The use of rare earth elements in modern technology has increased dramatically over the past years. Unfortunately, this new demand has strained supply, and there is growing concern that the world may soon face a shortage of the materials. In several years, worldwide demand for rare earth elements is expected to exceed supply by 40,000 tonnes annually unless major new sources are developed.
China now produces over 95% of the world's rare earth supply. A draft report by China's Ministry of Industry and Information Technology has called for a total ban on the export of rare earth minerals. More recently the Chinese government has added tariffs and lowered exports which has dramatically increased the price of numerous Rare Earth Element's (REE's). Reuter's News has stated that the apparent price rise is in the range of $10,000 per month for each ton with prices well over $100,000 per ton.
Cache intends to outline rare earth mineral deposits and advance them to interest established producers to purchase or joint venture them to meet the increasing world demand.
Cache Exploration's mandate is to explore historically known rare earth mineralization that are located near good infrastructure and in politically stable locations.
Cache's REE Projects include the Welsford REE Properties near St. John New Brunswick, the Cross Hills REE Property near Grand Le Pierre, Newfoundland and the six prospecting permits covering 208,000 acres in Nunavut.
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Historical Reserves, Resources, or Results
Any data regarding historical reserves, resources, or results cited herein as historical are not compliant with National Instrument 43-101- Standards of Disclosure for Mineral Projects ("NI 43-101") nor current unless otherwise specified. They are derived from historical documents and represent that at sometime in the past the then current operators undertook an estimate of the size or metal content of the deposit based on economic factors that existed at that time. If they are included herein, it is for illustrative purposes only and should not be relied upon as factual.
Investors are cautioned that a qualified person has not completed sufficient work and the information has NOT undergone rigorous geological review and QA/QC testing by a Qualified Person as defined in NI 43-101. Neither the Company nor its personnel treat this data as a current mineral resource, reserve, or results as defined under NI 43-101, nor do they rely upon them for evaluation purposes. However, this data is being used as a guide to exploration as the Company develops data to support any potential future mineral resource estimates in accordance with the requirements of NI 43-101.
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