japan asks australia for rare earth supply

Email received from Pancom (Crossland JV)


Dear Pancon Followers,
Today, I am sending you a brief article entitled "Japan asks Australia for rare earth supply".
This segment of the commodity market is quite new, yet major countries, including China, Japan and the US, seem to have been very publicly issuing position statements over the last few months, as Japan has in the article linked below. This suggests to me that the REE space is different than a fad or a bubble, as some observers have stated recently. Granted valuation metrics are still being argued, but it certainly appears that this once strategic, relatively unknown commodity group has made its way to the mainstream.
As you know, Pancontinental Uranium and its JV partner Crossland Uranium Mines, recently announced an REE discovery at Charley Creek in the Northern Territory, Australia. see November 1, 2010 PUC news release
We are all looking forward to seeing the first set of follow up REE results from our extensive sampling program very soon.
The meeting of both Companies' Boards of Directors held two weeks ago in Sydney was very positive and provided us all an intense two and a half days to focus on our 2011 plans and beyond. This was our first meeting marking PUC's earn-in of its 50% share in the Australian Uranium properties.
The combined experience in Uranium exploration and production in that "room" is difficult to describe. It was a pleasure to work closely with such an informed and successful group. Both companies look forward to providing you with a detailed 2011 exploration plan shortly.
After three years and $8 million dollars spent on our Australian properties, we are very comfortable in describing our 2011 work as advanced exploration and have high expectations for success.
The Joint Venture committee of the two Boards will be meeting later in the spring at the Charley Creek site.
Please stay in touch.
The article can be accessed by clicking this link:
Japan asks Australia for rare earth supply

Best regards,

Rick Mark
President & CEO
Pancontinental Uranium Corporation