19:23:50 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



Rare Element Resources Ltd
Symbol RES
Shares Issued 43,871,173
Close 2011-05-09 C$ 12.88
Market Cap C$ 565,060,708
Recent Sedar Documents

Lundin says buy Rare Element near current levels

2011-05-10 13:57 ET - In the News

Brien Lundin, in the April, 2011, edition of the Gold Newsletter, says buy Rare Element Resources Ltd., recently $12.89. Mr. Lundin said buy five times between January, 2006, and April, 2009, at prices ranging from 43 cents to $1.09. He said take some profits -- perhaps sell half -- in April, 2010, at $3.45. Assuming an investment of $1,000 for each buy, selling half at $3.45 would have yielded a profit of $10,319. The editor said buy again in May, 2010, at $3.23. Assuming an investment of $1,000 at $3.23 and taking into account the $2,500 investment left from the half sale, the $3,500 investment is now worth $51,908. Rare Element holds 947,000 ounces of gold in the Carbon, Smith and Taylor deposits of its Sundance project in Wyoming. This estimate is based on the first compliant resource of 69.3 million tonnes, at an average grade of 0.42 gram per tonne gold. Mr. Lundin notes results from recent drilling, which include 192 metres of 0.67 g/t gold, could increase both the extent and average grade of the Sundance resource. He adds that Rare Element may spin out its gold assets into a separate company. The editor suggests buying the stock for the company's gold assets as well as its rare earth holdings.

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