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Industrial Metals Minerals
Quest Rare Minerals Ltd. is a Canadian mineral exploration and development company focused on the acquisition and development of rare earth element (REE) properties. The company's main project is the Strange Lake property, located in the Labrador Trough region of Quebec, Canada, which is considered to be one of the largest undeveloped REE deposits in the world.
As for the company's financials, Quest Rare Minerals Ltd. is a public company listed on the Toronto Stock Exchange (TSX) under the ticker symbol "QRM" and on the OTCQX market in the US under the symbol "QRMNF". However, it is important to note that the company has not generated any revenue yet as it is in the exploration stage. Therefore, the company does not have earnings to report.
The company's latest financial statements show that as of October 31, 2021, Quest had a working capital of $2.3 million and total assets of $22.4 million. The company's net loss for the year ended October 31, 2021, was $2.5 million, compared to a net loss of $4.5 million for the same period in 2020.
Regarding growth, the company's main focus is on the development of the Strange Lake project. The company has made significant progress in advancing the project towards production, including completing a positive preliminary economic assessment (PEA) in 2013. However, the company has faced several challenges, including declining REE prices and the need for additional financing. As of now, the company is working on updating its feasibility study and securing the necessary financing to advance the project.
In summary, Quest Rare Minerals Ltd. is a mineral exploration and development company focused on REEs, with its main project being the Strange Lake property in Quebec, Canada. The company is in the exploration stage and has not generated any revenue yet. While the company has made progress in advancing the Strange Lake project, it has faced several challenges, including declining REE prices and financing needs. Therefore, investors should carefully evaluate the company's financials and growth prospects before making investment decisions.