James Dines, writing in the Nov. 30, 2012, issue of The Dines Letter, refreshes his buy of Quest Rare Metals Ltd. at $1.05. The editor recommended the stock six times between July 17, 2009, and Sept. 14, 2012, at prices ranging from 64 cents to $6.73. An investment of $1,000 for each of the six buys would now be worth $3,412. Mr. Dines says Quest's Strange Lake rare earth deposit in Quebec is the largest heavy rare earth deposit in the world. Strange Lake, he says, is potentially worth billions of dollars, yet, subtracting the cash Quest has in the bank (about $27-million), its ore is being valued at a paltry $40-million. He says the deposit is outside the clutches of China's virtual monopoly, and he is not aware of any negatives. Quest will need $1-billion to develop its asset, which the editor says should be no problem, especially for a major seeking a crown jewel during the next mining cycle. "We are patient," he says.
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