Midas Resources

Published : April 22nd, 2010

Bolero Resources Acquire Rare Earth Crown Jewel

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Keywords :   China | Collapse | Commodities | Diamond | Gold | Growth | Market | Rare Earth | Wind |


Midas Letter: Bolero Resources Acquire Rare Earth Crown Jewel

By James West and Jonathan T. Orr

For Bolero Resources Corp (TSX.V:BRU) and many investors, it is now beyond argument that one of the fastest growing and most exciting commodities markets in the world is in Rare Earth Elements. The widespread use of REEs in green technologies and advanced electronics means that demand will increase dramatically in the near future.

Supply however continues to be a strategic challenge for North America as China, which produces 97% of global supply, begins to severely limit export in order to consolidate its own supply. As this happens it will become increasingly critical to develop stable and viable producing REE properties in North America. In this context Bolero�s recent announcement that it has entered into an option agreement to acquire 100% interest in the Carbonatite Syndicate Rare Earth Claim Group, surrounding Spectrum Mining Corporation's recently reported �Wicheeda� rare earth discovery within British Columbia�s Rocky Mountain Rare Metal Belt is massive indeed.

The fact that the Wicheeda discovery is estimated to have the potential to exceed the output of Mollycop Mountain Pass, which for over forty years was North America�s biggest supplier of REEs, says all you need to know about the possibilities of this property.

Speaking of RREs future Bolero Resources President and CEO, R. Bruce Duncan, stated � We feel Rare Earth Elements or REEs are the commodity of the future and Bolero has strategically positioned itself in what could potentially become the next major domestic Rare Earth area of interest.� Savvy forward looking investors will want to have REEs in their portfolio and Bolero, with the producing potential of the Spectrum area property and a highly experienced and committed management and geological team are driving towards becoming one of North America�s first domestic REE suppliers.

Abstract Values vs. Concrete Applications

Human beings do not always employ logic when deciding upon the true value of a resource. Gold, which serves no function whatsoever in the advancement of human civilization, has and always will be treasured above all. Yet when talking about the value of the more obscure Rare Earth Elements which, while not as aesthetically pleasing as gold, may actually come to play a powerful role in saving civilization and the planet itself, you must always reassemble your arguments for their worth.

It is one of the unique challenges of green technology companies that they must justify their science and value over and over again in every article and publication. All of this discussion about the viability of green technologies and which of them will power our planet can distract from the simple fact that at the end of the day change must be supported by a viable and profitable business model. The long and short of it is that green tech companies must have the capital, properties and experience to backup their plans for future growth or all the grandiose science and prognostications are moot.

Rare Earth resource companies often find themselves in this position; rather than being able to talk simply about the geographical value of their project and the capacity of their team they are forced to convince investors and the public alike that REEs have a future. Bolero however is lucky enough to be in a position where they are more than happy to talk geography.

So let�s get the arguments about rare earth elements out of the way.

Rare Earth Elements Power Our Future Green Globe

There is little doubt that REEs will continue to play a critical role in the development of a green world as they are a critical component in the new thin-film CIGS solar panels and are essential to our increasingly electronically intertwined world to say nothing of literally holding the world�s infrastructure together in steel alloys.

With China producing up to 97% of the global supply of REEs and with the clear indication that they intend to keep the bulk of this supply to fuel their own technological advancements there will be huge demand for RREs in the near future.

If we are to maintain the momentum for our civilization�s transition from the poison of fossil fuels to a world of hybrid automobiles, and the powerful and efficient battery technology to power wind turbines and solar panels then we must secure our access to REEs sooner rather than later.

So: demand in North America for a reliable and accessible supply REEs will grow exponentially in the near future and the companies that have the properties and expertise to bring projects to production will be set to benefit hugely. Bolero has a compelling plan to become one of the first of those companies.

Bolero Acquires Rare Earth Property Surrounding Spectrum

Bolero Resources Corp recently announced that it has entered into an option agreement to acquire 100% interest in the Carbonatite Syndicate Rare Earth Claim Group, surrounding Spectrum Mining Corporation's recently reported �Wicheeda� rare earth discovery.

The Spectrum property acquired by Bolero lies within British Columbia�s Rocky Mountain Rare Metal Belt. British Columbia is often described as Canada�s most Alkaline province and this geological setting is the perfect environment for Rare Earth Elements and is perfectly positioned for export to the surging Asian market for REEs.

Spectrum Mining Corporation is a private company that recently reported significant Rare Earth Element mineralization on its Wicheeda carbonatite-syenite breccia intrusive complex rare earth discovery. The Carbonatite Syndicate Claim Group is 80 km northeast of Prince George, BC and comprises 43 mineral claims covering approximately 16,072 hectares, making it the largest contiguous land package adjoining the Spectrum Mining Corporation property.

Spectrum Property Highlights

Highlights from Spectrum�s neighboring property included a 48.64 metre interval which averaged 3.55% rare earth elements ("REE"), a 72.0 metre interval that averaged 2.92% REE, and a 144 metre interval which averaged 2.20% REE in three separate drill holes. In 2009, eleven NTW Diamond drill holes totaling 1835 metres were drilled in the "Main Zone" from two new drilling platforms on Wicheeda. All 11 drill holes intersected significant rare earth mineralization and the Wicheeda deposit remains open in all directions.

World recognized carbonatite-rare earth specialist Dr. Anthony Mariano has examined drill core samples as well as rock samples. He concluded that the Wicheeda mineralization is mainly monazite and a bastnaesite-synchisite mineral and is simple and easy to separate. A heavy liquid and magnetic separation study on a composite sample of Wicheeda drill core was able to produce a high grade REE concentrate that contained 56.09 wt. % REE.

The test indicated that the Wicheeda rare earth mineralization could produce a marketable concentrate. It was noted that applying a flotation circuit should produce a 60% Light Rare Earths concentrate from Wicheeda that would exceed the concentrate grade of Molycorp�s Mountain Pass which for over 40 years was the largest domestic supplier of rare earth concentrates in the world.

Bolero: The Tools To Become A Pioneering REE Supplier

Once you set aside the ceaseless back and forth arguments about the future of REEs and their role in the clean technology world we are trying to create and are left to look at the bare rock essentials: Bolero Resources Corp.�s future looks compelling indeed.

  1. Skyrocketing and continuing demand for Rare Earth Elements.
  2. Pending collapse in supply from China.
  3. 100 % ownership of a REE a property in politically stable, easily accessible British Columbia.
  4. The possibility of that property to exceed the grade of largest domestic supplier of REEs.
  5. Results determined by world recognized carbonatite-rare earth specialist Dr. Anthony Mariano.

Astute investors will see that, in the globe�s next explosive market, Bolero are exquisitely positioned to provide the ammunition for a greener world with their Carbonatite Syndicate Rare Earth Claim Group property set to be the jewel in a crown of North American Rare Earth suppliers.

Follow the company�s progress at: http://www.boleroresources.ca/

Click Here for a Free Real-time Stock Quote on TSX-V: BRU

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Midas Resources

ISIN : AU000000MDS4
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Midas is based in Australia.

Its main exploration property is LAKE CAREY in Australia.

Midas is listed in Australia. Its market capitalisation is AU$ 975.6 millions as of today (US$ 917.2 millions, € 668.5 millions).

Its stock quote reached its highest recent level on April 09, 2010 at AU$ 880.00, and its lowest recent point on April 11, 2014 at AU$ 0.00.

Midas has 6 504 300 032 shares outstanding.

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