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Dear Eric,
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (OTCQX: CMRZF) is pleased to announce that it has engaged Roche Ltd. (Roche) to complete a Pre-feasibility Study (PFS) on the Ashram Rare Earth Element Deposit, located within the Labrador Trough in north-eastern Quebec. Work on the PFS has commenced and is planned for completion in Q4 2013 / Q1 2014.
About the Ashram Rare Earth Element Deposit
The Ashram Rare Earth Deposit is a carbonatite within the Eldor Property, located in north-eastern Quebec. The Ashram Deposit has a measured and indicated resource of 29.3 million tonnes at 1.90% TREO and an inferred resource of 219.8 million tonnes at 1.88% TREO. The deposit boasts a well-balanced distribution with enrichment in the light, middle and heavy rare earth elements including all five of the most critical elements such as neodymium, europium, dysprosium, terbium, and yttrium.
The rare earth elements at Ashram occur in simple and well-understood mineralogy, being primarily in the mineral monazite and to a lesser extent in bastnaesite and xenotime. These minerals dominate the currently known commercial extraction processes for rare earths.
A Preliminary Economic Assessment, completed in May of 2012 by SGS-Geostat of Montreal (Blainville) (See news release dated May 24, 2012), outlines highly robust economics for the Ashram Project. The PEA is based on a 4,000 tonne per day open-pit operation with an initial 25-year mine life (300 years at economic cut-off if open-pit + underground development), a pre-tax and pre-finance Net Present Value (NPV) of $2.32 billion at a 10% discount rate, a pre-tax/pre-finance Internal Rate of Return (IRR) of 44%, and a pre-tax/pre-finance payback period of 2.25 years.
Click Here to Read Today's News Release
For more information on Commerce Resources Corp:
Following your review, if you have any questions, feel free to contact investor relations at 604.484.2700 or toll free at 1.866.484.2700.
Sincerely,
Chris Grove
Managing Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Disclaimer: This email does not constitute investment advice. Commerce Resources Corp. provides investor relations materials for convenience and information only.
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Commerce Resources Corp. | Suite 1450 - 789 West Pender Street | Vancouver | BC | V6C 1H2 | Canada | |
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Commerce Resources Corp.
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EXPLORATION STAGE |
CODE : CCE.V |
ISIN : CA2006971006 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Commerce Resources is a silver and gold development stage company based in Canada. Commerce Resources holds various exploration projects in Canada. Its main exploration properties are ELDOR, BLUE RIVER - FIR, CARBOT, AU-WEN CLAIMS and CABLE CREEK in Canada. Commerce Resources is listed in Canada and in Germany. Its market capitalisation is CA$ 36.7 millions as of today (US$ 26.9 millions, € 25.2 millions). Its stock quote reached its highest recent level on May 11, 2007 at CA$ 1.80, and its lowest recent point on August 16, 2019 at CA$ 0.04. Commerce Resources has 293 860 000 shares outstanding. |