Great American Energy, Inc. announces 2013 exploration plan details for the Company's Phase I Bear Creek Rare Earth Project in BC, Canada, which warrants a further work program based on the property's potential mineralization.

The Company's exploration plan has been designed to better determine the resource and production potential of the Bear Creek Rare Earth Project, which consists of 10 mining claims totaling ~7,311 acres (~2,959 hectares) that contain potential for significant resources of rare earth elements (REEs) and may contain rare earth oxides.[1] The property lies within the Rocky Mountain Rare Metal Belt, which runs from southeast to northwest BC.[2] In total, the BC Geological Survey has mapped 106 rare metal and/or REE occurrences in the province, most of which fall within the belt.[3]

The Company's Phase I 2013 exploration program will obtain the maximum geological data possible through geochemical and geological mapping. Both of these approaches will collect significant information by providing at least two initial layers of geological data that can be coupled with a subsequent Phase II geophysical program to identify drill targets. In addition, neither geochemical nor geological mapping require a work permit, enabling the exploration program to advance more quickly and at lower cost.

                  

The 2013 exploration work area covers an 8-km² area (4-km east-west by 2-km north-south). The area was selected from areas that previously underwent assessment work in 2010 and 2011; yielded the highest REE assay results; and which correspond with local regional faulting and the Intrusive known as the Trail Pluton.

The Phase 1 exploration program will initiate defining the structural components, mineralized zones and extent of outcrop hosting the Chromite cubes/tetrahedrons REE rocks. Geochemical soil sampling will be performed across a 200m east-west area with 100m line spacing and sample sites offset by 100m to optimally cover the target area. It is expected that roughly 350 to 375 soil samples will be collected across the target area.

Detailed geological mapping of the area will occur at the same time as the soil sampling program. Mapping will focus on lithology, structure, alteration, mineralization and veining. Coupled with the mapping program will be prospecting and rock sample collection (roughly 40 to 50 rock samples) for REE analysis across the area of study.

"Our geochemical soil sampling and geological mapping efforts will effectively advance our understanding and assessment of the Bear Creek Rare Earth Project," commented Felipe Pimienta, Great American Energy's CEO. "Once our Phase I data is in hand and analyzed, we'll be better able to evaluate the project's full potential while determining next steps toward quantifying the project's resource and production potential."


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Following the launch of the coking coal futures, the voice of the industry on the introduction of rare earth futures trading is getting high. Analysts said it may be difficult to meet the requirement of the futures contract for Standardization, due to its various classification of rare earth products.

It is understood that, as a rare resource, our reserves of rare earths accounted for about 23% of the world's total reserves. After years of efforts, China has become the world's largest country of rare earth production, application and export. Nevertheless, China's rare earth enterprises still don't have the pricing power in negotiations with foreign buyers.

In recent years, with the increasing intensity of the rare earth mining of foreign countries, which reduce their dependence on China's rare earth export to some extent, the domestic rare earth prices immediately plunged into a decline. According to the data released, the annual average price of rare earth in China fell by about 40% in 2012, which closed to being "cut", and the average market price of dysprosium oxide and terbium oxide suffered declines of 40% and 46.6% respectively.

                  

What deserves our attention is that the decline of domestic rare earth price is difficult to stop. Analyzing from an official statistics from Baotou city, we learn that the domestic price of some rare earth products will still falling.

In view of this, after four months' halts of production, China's largest rare earth producer - Baotou Steel Rare Earth recover its production. Following it are two other great producer of rare earth, who resumed their production also. Even though, most of other producers are still on the sidelines.

With the gradual resumption of production of rare earth producers, the strategic pruchase and storage occurs to producers again. Recentlly, Yan Chunhua, the deputies to the National People's Congress, suggested that our country should do purchase and storage on rare earth industries with reasonable price on the basis of mining demand.

In fact, as early as in 2011, when the prices of rare earth suffered from sudden rises and drops, producers had already put forward the function of rare earth futures to maintain the stability of rare earth market.

Even so, analysts still have some doubts on the launch of rare earth futures.


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Grace Catalysts Technologies, an operating segment of W. R. Grace & Co. announced today pricing and market related actions in its Refining Technologies business. Grace is discontinuing the rare earth surcharge pricing mechanism it instituted in 2010 in response to the high volatility in the costs of various rare earths used in Grace's FCC catalysts and additives. Rare earth costs have stabilized in the past six months and the company believes the surcharge mechanism is no longer appropriate. Grace will reset the base price for FCC catalysts and additives to reflect current rare earth costs, and then raise those base prices for FCC catalysts and additives 10 percent, as contract terms allow.

The price increases are necessary due to significant investments made in the businesses over the past few years and to support continued investment in R&D, technical services, and planned capital investments.


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2011 experienced skyrocketing rare earth prices in the short-lived after a series of crash to record lows, and application of rare earths market also continued downturn and shrinking.
    
"At present, the rare earth is not rare." Yesterday (March 14), the Chinese Academy of Land and Resource Economics, said Dr. Li Ruijun future global rare earth supply and demand imbalances in. Yesterday, China's rare earth seminar sponsored in metal mesh Shui Road 2012 (third) a number of rare earth industry veteran for the plight of rare earth overcapacity issue of deep concern. It is worth noting that, in this year's "two sessions", the National People's Congress, when interviewed by the media, the Chinese Academy of Sciences, Yan Chunhua recommended the establishment of a rare earth futures platform.
    
Excess, in the rare earth industry has become a topic can not be ignored. According to a statistics official from Baotou City, in February, the domestic part of the rare earth product prices continue to fall. Among them, the average price of rare earth carbonate 32,000 yuan / ton, the chain fell 600 yuan / ton, down 37,000 yuan / ton; cerium oxide average price of 49,000 yuan / ton, unchanged, down 54,300 yuan / ton; lanthanum metal The average price of 85,000 yuan / ton, a decrease of 400 yuan / ton, down 40,000 yuan / ton.
    
WANG Zhong Shan, vice chairman of the Nanjing Research on Rare Earth, said at the meeting, many rare earth production enterprises underemployment, many products on the market has no market value, especially in light rare earth backlog more serious. "Due to the impact of 2011 rare earth prices spike, many downstream applications enterprises start looking for alternatives, and also to reduce the actual demand for rare earth." GAO Yu Xin, Shui Road metal mesh rare earth industry analyst, said the past two months to see, this year, the rare earth market is still not optimistic, 2013 RE market is still facing a lot of problems, must crack down on smuggling, private mining digging wrongdoing, strict enforcement of environmental standards.

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