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Commerce Resources completes $3.5-million private placement

by Greg Klein | December 22, 2014

Commerce Resources’ (TSXV:CCE) Ashram rare earths deposit in Quebec has its finances strengthened with a $3.5-million private placement that closed December 22. The cash infusion follows last October’s oversubscribed $5-million private placement.

Commerce Resources completes $3.5-million private placement

A team of geologists examines
data at Ashram’s field office.

As Ashram moves towards pre-feasibility, the company now focuses on metallurgical studies that have already produced high-grade concentrates of over 40% total rare earth oxides with better than 70% recovery. A mini-pilot plant is scheduled to begin operations in late January.

The company has also retained Deloitte Global Metals & Mining Advisory Group to evaluate potential partnerships, joint ventures and offtake opportunities.

In British Columbia, Commerce’s Blue River tantalum-niobium project achieved a preliminary economic assessment in 2011 and a resource update the following year.

Read more about Commerce Resources here and here.

Read about rare earths in Canada.

Disclaimer: Commerce Resources Corp is a client of OnPage Media Corp, the publisher of The principals of OnPage Media may hold shares in Commerce Resources.

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