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Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located within their Eldor Property, in northern Quebec, Canada. The company aims to be one of the lowest cost rare earth producers globally, with a specific focus on supplying mixed rare earth carbonate and/or NdPr oxide to the global market. With a large tonnage resource at favorable grade, the Ashram Deposit has shown the production of high-grade mineral concentrates at high recovery rates, aligning with leading global producers. Additionally, the company explores the potential of other commodities like niobium and phosphate minerals on the Property, aiming to reduce costs through shared development.
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Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0) terminates earn in agreement with Saville Resources Inc. for Niobium Claim Group Property. Saville owes Commerce $369,290.16, forgiven by Commerce. Property is prospective for niobium, tantalum, phosphate, and fluorspar. Saville's drill program shows potential for sizable niobium mineralized zone at Mallard Prospect.
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Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces changes to its Board of Directors, with the resignation of Dr. Axel Hoppe and the appointment of Mr. Jeremy Robinson. Dr. Hoppe's departure is effective immediately, while Mr. Robinson brings extensive experience in mineral exploration and project financing to the company. President Chris Grove expresses gratitude to Dr. Hoppe and welcomes Mr. Robinson to the board.
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Commerce Resources Corp. has produced an additional 0.6 kg of mixed rare earth carbonate concentrate to fulfill third-party sample requests. The sample has an NdPr distribution of 20.5% and TbDy distribution of 0.89%. 0.5 kg of the sample has been shipped to a downstream processor outside of China. The sample meets market specifications and contains approximately 54% REO with low levels of Th and U. The company aims to engage with global processors for a stable supply of mixed REE chemical concentrates.
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Commerce Resources Corp. has closed its non-brokered private placement, raising gross proceeds of $5,453,980. The offering was oversubscribed, and the company received subscription agreements to acquire 68,174,150 Units at a price of $0.08 per Unit. Each Unit consists of one common share and one common share purchase warrant. The net proceeds will be used for mineral resource estimate work, an updated Preliminary Economic Assessment, seeking a listing on the Australian Stock Exchange, and general working capital purposes.
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Commerce Resources Corp. has successfully produced additional amounts of mixed rare earth carbonate concentrate to satisfy third-party sample requests. The sample grades approximately 63% REO with high NdPr distribution of 21.1% and TbDy distribution of 0.82%. The strong NdPr distributions rank among the highest in the world and exceed that of several major global producers. This development enhances the company's strategy of engaging with global downstream processors and end-users for a secure and stable supply of high-quality mixed REE chemical concentrates.
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Commerce Resources Corp. announces non-brokered private placement offering of up to 60,000,000 units at a price of $0.08 per unit for gross proceeds of up to $4,800,000. Churchill SIG Pty Ltd. to act as exclusive lead manager and receive a cash fee equal to 5% of the amount raised under the offering. Proceeds will be used for resource update, updated Preliminary Economic Assessment, production of Rare Earth concentrates, and general working capital.
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Commerce Resources Corp. has signed an agreement with Zimtu Capital Corp. to receive services under the ZimtuADVANTAGE program. The agreement includes investor relations services and the Company will pay Zimtu $12,500 per month for a period of twelve months.
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FAQ
What is the current stock price of COMMERCE RES (CMRZF)?
The current stock price of COMMERCE RES (CMRZF) is $0.0599 as of November 14, 2024.
What is the market cap of COMMERCE RES (CMRZF)?
The market cap of COMMERCE RES (CMRZF) is approximately 17.0M.
Where is Commerce Resources Corp. located?
Commerce Resources Corp. is located in Vancouver, BC, Canada.
What is the focus of Commerce Resources Corp.?
Commerce Resources Corp. focuses on the development of rare earth and fluorspar deposits in northern Quebec, Canada.
What is the primary objective of Commerce Resources Corp.?
The primary objective of Commerce Resources Corp. is to become one of the lowest cost rare earth producers globally and supply mixed rare earth carbonate and/or NdPr oxide to the global market.
What sets Commerce Resources Corp. apart from other companies in the industry?
Commerce Resources Corp. distinguishes itself by aiming to produce high-grade mineral concentrates at high recovery rates, aligning with leading global producers, and exploring the potential of other valuable commodities like niobium and phosphate minerals.
What is the significance of the Ashram Deposit to Commerce Resources Corp.?
The Ashram Deposit offers a large tonnage resource at favorable grade, allowing Commerce Resources Corp. to demonstrate high-grade mineral concentrate production and positioning the company as a potential long-term supplier to global markets.
COMMERCE RES CORP
OTC:CMRZF
CMRZF Rankings
CMRZF Stock Data
16.96M
189.81M
7.46%
Other Industrial Metals & Mining
Basic Materials
United States of America
Vancouver