Welcome to our dedicated page for Commerce Resourc news (Ticker: CMRZF), a resource for investors and traders seeking the latest updates and insights on Commerce Resourc stock.
Commerce Resources Corp. (OTCQX: CMRZF) generates news primarily around the advancement of its Ashram Rare Earth and Fluorspar Deposit and related critical mineral prospects on the Eldor Property in northern Quebec, Canada. Company announcements highlight technical milestones, exploration results, infrastructure funding and corporate transactions that shape the development path of this junior mineral resource company.
News releases frequently cover project development updates at Ashram, including metallurgical test work such as flotation locked-cycle testing that has produced high-grade rare earth mineral concentrates at strong recoveries. These updates often relate to the company’s work on a simplified flotation-only flowsheet and its integration into a planned Preliminary Economic Assessment for the Ashram Rare Earth and Fluorspar Deposit.
Investors and sector followers will also find detailed exploration news from the Eldor Property, particularly regarding niobium-focused drilling at prospects such as Mallard, Spoke, Miranna, Knox, Northwest and Moira. Commerce reports drill intercepts, interpretations of mineralized corridors and the potential for joint development scenarios where niobium, tantalum and phosphate occurrences could complement the Ashram rare earth and fluorspar resource.
Another recurring theme in Commerce’s news is infrastructure and funding. The company has announced conditional approval for funding from Natural Resources Canada’s Critical Minerals Infrastructure Fund to support access road work to Ashram, as well as private placements and convertible note financings intended to fund ongoing studies and working capital. Corporate and governance updates, including management changes, stock option grants and a proposed merger with Mont Royal Resources Limited to create a Québec-focused critical minerals developer with a dual ASX–TSXV listing, are also key elements of the news flow.
By following CMRZF news, readers can track how technical results, financing decisions, infrastructure initiatives and strategic transactions intersect in the evolution of the Ashram Project and the broader Eldor critical minerals portfolio.
Commerce Resources Corp. (TSXV:CCE) has entered into a definitive arrangement agreement with Mont Royal Resources (ASX: MRZ) to merge their businesses, creating a Québec-focused critical minerals developer. Under the agreement, Commerce shareholders will receive 2.3271 Mont Royal shares for each Commerce share, valuing Commerce at C$17.2 million with a 55% premium.
The merged entity will combine Commerce's Ashram Rare Earths and Fluorspar Project and Eldor Niobium Project with Mont Royal's Northern Lights Lithium Project. The transaction will result in a dual listing on TSXV and ASX, with Commerce shareholders owning approximately 85.3% of the combined company.
The deal includes a planned A$10.0 million equity raise by Mont Royal and a C$2.2 million convertible note financing by Commerce. The transaction is expected to complete in July 2025, subject to shareholder and regulatory approvals.
Commerce Resources Corp (OTCQX:CMRZF) has announced the grant of 2.5 million incentive stock options to its officers and consultants under its Equity Incentive Plan. The options allow holders to purchase company shares at $0.12 per share and are exercisable for three years until March 18, 2028. All options vest immediately and carry a four-month hold period.
The company's Interim President and CEO Jeremy Robinson indicated this move is aligned with their plans for a dual listing on the Australian Securities Exchange (ASX) and advancing the Ashram Project, emphasizing the importance of retaining key personnel who have contributed to the project's development.
Commerce Resources Corp (CMRZF) announced immediate management changes as CEO Ross Carroll steps down from his position and board membership by mutual agreement after six months of service. Jeremy Robinson, currently a non-executive Director, will serve as interim President and CEO.
Robinson's primary responsibilities will include overseeing the company's planned dual listing on the Australian Securities Exchange (ASX) in the coming months and managing the development of the Ashram Rare Earths Project. The company plans to appoint a permanent North America-based President and CEO following the completion of the ASX listing.
Commerce Resources Corp (CMRZF) has received conditional approval for $2.6M CAD funding from Natural Resources Canada's Critical Minerals Infrastructure Fund (CMIF) for developing an access road to the Ashram REE/Fluorspar Deposit in Nunavik, Quebec.
The funding will support the development of a 175km road between the Ashram project and the Koksoak River, enhancing access to the Nunavik region and supporting multiple projects and Indigenous groups. The infrastructure development is important for advancing the company's baseline studies, pre-feasibility study, and feasibility study.
The company has engaged Nuna Resources, a majority Inuit-owned construction company, to conduct a road study for the project. The Ashram deposit is recognized as the highest quality deposit of its type in Canada and among the best globally.
Commerce Resources Corp (TSXv:CCE, FSE:D7H0, OTCQX:CMRZF) announced the resignation of Jody Dahrouge from its Board of Directors, effective December 20, 2024. Dahrouge, who served as Director since January 2000, was instrumental in discovering the Ashram Rare Earth and Fluorspar project in 2008 and contributed to the company's recent Niobium exploration success. His team led the discovery of Ashram, and he played a important role in guiding the company's exploration and development programs. CEO Ross Carroll acknowledged Dahrouge's exceptional contribution to both Commerce Resources and the development of the Ashram REE project in Québec, Canada.
Commerce Resources Corp has confirmed significant niobium discoveries forming two high-grade trends surrounding the Ashram Rare Earth and Fluorspar Deposit in Quebec. The 2024 niobium-focused drill program revealed impressive results, including a notable intercept of 24.0 m at 0.91% Nb2O5 at the Mallard Prospect. New high-grade discoveries were made at the Northwest Prospect (7.5 m at 0.93% Nb2O5) and Moira Prospect (11.5 m at 0.63% Nb2O5). The program significantly expanded the niobium mineralized footprint with multiple prospects showing potential connectivity. All niobium prospects are within ~2 km of the Company's Ashram Deposit, which holds a resource of 73.2 million tonnes at 1.89% REO Indicated and 131.1 Mt at 1.91% REO Inferred.
Commerce Resources Corp. has successfully completed flotation locked-cycle testing on the Ashram Rare Earth and Fluorspar Deposit, achieving high-grade rare earth mineral concentrates of 35.8% to 36.8% REO with 65% to 68% overall recovery. The results significantly outperform the historical 10% REO concentrate grade from the 2012 PEA. The improved grades will be incorporated into a pending PEA update scheduled for Q2-2025. The higher-grade concentrate is expected to reduce downstream processing costs, plant size, and overall project risk. Variability and pilot plant testing are planned for early 2025, along with evaluation of fluorite recovery from tailings.
Commerce Resources has announced a significant niobium discovery at its Eldor Property in Quebec through its 2024 drill program. The Knox Prospect revealed substantial high-grade intercepts, including 69.4 m at 0.61% Nb2O5 within 96.5 m at 0.51% Nb2O5. The Miranna Prospect also delivered impressive results with 65.7 m at 0.53% Nb2O5, including 35.7 m at 0.67% Nb2O5. The discoveries are located within 2 km of the Company's Ashram Rare Earth and Fluorspar Deposit, which holds 73.2 million tonnes at 1.89% TREO (indicated) and 131.1 Mt at 1.91% TREO (inferred). Results from thirteen additional drill holes are pending.