Uranium Renaissance In Elliot Lake

One uranium district completely ignored by the investment community today is Elliot Lake, Ontario.  More than 300 million pounds of uranium were mined in Elliot Lake, Ontario by Rio Algom and Denison Mines.  The Elliot Lake Mining Camp is known as the Uranium Capital of the World and was the only Canadian mine that commercially produced Rare Earth Oxides.    The Elliot Lake mines were closed down in the 90's when rare earths were unknown and worth little and uranium was trading below $20 a pound.  Being a past producing district of both uranium and rare earths gives an advantage to Pele Mountain Resources (GEM.V or GOLDF) a small junior miner, who will hopefully begin feasibility on their enormous and valuable Eco Ridge resource.  ?

Operating in an established, past producing district with power, labor and infrastructure is crucial when evaluating the potential viability of mining development.  Every twenty to thirty years Elliot Lake goes through a boom cycle.  Even though the Athabasca region has higher grade uranium, mining and processing is a lot more challenging.  

Pele Mountain (GEM.V or GOLDF) may provide excellent leverage to uranium and rare earths for investors at these discounted levels.  Elliot Lake is a proven rare earth and uranium mining district which is very supportive of Pele Mountain's Eco Ridge Mine. 

Pele has a proven commercial processing method unlike so many other rare earth juniors of recovering the valuable rare earths used in the latest green energy technologies such as wind turbines and high efficiency lighting.  Pele has the Elliot Lake technical team led by Roger Payne who has the experience designing and developing efficient and safe production of critical clean energy metals such as uranium and rare earths.  

Disclosure: Author/Interviewer owns Pele and company is sponsor on website.