 31,825 Bq/gm
    >> Lynas rare earth waste = 6 Bq/gm
    It has been estimated that in the worst case scenario, the radiation risk from the Lynas plant is only 0.002 mSv/yr.
    In Ramsar, Iran the naturally occurring radiation is extremely high at 260 mSv/yr. This is 13,000,000% higher than the expected worst case scenario in Kuantan. And the people in Ramsar have been found to be healthier and live longer than Iranians in other parts of the country. There is no increase in the number of cancer cases.
    We are exposed to radiation all of our lives. We get 4,400 Bq of radiation from the potassium-40 with a further 3,000 Bq from carbon-14 which forms part of our body tissues.
    There is no way we can escape from radiation. Even outer space is full of radiation.
    Dr. Looi Hoong Wah

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