Quest Rare Minerals Looks to List On U.S. Exchange - Files SEC Form 40-F
Every time I hear a politician say how the U.S. is going to make great strides in producing "green" technology I choke a bit because everyone in the industry knows that China owns most (95-98%) of the sources of metals needed in every green technology from solar cells to car batteries and electric motors, to wind turbines.
This used to be a U.S. industry but China bought most of the companies involved in advanced magnet development and U.S. regulations did the rest by driving U.S. mines out of production.
Now China owns the technology, most of the world's production, and hired most of the experts. They have also cut exports for the very legitimate reason that they build electric cars, magnets, and wind turbines themselves and as they expand their market share Chinese companies need the rare earth metals for their own production.
But there are companies actively developing new sources of these rare earth elements, among them are Molly Corp. (MCP), Avalon Rare Metals (AVL), and Rare Element Resources (REE), all of them listed on a major U.S. stock exchange.
As smaller exploration and development companies increase their presence in the market they usually try to move their stock trading from small regional stock exchanges in Canada, Australia, or elsewhere to one of the big U.S. exchanges.
When that happens the price often (not always) tends to jump because many large investment firms such as mutual fund companies aren't permitted to buy shares of companies not listed on the "big board."
Quest Rare Minerals Ltd. (current symbol QSURD, Toronto Stock Exchange), announced today that the company has filed a 40-F form with the U.S. SEC, an action aimed at qualifying the company's stock for trading on a U.S. exchange.
The Canadian mining company is developing rare earth mines in Eastern Canada.
* The views of Opinion writers do not necessarily reflect the views of NewsBlaze
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