SourcingLink.net Gives a Definitive Explanation of Rare Earth Elements Usage
SAN DIEGO, CA--(Marketwired - Dec 10, 2014) - SourcingLink.net Inc. (PINKSHEETS: SNET) gives a more definitive explanation to the shareholders regarding assay results reported in the last news release.
SourcingLink.net CEO Anne Carioti feels, "We are well positioned with the Eldor Project to benefit from increased Rare Earth Metal prices. Rare earth elements prices are relatively low when compared with the all time highs.
"Rare earth elements are increasingly important to everyday life and progress. We, the management, feel that rare earth elements have gotten close to the bottom of the market and are poised for a rebound in 2015. Mining rare earth elements is essential for technology."
The data from the expedition confirmed the existence of rare earth elements at SourcingLink.net's Eldor Project. In addition, it has revealed significant values in the following Rare Earth Elements; Cerium, Lanthanum, Neodymium, Praseodymium, Samarium and Yttrium.
Here is a list of uses for Rare Earth Elements (source: http://energy.gov)
Rechargeable batteries (in camcorders), cell phones, PDAs, laptop
Computers and other portable devices.
Wind turbines, drinking water filters, petrochemical catalysts,
Polishing powders, hydrogen storage, fluorescent lighting, flat panels,
Color televisions, glass, ceramics and automotive catalysts.
Fiberoptics, dental and surgical lasers, MRI systems, as medical
Contrast agents, in medical isotopes and in positron emission
Tomography scintillation detectors.
Magnetic refrigeration
Rechargeable batteries used in hybrid vehicles
Permanent magnets
Military application
Corresponding REE Pricing Chart -- To demonstrate current REE prices please visit www.mineralprices.com
With an increase in everyday usage combined with the lack of recoverability of REEs, a turnaround in the pricing may be on the horizon. "In 2013, only 1 or 2% or rare earths in end-of-use products are recovered by recycling -- this compared to 90% for iron and steel." - Rare Earths Science, Technology, Production and Use by Lucas, Lucas, Le Mercier, Rollat and Davenport
With strong initial readings, SourcingLink.net is taking steps to be a long term supplier of rare earth elements.
About The Eldor Project:
SourcingLink.net, Inc. signed an agreement to acquire 100% interest in the Eldor Rare Earth Property Claims (The Eldor Project) located in Northern Quebec, Canada. The Eldor Project consists of 32 mineral claims covering approximately 3719 acres and is located in Northern Quebec which is considered one of the most favorable mining jurisdictions in the world.
About SourcingLink.net, Inc.:
SourcingLink.net is a U.S. based publicly traded exploration and development company with a focus on rare metals and rare earth elements which are among the primary input materials of technology in the 21st Century.
Forward-looking Statements
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which contain words such as "expect," "believe" or "plan," by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
