Commerce Resources Relases PEA for Ashram Rare Earth Element Deposit in Quebec; Shares Rise 35%

By Staff,

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Commerce Resources Corp. (CCE.V) today announces the results of a positive National Instrument 43-101 compliant Preliminary Economic Assessment (PEA) for the Ashram Rare Earth Element ( REE ) Deposit at the Eldor Property in Quebec.


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.

SGS'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.

Close to 750,000 shares have changed hands.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: NPV , REE

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