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Dear Eric,
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (OTCQX: CMRZF) announces that, further to its news release of May 24, 2012, it has filed its National Instrument 43-101 Technical Report entitled, "Preliminary Economic Assessment, Ashram Deposit for Commerce Resources Corp." ("PEA") dated July 5, 2012, on SEDAR at http://www.sedar.com.
The report has also been posted on the Commerce Resources corporate website and can be viewed by clicking here.
PEA Highlights:
- Study results show a strongly positive cash flow from a 4,000 tonne per day open-pit operation at Ashram with a 25-year mine life, a pre-tax and pre-finance Net Present Value (NPV) at a 10% discount rate of $2.32 billion, a pre-tax/pre-finance Internal Rate of Return (IRR) of 44% and a pre-tax/pre-finance payback period of 2.25 years.
- SGS Geostat�s economic evaluation was based on the March 6, 2012 resource estimate which used a base case geologic cut-off grade of 1.25% TREO and provided 29.3 million tonnes (Mt) of measured and indicated resource, as well as 219.8 Mt of inferred resource averaging 1.88% TREO.
- 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.
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
Corporate Communications
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$ 29.4 millions as of today (US$ 21.6 millions, € 19.4 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. |