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Posts Tagged ‘Commerce Resources’

OTC Markets Group Welcomes Equity Holding Commerce Resources Corp. to OTCQX

Monday, July 13th, 2015

OTCQX Markets - Commerce Resources Corp.

OTC Markets Group Inc., operator of Open, Transparent and Connected financial marketplaces, has announced that Commerce Resources Corp. (TSXv: CCE; OTCQX: CMRZF), an exploration and development company focused on rare metals and rare earth elements, has qualified to trade on the OTCQX® Best Marketplace.

Commerce Resources began trading on the OTCQX under the symbol “CMRZF”. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

“We are pleased to welcome Commerce Resources to our elite family of OTCQX U.S. and international companies,” said R. Cromwell Coulson, President and CEO of OTC Markets Group. “Trading on OTCQX will allow Commerce Resources to leverage its Canadian disclosure to increase its profile in the U.S. market and improve the information and trading experience for its U.S. investors. We look forward to supporting Commerce Resources in its continued growth and success.”

 

Commerce Resources Corp. Logo

Commerce Resources Corp. is an exploration and development company with a particular focus on deposits of rare metals and rare earth elements. The Company is specifically focused on the development of its Upper Fir Tantalum and Niobium Deposit at the Blue River Project in British Columbia, and the Ashram Rare Earth Project in Quebec. For more information on Commerce Resources and its exploration activities, visit www.commerceresources.com.

Zimtu Capital Corp. owns 3,584,178 common shares and 1,051,900 share purchase warrants of Commerce Resources Corp. (as at July 13, 2015). For more information on Zimtu Capital and our equity holdings, visit www.zimtu.com/s/CoreHoldings.asp.

 

Sincerely,

Dave Hodge

Dave Hodge
President
Zimtu Capital Corp.
Suite 1450 – 789 W Pender St.
Vancouver , BC V6C 1H2
Tel: 604.681.1568
http://www.zimtu.com

Commerce Resources Corp: Update on the Metallurgical Programs for the Ashram Rare Earth Element Deposit

Monday, December 15th, 2014

Commerce Resources Corp. (TSXv: CCE) provided an update on its metallurgical programs for the Ashram Rare Earth Element Deposit in northern Quebec.  The primary objectives of the programs are to demonstrate the entire flowsheet (mini-pilot / bench testing) through to the production of several kilograms of marketable mixed rare earth carbonate concentrate, and to produce a sample of high purity mixed RE chloride concentrate to further establish flowsheet product versatility.

News Release

Click Here for the Complete News Release

Highlights from the update include:

  • Reproduced baseline flotation flowsheet using varied Ashram feedstock material.
  • Improved flotation concentrate grades.
  • Improved flotation concentrate recoveries.
  • Initial program expanded to produe 500g of mixed RE chloride concentrate, of high purity, anticipated to further demonstrate flowsheet product versatility.
  • Demonstrated successful hydrochloric (HCl) acid regeneration on synthetic solution with up to 66% recovery into 24-26% HCl concentrated solution.

 

Figure 1:  Base Ashram Flowsheet for Production of High-grade (>40% TREO) Mineral Concentrate

Figure 1: Base Ashram Flowsheet for Production of High-grade (>40% TREO) Mineral Concentrate

 

Commerce Resources President Chris Grove stated, “These are significant results showing continued advancements on the fundamentals for our Ashram REE Deposit. We are fortunate to be able to underwrite programs both in the lab and in the field to advance our world class asset, and further, appreciate the interest we are receiving from industry.”

 

Zimtu Roadtrip 2014

Commerce Resources was a participant of Zimtu Roadtrip 2014.  The annual event brings mining executives and investors together in various European cities.  In 2014, there were events in Frankfurt, Munich, Zurich and Geneva.

We would like to share some of the photos:

Chris Grove, President of Commerce Resources in Frankfurt [Zimtu Roadtrip]

Chris Grove, President of Commerce Resources in Frankfurt, Germany [Zimtu Roadtrip]

Kevin Bottomley, Corporate Communication of Commerce Resources Corp. in Frankfurt, Germany [Zimtu Roadtrip]

Kevin Bottomley, Corporate Communication of Commerce Resources Corp. in Frankfurt, Germany [Zimtu Roadtrip]

Discussion of Commerce Resources Corp. by Dave Hodge, Dr. Hans Bocker and Sven Olsson at the Edelmetall- & Rohstoffmesse in Munich, Germany

Discussion of Commerce Resources Corp. by Dave Hodge, Dr. Hans Bocker and Sven Olsson at the Edelmetall- & Rohstoffmesse in Munich, Germany

Introduction of Company Presidents at the Edelmetall- & Rohstoffmesse in Munich, Germany [Zimtu Roadtrip]

Introduction of Company Presidents at the Edelmetall- & Rohstoffmesse in Munich, Germany [Zimtu Roadtrip]

Moderator Chris Berry with Panelists Chris Grove (Commerce Resources), Robert Bick (Prima Diamond) and Thomas Yingling (Arctic Star Exploration) in Zurich, Switzerland

Moderator Chris Berry with Panelists Chris Grove (Commerce Resources), Robert Bick (Prima Diamond) and Thomas Yingling (Arctic Star Exploration) in Zurich, Switzerland

Chris Grove, President of Commerce Resources, talks with investors at the Edelmetall- & Rohstoffmesse in Munich, Germany

Chris Grove, President of Commerce Resources, talks with investors at the Edelmetall- & Rohstoffmesse in Munich, Germany

Chris Grove (Commerce Resources), Frank Vogel (Baader Wertpapierhandelsbank), Michael Adams (Star IR) and Jim McKenzie (Ucore Rare Metals) at the Edelmetall- & Rohstoffmesse in Munich, Germany

Chris Grove (Commerce Resources), Frank Vogel (Baader Wertpapierhandelsbank), Michael Adams (Star IR) and Jim McKenzie (Ucore Rare Metals) at the Edelmetall- & Rohstoffmesse in Munich, Germany

Chris Grove, President of Commerce Resources, in Zurich, Switzerland [Zimtu Roadtrip]

Chris Grove, President of Commerce Resources, in Zurich, Switzerland [Zimtu Roadtrip]

Chris Grove, President of Commerce Resources, in Geneva, Switzerland

Chris Grove, President of Commerce Resources, in Geneva, Switzerland

Corporate Presentation Featuring Commerce Resources Corp. at the Edelmetall- & Rohstoffmesse in Munich, Germany

Corporate Presentation Featuring Commerce Resources Corp. at the Edelmetall- & Rohstoffmesse in Munich, Germany

Chris Grove (Commerce Resources) and Anthony Vaccaro (Nothern Miner) in Zurich, Switzerland [Zimtu Roadtrip]

Chris Grove (Commerce Resources) and Anthony Vaccaro (Nothern Miner) in Zurich, Switzerland [Zimtu Roadtrip]

Chris Grove (Commerce Resources) and Chris Berry (House Mountain Partners) in Munich, Germany

Chris Grove (Commerce Resources) and Chris Berry (House Mountain Partners) in Munich, Germany

 

Other companies participating in the Zimtu Roadtrip 2014 were Arctic Star Exploration Corp., BioMark Diagnostics Inc., Cambridge House International, Canadian Securities Exchange, Electra Gold Ltd., House Mountain Partners LLC, Lakeland Resources Inc., Northern Miner, Pasinex Resources Ltd., Prima Diamond Corp., Red Oak Mining Corp., Rockstone Research Ltd., SecureCom Mobile Inc., True Leaf Medicine Inc., Urban Barns Foods Inc., W.D. Latimer Co. Ltd., Western Potash Corp., Wolverton Securities Ltd. and WPC Resources Inc.

 

Sincerely,

Dave Hodge

Dave Hodge
President
Zimtu Capital Corp.
Suite 1450 – 789 W Pender St.
Vancouver, BC
V6C 1H2
Tel: 604.681.1568
http://www.zimtu.com

 

Disclosure: Zimtu Capital Corp. owns 3,584,178 common shares of Commerce Resources Corp. (as at Dec 15, 2014).  For more information on Zimtu Capital and our equity holdings, visit http://www.zimtu.com/s/CoreHoldings.asp.

 

Zimtu Research & Opinion: Commerce Resources Corp.’s Drill Results from the Ashram Rare Earth Project

Thursday, July 3rd, 2014
TSXv: CCE

TSXv: CCE

Commerce Resources Corp. (TSXv: CCE) released a follow-up set of drill results on July 2, 2014 from the wholly owned Ashram Rare Earth Deposit in Quebec.  The results were again impressive and offered a few additional positive surprises.  These most recent drill results should be considered in conjunction with the previous year’s infill drilling program – the results of which were released on January 10, 2014 – and proven ability to consistently raise capital.  As recently as March 10, 2014 CCE closed a brokered private placement for the gross proceeds of C$2,540,400 at $0.20 per share for the non-flow through portion of the raise.  Importantly, this price was more than three times the 52-week low of $0.06 experienced in December 2013.  CCE directed approximately 40% of the capital raised toward the most recent completed drill program; indicating management’s intentions to continue to advance the Ashram Deposit to Prefeasibility (PFS) while retaining sufficient cash balances and marketable securities to handle working capital requirements.

The Results – Positive Surprises:

In the news released on January 10, 2014, CCE announced the completion of 1,177 metres of mostly infill drilling.  The main focus of the program was centered on the Middle and Heavy Rare Earth Oxide (MHREO) Zone, where it is ultimately expected the open-pit would commence.  Continuing with this expectation, the July 2, 2014 news release announced the completion of an additional 1,557 metres of infill drilling focused on the same MHREO Zone.  This brings the approximate total of infill drilling of the deposit, including the MHREO Zone, to 2,734 metres.  

Ashram Rare Earth Project 2014 Drill Plan

Ashram Rare Earth Project 2014 Drill Plan

The basic intent of these two drilling programs was to upgrade a portion of the inferred mineral resources to the measured and indicated category (M&I) for the open pit production scenario.  In other words, increase the resource confidence as is required for a PFS.  The expectation being, CCE requires approximately 36 million tonnes in the M&I category for the open-pit based on the projected daily extraction rate of 4,000 tonnes.  The 2012 PEA for the Ashram  stated an M&I resource of 29.3 million tonnes at 1.90% total rare earth oxide (TREO) and an inferred resource of 219.8 million tonnes at 1.88% TREO based on 15,692 metres drilled.  However, these figures include M&I resources from depths below the proposed pit.  Therefore, the addition of over 2700 metres of infill drilling has likely materially increased the M&I category for the open-pit from ~10-12 million tonnes ever closer to the ~36 million tonne target.  And while, infill drilling is typically a boring affair; CCE has made several positive discoveries that further strengthen the robust economics of the Ashram Project, including:

1.       Interpreted extensions of the MHREO Zone where it had not been previously modelled

  • After drilling holes EC14-099, EC14-100, and EC14-103, CCE is pleased to report the intersection of what appears to be up to four extensions of the same mineralization that is found centrally located in the MHREO Zone. Further, the MHREO Zone starts almost directly at surface under only a few metres of overburden. In the cross section accompanying this release the project geologists have suggested a scenario of how these extensions may look.

2.       Long, continuous, high grade intersections above the resource grade within the pit

  • Outside of the MHREO Zone CCE reports encountering 96.66 metres of 2.32% TREO, above the reported average grade for the Ashram Deposit of approximately 1.9%.  This is a significant intersection, and the additional possibility of simply mining more material of a higher grade may be a harbinger of potentially improved economics in the PFS.  However, it is important to note that this event is not necessary as the preliminary economic assessment (PEA) concluded the net asset value of the Ashram to be C$2.3 billion with an IRR of 44%.

3.       Discovering additional in-pit mineralized material at the north end of the deposit where waste had been modeled

  • Discovering mineralized material where waste rock was initially modelled in the PEA by SGS, is another positive development for the Ashram Project.  The anticipation being this should lower what was already an extremely low strip ratio of 0.2:1, as well as allowing for additional pit optimization.

On a final note, CCE has also completed 3 short drill holes in Centre Pond to identify the location of where the dyke is anticipated to be constructed.  Centre Pond sits above the eastern half of the deposit, but is very shallow being only a few metres deep.

Ashram Rare Earth Project Cross-Section

Ashram Rare Earth Project Cross-Section

We view this latest news release as another signal that CCE is moving ahead in a practical manner by taking important fundamental steps to advance the Ashram Project towards a PFS and one step closer to potential production.

 

Sincerely,
Derek Hamill
Zimtu Capital Corp.
Suite 1450 – 789 W Pender St.
Vancouver, BC
V6C 1H2
Tel: 604.681.1568
http://www.zimtu.com

Disclaimer and Information on Forward Looking Statements: All statements in this newsletter, other than statements of historical fact should be considered forward-looking statements. These statements relate to future events or future performance.  Forward looking statements in this document include, but are not limited to: Therefore, the addition of over 2700 metres of infill drilling has likely materially increased the M&I category for the open-pit from ~10-12 million tonnes ever closer to the ~36 million tonne target; that CCE is moving ahead in a practical manner by taking important fundamental steps to advance the Ashram Project towards a PFS and one step closer to potential production. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.  Risks include misinterpretation of data, inability to attract and retain qualified people, inability to raise sufficient funds to carry out our plans or even to continue operations, among other risks. Risks and uncertainties respecting mineral exploration companies and Commerce Resources in particular are disclosed in the annual financial or other filing documents of Commerce Resources and other junior mineral exploration companies as filed with the relevant securities commissions, and should be reviewed by any reader of this article. Despite encouraging results, there may be no commercially viable minerals on Commerce Resources’ property, and even if there were, Commerce Resources may not be able to commercialize them.

Disclosure: The author of this report is paid by Zimtu Capital Corp., a TSX Venture Exchange listed Investment Company. Part of the author’s responsibilities at Zimtu is to research and report on companies in which Zimtu has an investment.  So while the author of this report is not paid directly by Commerce Resources, the author’s employer Zimtu will benefit from appreciation of Commerce Resources’ stock price. At the time of writing Zimtu is long 4,056,178 shares of Commerce. In some cases, the companies we feature have one or more common directors with Zimtu Capital Corp. The author wrote this article himself, and it expresses his own opinions.


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