Int'l Speculator refreshes Matamec buy

2013-06-14 19:11 ET - In the News


The International Speculator, in its June 6, 2013, issue, refreshes its buy of Andre Gauthier's Matamec Explorations Inc. at 15 cents, officially, "Buy first tranche." The newsletter said buy on Feb. 6, 2013, at 17 cents. Assuming an investment of $1,000, the holding is worth $874. The writer, in a substantial update on the company's affairs, called Matamec his favorite REE (rare earth elements) play. He said it was close to completing a bankable feasibility study on its first project, the Kipawa joint venture at Temiscaming, Que., with Toyota. He wanted answers to "critical questions" from management and came away with a favourable impression. First was to determine how realistic Matamec's proposed mineral-processing plan was, and to that end he spoke with the metallurgists working on Matamec's samples and the manager of hydrometallurgy at consultant SGS. They were "extremely confident" about the process they developed for mineral processing. Rare earth prices may fluctuate, he added, but Matamec has a partner that thinks long term and would want to see this project pushed ahead. The writer carefully qualified his enthusiasm by saying there was risk in the play, but of all the REE "lottery tickets" in the market, Matamec remained his favourite.