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Overview of Commerce Resources Corp.
Commerce Resources Corp. (OTCQX: CMRZF) is a junior mineral resource company dedicated to the exploration and development of critical mineral deposits. Headquartered in Vancouver, British Columbia, the company focuses on advancing its flagship Ashram Rare Earth and Fluorspar Deposit, located within the Eldor Property in northern Quebec, Canada. This deposit is one of the largest undeveloped rare earth element (REE) resources globally and includes a significant fluorspar component, positioning Commerce as a key player in the critical minerals supply chain.
Core Business Areas
The company's primary business revolves around the exploration, development, and potential production of rare earth elements and fluorspar. The Ashram Deposit is characterized by a simple mineralogy dominated by monazite, bastnaesite, and xenotime, which allows for efficient processing. The deposit has demonstrated the production of high-grade REE mineral concentrates (30-45% TREO) at high recovery rates (60-75%), competitive with established global producers. Additionally, the deposit's fluorspar component positions it as a potential long-term supplier to the met-spar and acid-spar markets.
Market Significance
Rare earth elements are indispensable in modern technologies, including electronics, renewable energy systems, aerospace, automotive, and defense applications. Fluorspar is a critical input in industries such as aluminum production, steelmaking, and lithium-ion batteries. With global demand for these materials surging, Commerce Resources is strategically positioned to address supply chain vulnerabilities, particularly in North America and Europe. The company's focus on producing mixed rare earth carbonate and NdPr oxide aligns with the growing demand for magnets used in electric vehicles and wind turbines.
Recent Developments and Exploration Highlights
- Niobium Discoveries: The company has made significant niobium discoveries at its Eldor Property, including high-grade intercepts at the Mallard, Spoke, Knox, and Miranna prospects. These discoveries enhance the property's strategic value, adding to its portfolio of critical minerals.
- Infrastructure Advancements: Commerce Resources has received conditional approval for funding from Natural Resources Canada's Critical Minerals Infrastructure Fund to develop an access road to the Ashram Deposit, facilitating logistics and supporting regional economic growth.
- Processing Innovations: Locked-cycle testing of the Ashram Deposit's simplified flotation-only flowsheet has demonstrated the production of high-grade REE mineral concentrates, significantly enhancing project economics and reducing technical risks.
Competitive Advantages
Commerce Resources benefits from several competitive advantages, including:
- Strategic Location: Situated in Quebec, Canada, the Ashram Deposit is in a geopolitically stable region with access to established infrastructure and skilled labor.
- High-Grade Resource: The Ashram Deposit boasts a large-tonnage resource with favorable grades, making it one of the most attractive rare earth and fluorspar projects globally.
- Diversified Portfolio: In addition to rare earth elements and fluorspar, the company is exploring niobium and phosphate, further enhancing its market appeal.
- Environmental and Social Responsibility: Commerce Resources is committed to sustainable development, working closely with Indigenous communities and adhering to stringent environmental standards.
Future Outlook
Commerce Resources is positioning itself as a low-cost producer of rare earth elements and fluorspar, with a focus on long-term supply agreements for mixed rare earth carbonate and NdPr oxide. The company is advancing its Preliminary Economic Assessment for the Ashram Deposit, scheduled for completion in Q2 2025, and continues to explore the potential of its niobium and phosphate prospects. With strong government and industry support, Commerce Resources is well-positioned to capitalize on the growing demand for critical minerals, contributing to the global transition toward a sustainable, low-carbon economy.
Commerce Resources Corp. (OTCQX:CMRZF) has completed its 2021 diamond drill program at the Ashram Rare Earth and Fluorspar Deposit in Quebec. The program consisted of 2,814 meters of drilling across 12 holes, exceeding the initial plan while remaining within budget. The drill focused on areas with high neodymium-praseodymium content, crucial for the ongoing Prefeasibility Study. The deposit is significant, with a measured resource of 1.6 million tonnes at 1.77% rare earth oxide. The company plans further hydrology studies and Qualified Person site visits this fall while adhering to COVID-19 protocols.
Commerce Resources Corp. (OTCQX: CMRZF) has initiated its 2021 drilling program at the Ashram Rare Earth and Fluorspar Deposit in Quebec. The drilling, supervised by Dahrouge Geological Consulting, will cover 2,500 meters and aims to enhance resource confidence by increasing indicated/measured resources. The program benefits from shared costs with Saville Resources, which is drilling nearby. The company is also advancing a Prefeasibility Study and developing its processing flowsheet while adhering to COVID-19 protocols.
Commerce Resources Corp. (OTCQX: CMRZF) announced an upcoming summer diamond drill program at the Ashram Rare Earth and Fluorspar Deposit in Quebec, set to begin July 10-12, 2021. The program, in partnership with Saville Resources, aims to optimize costs through shared resources. Approximately 2,500 m of NQ core drilling is planned across 15-20 holes, focusing on extending the deposit and upgrading resource confidence. The company is simultaneously advancing a Prefeasibility Study and adhering to COVID-19 safety protocols.
Commerce Resources Corp. (OTCQX:CMRZF) provided an update on its metallurgical program for the Ashram Rare Earth and Fluorspar Deposit. The program aims to produce approximately 2.5 kg of mixed rare earth carbonate (mixed REC) concentrate, up from the initial 1.1 kg. The concentrate is generated from high-grade monazite, exceeding 40% rare earth oxide (REO). The company also plans to explore partial separations to create marketable NdPr oxide products. These advancements align with Commerce's goal of becoming a low-cost rare earth producer.
Commerce Resources Corp. has successfully completed a non-brokered private placement, issuing 7,836,657 units at $0.33 each, raising gross proceeds of $2,586,097, which was oversubscribed by $586,097. Each unit consists of a common share and a warrant, exercisable at $0.44 for five years. The funds will support the development of the Ashram REE/Fluorspar Deposit and general working capital. Finder's fees of $85,661.40 were paid, and the issued securities are subject to a hold period. The Ashram Deposit is significant in both rare earth and fluorspar production.
Commerce Resources Corp. (OTCQX:CMRZF) has signed a one-year contract with 121 Group Ltd., publishers of The Assay Group Mining Magazine, for an annual fee of USD $15,000. This contract includes feature profiles in 4 editions of The Assay, weekly newsletter profiles, up to 4 Assay TV interviews, and coverage of select Commerce news releases. The aim is to enhance the company's visibility among institutional mining investors. The agreement is pending approval from the TSX Venture Exchange.
Commerce Resources Corp. announced a non-brokered private placement to raise $2,000,000 by issuing up to 6,060,606 units at $0.33 per unit. Each unit includes one common share and a share purchase warrant at $0.44 for five years. The Offering's record date is April 20, 2021, with priority for existing shareholders. Proceeds will fund the Ashram REE/Fluorspar Deposit and provide working capital. The Offering depends on TSX Venture Exchange approval and may involve finds fees. All securities will have a four-month hold period.
Commerce Resources Corp. (OTCQX:CMRZF) has announced a three-month agreement with Tormont50 for advisory and marketing services. The deal includes a monthly fee of $2,150, plus taxes, for services such as a growth report and exposure to Tormont50's audience. Commerce is focused on developing the Ashram Rare Earth and Fluorspar Deposit in Quebec, aiming to be among the lowest-cost rare earth producers globally. The Company seeks to supply mixed rare earth carbonate and/or NdPr oxide to the market.
Commerce Resources Corp. (OTCQX:CMRZF) has made significant progress on the Prefeasibility Study (PFS) for the Ashram Rare Earth and Fluorspar Deposit. The company has engaged specialized engineering firms, including DRA Americas Inc. and L3 Process Development, to enhance the project's flowsheet, introducing fluorspar recovery as a new revenue stream. CIMA+ is tasked with designing marine infrastructure, while BBA will focus on environmental studies and management. Advances made include improved concentrate grades and reduced tailings footprint, positioning Commerce as a potential low-cost producer in the rare earth market.
Commerce Resources Corp. (OTCQX: CMRZF) has delivered a 1.0 kg sample of 44.3% rare earth oxide (REO) monazite mineral concentrate from the Ashram Rare Earth and Fluorspar Deposit to an industry processor. This sample was produced using a conventional recovery process from leach residue established in 2015. The concentrate contains 21.2% NdPr oxide, surpassing many global producers. The Ashram deposit is among the few capable of producing high-grade concentrates, crucial for reducing downstream processing costs. The company continues its metallurgical programs to meet industry requests.
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