SAN DIEGO, CA--(Marketwired - Aug 4, 2014) - SourcingLink.net Inc. (PINKSHEETS: SNET) is continuing its work with its property and looking to expand its work in this growing sector. As the tech industry is in need of Rare Earth Elements ("REE") in its manufacturing, SourcingLink is constantly looking to work in its existing properties and potentially adding to its portfolio of existing properties. As per the recent published article in Mining.com article on June 29, 2014 the REEs support a manufacturing sector worth between $2 trillion and $4.8 trillion. Director general of the industry and analyst for the Canadian Department of Natural Resources, Christiane Villemure, says in its report: "Over the last 10 to 15 years, the world consumption of REEs has increased at 8% to 12% per annum, a trend that experts agree will continue, and may increase."
SourcingLink.net Inc. during Fiscal Year 2013 acquired The Eldor Property in Northern Quebec, Canada, which is located adjacent and contiguous to Commerce Resources Corporation's Ashram Deposit which currently has a Preliminary Economic Assessment (PEA) with a Net Present Value (NPV) at a 10% discount rate of $2.32 billion.
Rare Earth Elements are used in much of the today's technology items such as iPhones or smart phones, flat panel HD TV's, Hybrid Cars, Wind Turbines, iPad's and Computers including many other electronic devices and the Company believes that the demand for REE will only increase as it will be an integral part of technology in the future. According to Livescience.com "the elements rapid rise from lab curiosities to helping supply the hearts of modern electronics has put strain upon existing supply chains, and experts worry any supply disruptions could slow the pace of innovation. Now countries all over the world have begun racing to secure new reserves, boost recycling and find material substitutes for these energy critical materials."
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