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Commerce Resources Corp. Intersects 2.02% TREO over 303.42 m at the Eldor Property, Quebec and up to 33% Heavies
Press Release Source: Commerce Resources Corp. On Thursday November 25, 2010, 8:00 am EST
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-1621825124.html?x=0&.v=1
Carbo Drill Core Displays Abundant REE Minerals
Nov. 8, 2010 (Market News Publishing) --
http://www.cdnintlminerals.com/s/StockInfo.asp
CANADIAN INTERNATIONAL MINERALS INC ("CIN-V") COMMERCE RESOURCES CORP. ("CCE-V") - Carbo Drill Core Displays Abundant REE Minerals
Canadian International Mineral Inc. and Commerce Resources Corp. are pleased to update the current and ongoing diamond drill program on their Carbo Rare Earth Element (REE) property. CIN is earning a 75% interest in the property from Commerce Resources Corp. (CCE), and is meeting all conditions of the agreement to earn their interest. Drilling is currently on the eighth diamond drill hole (DDH). Total core as of late November 6 was 1226 meters. Drilling will continue until weather dictates the end of safe and cost effective working conditions.
Core is flown out daily to a staging area about 1km from the drill site and trucked to a secure core processing and storage facility in Prince George. There it is logged and sawn by Mackevoy Geosciences Ltd. personnel and shipped to ALS Chemex via DHL. Samples are pulverized, split and analyzed using Au FA ICP-AES finish (gold fire assay), Whole Rock ICP-AES, 38 element fusion ICP -MS (includes all REEs) and trace lead and zinc packages. No assays have been received and first results are anticipated in two weeks.
The Carbo property comprises 7 claims totalling an area of 2,778.63 hectares and is accessible by all weather gravel roads. It is located in the emerging Wicheeda REE carbonatite camp approximately 80 km north east of Prince George, B.C., on the western margin of the Rocky Mountain trench, a major continental geologic feature which is now recognized as the locus of numerous potentially economic concentrations of rare metals. Much of this terrain has seen very little exploration incorporating current models and modern technology. It is adjacent to and contiguous with Spectrum Mining's Wicheeda rare metals discovery, as described in B.C.G.S. Assesement Report # 30873. The Carbo drill targets are within 900 meters of Spectrum's 2009 drilling.
The region has garnered significant attention due to the discovery of significant REE mineralization associated with the Wicheeda Carbonatite-Syenite Complex. The Carbo Property covers in excess of 6 km strike length of the complex, which is manifested as an elongate, northwest to southeast trending geophysical anomaly.
A geological synopsis has been provided by Allison Brand, M.Sc. Mackevoy Geoscience Ltd. as follows.
The area currently undergoing diamond drilling corresponds to a distinct airborne geophysical anomaly and coincident soil sample assays from several locations with anomalous rare earth elements and pathfinders. Diamond drill core from the initial five holes has been examined and all holes intersect sections of carbonatite, associated alkaline dykes and metasomatic alteration. Assays are expected shortly from all drill core in the first two drill holes.
Carbonatite intersections can be thin to several tens of metres in thickness, and are generally planar and parallel to host rock (siltstone/phyllite) fabric, which is consistently subvertical. Occasionally the carbonatite is transitional to some of the alteration styles or occurs as crosscutting dikes or veins. Interfingered layering and breccia matrix infill of fine-grained, carbonatite material occurs near or at carbonatite contacts. Carbonatite is typically a combination of crystalline calcite, dolomite, and/or ankerite, accompanied by a variety of rare element accessory minerals. The host rocks around the intrusive are altered in a variety of modes, to varying degrees. The alteration variably consists of bleaching, hornfelsing, pyritization, Na-K-carbonate metasomatic halo, and flooding of grey-blue feldspar-feldspathoid proximal to carbonatite. In addition, carbonate-bearing alkaline dikes that crosscut the host rocks are sulphide-rich (sphalerite, pyrite, pyrrhotite and galena).
Several research samples were chosen to elucidate the composition and identities of accessory minerals in carbonatite and its associated alteration zones. These samples were investigated via scanning electron microscopy (SEM) by Prof. Lee Groat, Dr. Jim Evans, and Dr. Leo Millonig of the University of British Columbia's Mineralogical Research Group. Most significantly, REE-carbonate phase(s) were identified in carbonatite, and likely correspond to a combination of bastnae-sitesynchysite-parisite. Where concentrations of this mineral assemblage were reported they were noted to be up to 50% of the interval by mode. Sphalerite, strontianite (strontium carbonate), an unknown Ni- Fe-Cr oxide, barite, columbite((Fe, Mn)(Nb, Ta)2O6) and Nb-rich rutile were also identified. Significant sulphide is also present in deeper carbonatite intervals: phases identified in core include sphalerite, galena, pyrite, pyrrhotite, and chalcopyrite. The SEM investigation also confirmed the presence of feldspathoid and feldspar phases in alteration zones.
The style of mineralization thus far observed, is consistent with known occurrences of REE mineralization within the region. As previously stated, all core from the first two holes is currently being assayed.
CIN and CCE are proud to be sponsors of the upcoming International Workshop on the Geology of Rare Metals in Victoria November 9-10 organized by the British Columbia Geological Survey, Geological Survey of Canada and the Pacific Section of the Geological Association of Canada. We are also honored that five of our consultants or members of CINs advisory board are presenting or authored papers for the workshop. They are Professor Lee Groat, Ph.D., and David Turner, M.Sc. (University of B.C., Mackevoy Geoscience Ltd.), Professor Anton Chakhouradian Ph.D. and Ryan Kressell M.Sc. (University of Manitoba) and Professor Roger Mitchell Ph.D. (Lakehead University).
Select sections of core from the current drilling program at Carbo are being sent out for further study, and.pictures of mineralized core are available for viewing on the company's website.
The Qualified Person who has reviewed the technical data for this news release is Thomas Hasek P.Eng.
Michael E. SchussCEO, Director
The TSX-V has neither approved nor disapproved the contents of this news release.
Commerce Resources Drilling at Ashram Rare Earth Zone Expands Tonnage Potential and Returns 2.15% TREO over 42.90 m, Eldor Project, Quebec
Press Release Source: Commerce Resources Corp. On Tuesday November 2, 2010, 3:01 am EDT
http://finance.yahoo.com/news/Commerce-Resources-Drilling-cnw-2407477088.html?x=0&.v=1
Commerce Resources Corp. and Canadian International Commence Drilling on the Carbo Rare Earth Project, B.C.
Press Release Source: Commerce Resources Corp. On Wednesday October 20, 2010, 9:23 am EDT
http://finance.yahoo.com/news/Commerce-Resources-Corp-and-cnw-3742699700.html?x=0&.v=1
VANCOUVER, Oct. 20 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company" or "Commerce") is pleased to report that its joint venture partner Canadian International Minerals Inc. (TSXv: CIN) ("Canadian International") has commenced a minimum 1,000 metre diamond drill program on the Carbo Rare Earth Project in northeastern British Columbia.
The program is designed to drill at least 12 diamond drill holes from up to 6 drill sites. Drilling targets have been selected based on the results from a recently completed high resolution Aeroquest Radiometric-Mag survey (50 metre line spacing) and closely spaced auger soil geochemical sampling (25 metre grid).
Expansion of the 1,000 metre drilling program will be dependent on results and weather conditions. Core logging and storage facilities have been arranged in Prince George, B.C. to facilitate secure and timely data acquisition and sampling. Samples will be sent to ALS Chemex labs in North Vancouver, B.C.
The Carbo Property comprises seven claims totaling 2,778 hectares and is accessible by all-weather gravel roads. The project is located 80 kilometres northeast of Prince George, B.C. within the Wicheeda carbonatite camp and is directly adjacent to and contiguous with Spectrum Mining Corporation's Wicheeda rare earth element discovery. A map with the location of the Carbo claims and Spectrum's rare earth element discovery is posted at: http://www.commerceresources.com/s/Carbo.asp
The goal of the drilling program is to identify carbonatite hosted rare earth element and rare metal mineralization. Carbonatites and carbonatite related deposits are a major host for known and producing rare earth element deposits. Several of the world's largest rare earth element deposits and mines, including Lynas Corporation's (ASX: LYC - News) Mt. Weld deposit in Australia, and Molycorp Inc's (NYSE: MCP - News) Mountain Pass deposit in the United States, are hosted by carbonatites.
Canadian International has the option to earn up to a 75% interest in the Carbo Project by paying Commerce $30,000 cash, issuing 1,500,000 common shares and incurring a total of $198,000 in exploration expenditures over a three year period. Commerce also retains a 2% NSR Royalty on the claims.
Appointment of Chief Financial Officer
Commerce is also pleased to announce the appointment of Jody Bellefleur as the Chief Financial Officer of the Company. Ms. Bellefleur is a CGA with over 14 years experience as a corporate accountant. Ms. Bellefleur was an accountant with a private manufacturing company for 12 years and more recently, has worked independently as an accountant for various publicly listed mineral exploration companies. Ms. Bellefleur is a graduate of the University of British Columbia with a Bachelor of Commerce degree, specializing in Accounting and has been a member of the Certified General Accountants Association of British Columbia since 1998.
NI 43-101 Disclosure
Jody Dahrouge, P.Geol, VP of Exploration and Director of the Company, a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare metal deposits with potential for economic grades and large tonnages. The Company is specifically focused on the development of its Upper Fir Tantalum and Niobium Deposit in British Columbia, its Eldor Rare Metal Project in northern Quebec and the Carbo Rare Metal Project in northern British Columbia.
On Behalf of the Board of Directors COMMERCE RESOURCES CORP.
David Hodge President and Director Tel: 604 484 2700 TF: 866.484.2700 Email: info(at)commerceresources.com Web: http://www.commerceresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future.
Forward looking statements in this news release include that the diamond drill program is designed to drill at least 12 diamond drill holes from up to 6 drill sites, that expansion of the 1,000 metre drilling program will be dependent on results and weather conditions, that core logging and storage facilities have been arranged in Prince George, B.C. to facilitate secure and timely data acquisition and sampling, that samples will be sent to ALS Chemex labs in North Vancouver, B.C. and that the goal of the diamond drill program is to identify carbonatite hosted rare earth element and rare metal mineralization.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices for tantalum & niobium and other rare metals may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.
Readers should refer to the risk disclosures outlined in the Company's Management Discussion & Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
please visit the corporate website at http://www.commerceresources.com or contact Investor Relations at 1.866.484.2700 or info@commerceresources.com.
Commerce Resources Corp. Drills 1.95% TREO over 243.84 metres, including 2.41% TREO over 28.32 metres, in Second Hole at the Eldor Property in Quebec
Press Release Source: Commerce Resources Corp. On Wednesday September 15, 2010, 9:30 am EDT
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-3797522837.html?x=0&.v=1
VANCOUVER, Sept. 15 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company" or "Commerce") is pleased to announce that the results from the second hole of the 2010 drilling program at the Eldor Project in Quebec, has further confirmed the potential for a significant new, and large tonnage, rare earth element ("REE") discovery at the Ashram Rare Earth Zone.
The program's second hole, EC10-028 was collared in mineralization with results as follows:
- 1.95% Total Rare Earth Oxides ("TREO") over 243.84 metres (2.53 to 246.37 m) [Including 2.40% TREO over 29.99 m (38.25 to 68.24 m) and; 2.41% TREO over 28.32 m (130.58 to 158.90 m)
- 0.79% TREO over 17.63 m (246.37 to 264.00 m) in a lithologically distinct zone beneath the interval above
Significant tonnage potential has been indicated by the broad thickness and relative continuity of grade encountered thus far in the first two holes at the Ashram Zone. The second hole returned a mineralized interval increased in both grade and width compared to the program's first hole, EC10-027 which returned 1.72% TREO over 215.30 m (see news release dated August 19, 2010). In addition, four samples assayed higher than 3% TREO (3.12%, 3.18%, 3.29% and 4.35%) and are the highest REE values intersected in core on the property to date, indicating the possibility that higher grade zones may exist within the
target area.
EC10-028 was drilled with BTW size core at an azimuth of 230 degrees and dip of -45 degrees, and was located approximately 50 m northwest of the programs first hole, EC10-027. Drilling to date does not yet allow for an accurate estimation of the dimensions of the REE-bearing zone at Eldor, as such, no estimation of true thickness for the first two drill holes has been made.
The four most abundant REEs that make up the TREO reported above are cerium, lanthanum, neodymium, and praseodymium. Complete analytical results along with a drill hole plan map have been posted on the Company's website at: http://www.commerceresources.com/s/Eldor.asp
A total of six holes (1366.38 m) have now been completed at the Ashram Rare Earth Zone with assays for the remaining four holes pending. All six holes collared in mineralization, intersecting the same three lithologies encountered in the first two holes (A-Zone, B-Zone, and BD-Zone). The results from the remaining holes will be reported as soon as they are received from the lab.
The first two holes EC10-027 and EC10-028 tested surface mineralization to depth on the Ashram Peninsula along the western flank of a magnetic low that defines the target area, measuring approximately 1 kilometre by 0.8 kilometres in size.
EC10-029 was located approximately 70 m in front of EC10-027 and was drilled at an azimuth of 230 degrees, dip of -45degrees and to a total depth of 220.37 m. The hole will allow for a more accurate orientation of each mineralized zone to be determined as well as probing the extent of mineralization to the southwest.
EC10-030 and EC10-031 were located approximately 210 m north of EC10-028 and targeted an area with some of the highest-grade mineralized outcrop discovered so far at the Ashram Zone. Both holes were drilled from the same set-up at an azimuth of 230 degrees and dip of -45 degrees and -65 degrees respectively and total depths of 102.18 m and 117 m respectively.
EC10-39 was collared on the eastern side of Centre Lake, approximately 410 m east of EC10-028, and drilled at an azimuth of 230 degrees and dip of -75 degrees. Lithologically, this hole was extremely encouraging over its entire length and ended prematurely within the A-Zone at a depth of 348.96 m due to drilling complications.
Drilling to date at the Ashram supports a cone-shaped model for the deposit, dipping inwards towards the centre of the magnetic low. The A-Zone would occupy the inner core, grading outwards into the B-Zone and finally to the BD-Zone along its outer layer. Further drilling is required to confirm and more accurately refine the deposit's geometry. The Ashram Rare Earth Zone remains open to the east, south, north, and at depth and is not fully constrained to the west.
All samples were analyzed by Activation Laboratories of Ancaster, Ontario using their method 8 - major oxide, rare earths and trace element package by Fusion ICP and ICP/MS.
The Eldor Property covers a carbonatite complex located within the central Labrador Trough located in northern Quebec; approximately 130 km south of the town of Kuujjuaq. The property is 100%-owned by Commerce and encompasses 404 claims totalling approximately 19,006 hectares.
Geologically, the Eldor Project represents one of the largest carbonatite complexes known worldwide. Carbonatite related deposits are a major host for rare metals such as niobium and tantalum and rare earth elements. Geologically similar exploration projects include Hudson Resources Inc.'s Sarfartoq Carbonatite Project in Greenland and Rare Element Resources Ltd.'s Bear Lodge Carbonatite Project in Wyoming.
Sufficient working capital is available to complete all of the Company's development and exploration plans. As of the latest financials, April 30th, 2010, the Company had approximately $19 million in cash and investments.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare metal deposits with a potential for economic grades and large tonnages. The Company is specifically focused on the development of its Upper Fir Tantalum and Niobium Deposit in British Columbia and is also exploring its Eldor Project in northern Quebec and the Carbo Project in northern British Columbia.
On Behalf of the Board of Directors COMMERCE RESOURCES CORP. David Hodge President and Director Tel: 604 484 2700 TF: 866.484.2700 Email: info(at)commerceresources.com Web: http://www.commerceresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that as four samples assayed higher than 3% TREO, higher grade zones may possibly exist within the target area; that assays for the remaining four holes completed at the Ashram Rare Earth Zone are pending and that the results will be reported as soon as they are received from the lab, that hole EC10-029 will allow for a more accurate orientation of each mineralized zone to be determined as well as probing the extent of mineralization to the southwest and that further drilling is required to confirm and more accurately refine the deposit's geometry.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.
Readers should refer to the risk disclosures outlined in the Company's Management Discussion & Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
please visit the corporate website at http://www.commerceresources.com or contact Investor Relations at 1.866.484.2700 or info@commerceresources.com
Commerce Resources Corp. Drills 1.72% TREO over 215.30 metres in First Hole at the Eldor Property in Quebec
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-4040614198.html?x=0&.v=1
Press Release Source: Commerce Resources Corp. On Thursday August 19, 2010, 5:03 pm EDT
VANCOUVER, Aug. 19 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company") is pleased to report that the results from the first hole of the 2010 drilling program at the Eldor Project, located in northeastern Quebec, confirm the potential for a significant new REE discovery at the Ashram Rare Earth Zone.
The program's first hole, EC10-027 was collared in mineralization and had results as follows:
- 1.72% Total Rare Earth Oxides ("TREO") over 215.30 metres (3.74 to 219.04 m) Including 2.07% TREO over 29.48 m (105.59 to 135.07 m)
- Followed by 0.94% TREO over 21.81 m (219.04 to 240.85 m); in a lithologically distinct zone
- In increasing order, the four most abundant REE's reported are Praseodymium, Neodymium, Lanthanum and Cerium.
The hole was drilled at an azimuth of 230 degrees and dip of -50 degrees with BTW sized core. It tested surface mineralization to depth on the Ashram Peninsula, along the western flank of a magnetic low that defines the target area, which measures approximately 1 kilometre by 0.8 kilometres in size.
Complete analytical results along with a drill hole plan map will be posted on the Company's website at: http://www.commerceresources.com/s/Eldor.asp
All samples were analyzed by Activation Laboratories of Ancaster, Ontario using their method 8 - major oxide, rare earths and trace element package by Fusion ICP and ICP/MS.
Drilling to date does not yet allow for an accurate estimation of the dimensions of the Ashram REE-bearing zone at Eldor. For this reason, no estimation of true thickness from the drill holes has been made.
Starting directly at surface, three contiguous mineralized horizons with gradational contacts were encountered, termed the A-Zone, B-Zone, and the BD-Zone respectively. The units appear to be moderate to steeply dipping, with a north-northwest strike, and are in general, lithologically distinct.
The A-Zone is a very fine-grained, light to dark olive grey ferro-carbonatite with abundant and pervasive purple fluorite and associated red-brown mineralization, with minor disseminated sulphides.
The B-Zone is a fine-grained, pale to light-greenish-yellow magnesio-carbonatite with common, patchy purple fluorite and pervasive, very-fine-grained yellow-beige mineralization with minor sulphides.
The BD-Zone is the most distinct unit. It is a coarser-grained, cream to light-grey magnesio-carbonatite, strongly brecciated, with common reddish orange parasite-bastnaesite mineralization. This zone is unique and has not been described on the property prior.
Two additional drill holes, EC10-028 and EC10-029, have been completed at the Ashram Zone as 50 metre and 70 metre step-outs, at -45 degrees dip, to the NW and SW respectively of EC10-027. Both collared in mineralization and intersected significant intervals of all three zones (A, B, and BD). Analytical results are pending.
The Ashram Rare Earth Zone remains open to the east, south, north, at depth and is not fully constrained to the west. Drilling is ongoing with a further 10 holes (2,500 metres) planned over the Ashram, Southeast and Star Trench Zones. To date, the 2010 drill program has successfully identified a REE deposit at surface in the Ashram Zone which extends to significant depths.
The distribution of particular REEs for each zone has only briefly been evaluated; however, a variable distribution of elements is evident. Higher neodymium oxide-lanthanum oxide ratios (Nd(2)O(3)-La(2)O(3)), specifically Nd(2)O(3) averaging 1.2 times greater than La(2)O(3) within the BD zone, suggest an independent distribution from the main ore body. Neodymium oxide constitutes nearly 22% of all rare earth oxides present in this zone and is one of the more sought after of the rare earths for use in super magnets and related applications.
The Eldor Property covers a carbonatite complex located within the central Labrador Trough located in northern Quebec; approximately 130 km south of the town of Kuujjuaq. The property is 100%-owned by Commerce and encompasses 404 claims totaling approximately 19,006 hectares.
Geologically, the Eldor Project represents one of the largest carbonatite complexes known worldwide. Carbonatite related deposits are a major host for rare metals, such as niobium and tantalum, and rare earth elements. The world's largest niobium mine, Araxa in Brazil, and several of the world's largest rare earth element deposits, including Lynas Corporation's Mt. Weld deposit in Australia, and Molycorp's Mountain Pass deposit in the United States, are all hosted by carbonatites. Geologically similar exploration projects include Hudson Resources Inc.'s Sarfartoq Carbonatite Project in Greenland and Rare Element Resources Ltd.'s Bear Lodge Carbonatite Project in Wyoming.
Sufficient working capital is available to complete all of the Company's development and exploration plans. As at April 30th, 2010, the Company had $19.8 million in cash and investments.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare metal deposits with a potential for economic grades and large tonnages. The Company is specifically focused on the development of its Upper Fir Tantalum and Niobium Deposit in British Columbia and is also exploring its Eldor Project in northern Quebec and the Carbo Project in northern British Columbia.
On Behalf of the Board of Directors COMMERCE RESOURCES CORP. David Hodge President and Director Tel: 604 484 2700 TF: 866.484.2700 Email: info(at)commerceresources.com Web: http://www.commerceresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that there is potential for a significant new REE discovery at the Ashram Rare Earth Zone; that analytical results are pending from two additional drill holes completed at the Ashram Zone; and that drilling is ongoing with a further 10 holes (2500 metres) planned over the Ashram, Southeast and Star Trench Zones.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.
Readers should refer to the risk disclosures outlined in the Company's Management Discussion & Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
please visit the corporate website at http://www.commerceresources.com or contact Investor Relations at 1.866.484.2700 or info@commerceresources.com
Commerce Resources Corp. Commences Drilling at Eldor Rare Metal Project, Quebec
Press Release Source: Commerce Resources Corp. On Tuesday August 10, 2010, 8:45 am EDT
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-1623742627.html?x=0&.v=1
VANCOUVER, Aug. 10 /CNW/ - Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the "Company" or "Commerce") is pleased to announce that drilling is underway on the Company's Eldor Tantalum-Niobium and Rare Earth Element Project located in northern Quebec. Up to 15 holes totaling 3,000 metres will be completed. The exploration program will also include prospecting, mapping, soil sampling, a ground magnetic survey, and trenching.
The focus of the program will be to test the newly discovered and previously untested Ashram Rare Earth Element ("REE") Zone. The Ashram Zone was discovered in July of 2009 by tracing a glacially dispersed REE mineralized boulder train, and has the potential to host a REE deposit of considerable size. The zone is located near the centre of the Eldor Property, and is coincident with a magnetic low approximately 1 kilometre by 0.8 kilometres in size. The goal for drilling is to identify a carbonatite-hosted REE deposit.
Geologically similar projects include: Hudson Resources Inc.'s Sarfartoq Carbonatite Project in Greenland and Rare Element Resources Ltd.'s Bear Lodge Carbonatite Project in Wyoming.
Drilling will also be completed at the Star Trench and Southeast Areas as a follow-up to significant tantalum and niobium intersections from the 2008 drill program.
The Eldor Property covers a carbonatite complex located within the central Labrador Trough, located in northern Quebec; approximately 130 km south of the town of Kuujjuaq. The property is 100% owned by Commerce and encompasses 404 claims totaling approximately 19,006 hectares.
The Eldor Property hosts several mineralized zones including the Ashram Rare Earth Zone and the Northwest, Southeast and Star Trench zones, where previous drilling identified significant concentrations of tantalum, niobium, uranium, phosphate and fluorine. Geologically, the Eldor Project is a large carbonatite complex. Carbonatites and carbonatite related deposits are a major host for rare metals, such as niobium and tantalum, and rare earth elements. The world's largest niobium mine, Araxa in Brazil, and several of the world's largest rare earth element deposits, including Lynas Corporation's Mt. Weld deposit in Australia, and Molycorp's Mountain Pass deposit in the United States, are all hosted by carbonatites.
Sufficient working capital is available to complete all of the Company's development and exploration plans. As at April 30th, 2010, the Company had $19.8 million in cash and investments.
NI 43-101 Disclosure
Darren Smith, P.Geol., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare metal deposits with a potential for economic grades and large tonnages. The Company is specifically focused on the development of its Upper Fir Tantalum and Niobium Deposit in British Columbia and is also exploring its Eldor Project in northern Quebec and the Carbo Project in northern British Columbia.
For more information please visit the corporate website at http://www.commerceresources.com or contact Investor Relations at 1.866.484.2700 or info(at)commerceresources.com.
On Behalf of the Board of Directors COMMERCE RESOURCES CORP.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that up to 15 holes totaling 3,000 metres will be drilled on the Eldor Property; that the exploration program will also include prospecting, mapping, soil sampling, a ground magnetic survey, and trenching; that the focus of the exploration program will be to test the newly discovered and previously untested Ashram REE Zone which has the potential to host a REE deposit of considerable size; that the goal for drilling is to identify a carbonatite-hosted REE deposit; and that drilling will also be completed at the Star Trench and Southeast Areas.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.
Readers should refer to the risk disclosures outlined in the Company's Management Discussion & Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
David Hodge, President and Director, Tel: 604 484 2700, TF: 866.484.2700, Email: info@commerceresources.com, Web: http://www.commerceresources.com
Jack Lifton: North America Doesn't Need China's Rare Earths
Source: Sally Lowder of The Gold Report 06/21/2010
http://www.theaureport.com/pub/na/6584
Financial regulation bill hits Congo mineral trade
Thu Jul 15, 2010 3:57pm EDT
http://www.reuters.com/article/idAFN1545972220100715?rpc=44
Commerce Resources Corp. Updates Exploration at Carbo Rare Earth Project, Wicheeda Lake, BC
Press Release Source: Commerce Resources Corp. On Thursday July 8, 2010, 3:18 pm EDT
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-443433694.html?x=0&.v=1
VANCOUVER, July 8 /CNW/ - Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the "Company") is pleased to report that its joint venture partner Canadian International Minerals Inc. (CNSX: CIN) has announced an update on exploration activities at the Carbo Project, northeastern British Columbia. Canadian International has an option to earn up to a 75% interest in the Carbo Project by paying the Company $30,000 cash, issuing 1,500,000 common shares, and incurring a total of $198,000 in exploration expenditures, over a three year period.
Canadian International has engaged Aeroquest Limited to fly a close spaced AeroTEM III-Radiometric-Mag survey over the Carbo property. Field crews currently are continuing the geological mapping and soil sampling program that began in 2009. A permit application for a minimum 1,000 meter diamond drill program has been submitted to B.C. Ministry of Energy, Mines and Petroleum Resources.
The Carbo Project is located in the emerging Wicheeda rare earth carbonatite camp approximately 80 km northeast of Prince George and consists of seven claims totalling an area of 2,778.63 hectares. The Wicheeda camp is located within the Rocky Mountain trench, a major continental geologic feature which includes numerous rare earth and rare metal deposits being explored and developed. Much of this terrain has seen very little exploration incorporating current models and modern technology.
A technical paper presented at the Minerals South Conference and Trade Show in late 2009 by C. Graf, P. Eng., R. Lane, P. Geo., and M. Morrison B.Sc., outlined significant exploration results from Spectrum Mining Corporation's Wicheeda property in the camp. Select drill hole intersections cited in the paper included 48.64 meters of 3.55% combined rare earth elements (REE), 144 meters of 2.2% combined REEs and 72 meters of 2.92% REEs. All intersections were collared in mineralization and assays were given in total elemental REEs which understates actual REE oxide content. No separate analyses were reported for heavy rare earth elements (HREE).
Mineral analysis on 2009 drill core by Dr. Anthony Mariano, a recognized authority on REEs, indicated that the primary REEs are contained in coarse grained monazite and a bastnesite-synchistite-parasite mineral. Dr Mariano also conducted a bench scale heavy liquid and magnetic separation study on a composite sample of Wicheeda drill core and was able to produce a high grade REE concentrate that contained 56.09 wt. % REE.
The Company and Canadian International's Carbo claims directly adjoin Spectrum's property with the 2008/09 drilling being within 700 meters of the property boundary. A map showing the location of Spectrum's discovery and the Carbo claims is available for download at http://www.commerceresources.com/s/Carbo.asp
Previous work conducted on the Carbo claims has identified REE bearing carbonatite/syenite outcrops as well as significant cerium bearing soil anomalies and rock samples (Lane 2009, Groat 2009, Guo 2009, Betamis 1987, 1988). These geological units were confirmed in June of this year by Mackevoy Geoscience Inc. personnel under the supervision of Professor Lee Groat. Assays results from rock and soil sampling are pending.
NI 43-101 Disclosure
The technical information in this news release has been reviewed and approved by Jody Dahrouge, P.Geol, VP Exploration and Director of the Company, who is a Qualified Person in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare metal deposits with a potential for economic grades and large tonnages. The Company is specifically focused on the development of its Upper Fir Tantalum and Niobium Deposit in British Columbia and is also exploring its Eldor Project in northern Quebec and the Carbo Project in northern British Columbia.
On Behalf of the Board of Directors COMMERCE RESOURCES CORP. David Hodge President and Director Tel: 604 484 2700 TF: 866.484.2700 Email: info(at)commerceresources.com Web: http://www.commerceresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that Canadian International has engaged Aeroquest Limited to fly a close spaced AeroTEM III-Radiometric-Mag survey over the Carbo property, that field crews were continuing a geological mapping and soil sampling program that began in 2009, and that a permit application for a minimum 1000 meter diamond drill program was submitted to B.C. Ministry of Energy, Mines and Petroleum Resources.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.
Readers should refer to the risk disclosures outlined in the Company's Management Discussion & Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
please visit the corporate website at http://www.commerceresources.com or contact Investor Relations at 1.866.484.2700 or info@commerceresources.com
Commerce Resources Corp. Updates Exploration and Development Activities at Upper Fir Tantalum and Niobium Deposit, Blue River, BC
Press Release Source: Commerce Resources Corp. On Wednesday June 30, 2010, 9:44 am EDT
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-3230256789.html?x=0&.v=1
VANCOUVER, June 30 /CNW/ -
Highlights:
- A Preliminary Economic Assessment (PEA) ("Scoping Study") for the Upper Fir Tantalum-Niobium Deposit, under the supervision of AMEC, Vancouver is underway. The completed study is expected to be delivered to the Company in the fourth quarter of 2010;
- 2010 fieldwork has begun; a 10,000 meter (30-40 hole) definition drilling program is planned to determine geological relationships and upgrade the classification of resources; and
- Results from the 2009 drill program (22 holes; 5,587 meters) are anticipated to be received shortly and are expected to be included in the block model which forms the basis of the ongoing PEA.
Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the "Company") is pleased to provide an update on the planned and ongoing exploration and development activities for the Company's wholly owned Blue River Project, east-central British Columbia. The Blue River Property is host to the Upper Fir Tantalum and Niobium Deposit, which was discovered in 2002 and which has been the focus of the Company since 2005.
During 2010, the Company plans to complete approximately 10,000 meters (30 to 40 holes) of HQ diamond drilling, largely as infill within the Upper Fir Deposit. The purpose of the infill drilling is to determine geological relationships and upgrade the classification of resources previously announced on March 31, 2010 as recommended by Dr. Michelle Stone of Caracle Creek International Consulting (CCIC) and in anticipation of pre-feasibility requirements.
In parallel with the exploration work, a Preliminary Economic Assessment (PEA) of the Upper Fir Deposit, under the supervision of AMEC, Vancouver, is underway. The assessment will incorporate all data developed from the project to date, and include, detailed solids modeling and preliminary metallurgical and process flow sheet designs. It is expected that AMEC will deliver the completed study to the Company in the fourth quarter of 2010.
Klohn Crippen Berger Ltd., Vancouver, completed a review of potential waste rock and tailings sites in 2009, with additional assessment continuing by AMEC. Environmental data collection first initiated in 2006 is ongoing. This will ensure that the Company develops a solid baseline of environmental data in support of project development.
In 2009, Commerce completed 22 infill and step-out exploration holes (totaling 5,587 meters) at the Upper Fir Deposit, adding to the previous 153 holes completed between 2005 and 2008 (totaling 30,648 meters). The most recent resource estimate announced March 31, 2010, did not include results from the 2009 drill program. The 2009 drill results will be included in an updated geologic model as part of the ongoing PEA.
The Blue River Project is wholly owned by Commerce and encompasses approximately 1,000 km2 of mineral claims located 25 to 60 km north and northeast of Blue River, British Columbia. Infrastructure surrounding the project is excellent with BC Highway 5 crossing the claims along with rail, power, and a water supply.
The Upper Fir Deposit is one of several carbonatite occurrences on the Project and at a 175 grams per tonne ("g/t") Ta2O5 cut-off contains an Indicated Resource of 7,384,000 tonnes with a grade of 217 g/t Ta2O5 and 1,202 g/t Nb2O5 (3,533,000 and 19,568,000 lbs of contained Ta2O5 and Nb2O5, respectively). Inferred Resources at the same cut-off include 16,494,000t of 213 g/t Ta2O5 and 1,222 g/t Nb2O5 (7,746,000 and 44,436,000 lbs of contained Ta2O5 and Nb2O5, respectively (Stone & Selway, 2010).
Sufficient working capital is available to complete all of the Company's development and exploration plans. As at April 30th, 2010, the Company had $19.8 million in cash and investments.
NI 43-101 Disclosure
The technical information in this news release has been reviewed and approved by Jody Dahrouge, P.Geol, VP Exploration and Director of the Company, who is a Qualified Person in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About AMEC
AMEC is a leading global engineering and project management consultancy providing high value consulting services to the world's largest natural resources, clean energy, water and environmental sectors. Operating at an international level, AMEC provides exceptional support and insight to help build prospects into projects from the early stages of exploration through final feasibility. Their careful, systematic approach to feasibility studies, assessments and due diligence reviews provides solid support from project development through to mine operations. Additional information about AMEC can be obtained on their website: www.amec.com.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare metal deposits with a potential for economic grades and large tonnages. The Company is specifically focused on the development of its Upper Fir Tantalum and Niobium Deposit in British Columbia and is also exploring its Eldor Project in northern Quebec and the Carbo Project in northern British Columbia.
On Behalf of the Board of Directors COMMERCE RESOURCES CORP. "David Hodge" ----------------------- David Hodge President and Director Tel: 604 484 2700 TF: 866.484.2700 Email: info(at)commerceresources.com Web: http://www.commerceresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that the Company plans to complete approximately 10,000 meters of HQ diamond drilling, largely as infill within the Upper Fir Deposit during 2010, that a Preliminary Economic Assessment of the Upper Fir Deposit under the supervision of AMEC Vancouver is underway, that it is expected that AMEC will deliver the completed study to the Company in the fourth quarter of 2010, that AMEC is conducting additional assessment of potential waste rock and tailings sites and that environmental data collection is ongoing.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.
Readers should refer to the risk disclosures outlined in the Company's Management Discussion & Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
please visit the corporate website at http://www.commerceresources.com or contact Investor Relations at 1.866.484.2700 or info@commerceresources.com
China's 'Rare Earth' Monopoly
by Robert Maginnis
04/20/2010
http://www.humanevents.com/article.php?id=36592
21st Century Energy? Dig, Baby, Dig!
By Daniel McGroarty
April 22, 2010
http://www.realclearworld.com/articles/2010/04/22/dig_baby_dig_rare_earths_98927.html
Commerce Resources Corp. Resource Estimate for Upper Fir Tantalum and Niobium Deposit, Blue River BC
Press Release Source: Commerce Resources Corp. On Wednesday March 31, 2010, 6:30 pm EDT
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-3928216981.html?x=0&.v=1
Commerce Resources Corp. Update of Resource Estimate for Upper Fir, Fir and Verity Tantalum and Niobium Deposits, Blue River BC
Press Release Source: Commerce Resources Corp. On Friday February 26, 2010, 1:45 pm EST
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-1580473602.html?x=0&.v=1
As a result of a review by the British Columbia Securities Commission, we are issuing the following news release to update and clarify our disclosure.
VANCOUVER, Feb. 26 /CNW/ - Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the "Company") wishes to provide an update to its news releases of November 24, 2009 and January 18, 2010 regarding the updated independent resource estimate for the Company's Upper Fir Deposit, Blue River Project, British Columbia.
The filing of the "Independent Technical Report, Upper Fir Property, Blue River, British Columbia, Canada" by Michelle Stone, Ph.D., P. Geo, and Julie Selway, PhD., P.Geo., independent Qualified Persons as defined by NI 43-101, of Caracle Creek International Consulting Inc. ("CCIC") has been delayed as it is being updated to include a resource estimate for each of the Fir and Verity deposits.
The Company's Blue River Tantalum/Niobium Project hosts three mineral deposits known as the Upper Fir, the Fir and the Verity. The Upper Fir is located approximately 30 km north of Blue River, British Columbia, the Fir is located 1,200 m west of the Upper Fir deposit and the Verity is located approximately 10 km north of the Upper Fir. The total size of the Blue River Project is in excess of 1,000 square km. The Company's primary focus is on the Upper Fir Deposit.
The resource disclosure in the technical reports previously provided by the Company for the Fir and the Verity Deposits in the "Geological Summary and Resource Potential of the Fir Carbonatite Property, Blue River, British Columbia", prepared by Ruben S. Verzosa, P.Eng. dated March 6, 2003 (amended November 30, 2004) and the "Technical Report on the Upper Fir Tantalum-Niobium-Bearing Carbonatite" prepared by John Gorham, P.Geol. dated June 20, 2007 are not compliant with National Instrument 43-101 and the previous resource estimates for Fir and Verity should not be relied upon.
The Company expects to announce independent resource estimates for the Upper Fir, Fir and Verity deposits as soon as CCIC completes its update of the Fir and Verity resource estimates.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare metal deposits with a potential for economic grades and large tonnages. The Company is specifically focused on the development of its Upper Fir tantalum and niobium deposit in British Columbia, Canada and is also exploring its Eldor Project in northern Quebec.
On Behalf of the Board of Directors COMMERCE RESOURCES CORP. "David Hodge" ------------- David Hodge President and Director Tel: 604.484.2700
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that the Technical Report will be filed once the resource estimates on the Upper Fir, the Fir and the Verity deposits have been prepared and once the BC Securities Commission review is completed.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.
Readers should refer to the risk disclosures outlined in the Company's Management Discussion & Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
Investor Relations: Tel: (604) 484-2700, TF: (866) 484-2700, Email: info@commerceresources.com, Web: http://www.commerceresources.com
West dependent on China for key resources
Published: 22 January 2010 14:30 | Changed: 22 January 2010 14:31
http://www.nrc.nl/international/article2465570.ece/West_dependent_on_China_for_key_resources
China controls the world’s supply of rare earth metals. It might not be willing to share much longer.
By Piet Depuydt
An iron ore mine is western Australia.
Photo AP
A plaque hangs in the lobby of Baogang Group’s headquarters. “The Middle East has oil, China has rare metals.” The words are attributed to former Chinese leader Deng Xiaoping and have the force of an oracle for many Chinese.
China holds 95 percent of the globe’s ‘rare earth elements’, which are almost as essential to Western industry as oil. The export centre for these metals is Baotou in Inner Mongolia, where the Baogang group has its headquarters. Here, this state company produces nearly half of the world’s supply of neodymium. This metal is practically unknown, but it has fundamentally changed the appearance of consumer electronics.
“Without the powerful magnets developed using neodymium, makers of mobile phones and mp3 players would not have been able to carry out extensive miniaturisation,” says André Diederen of the Dutch research institute TNO.
At least 500 grams of neodymium is needed in every hybrid car to make the magnets in the engine work. The deep blue material is also an essential element for the latest generation of powerful wind turbines. A 16 metre high turbine produces an average of five megawatts of energy; about 200 kilograms of the metal is needed for every megawatt.
Technology cannot do without rare metals
Experts estimate that global demand for neodymium will rise by a factor of 3.8 by 2030. Demand for other elements in the rich earth of Baotou – cerium, praseodymium en lanthanum – has increased exponentially in recent years. They are not only used for numerous Western devices, such as energy efficient light bulbs or smart air-emissions detection systems, but are of strategic importance for Chinese industry itself. At least 60 percent of the rare earth metals extracted in Baotou are intended for Chinese use.
This creates concern in the market. “The Chinese government wants to do everything to secure the flow of these metals for their own industry,” says Michel Rademaker of the The Hague Centre for Strategic Studies. “They have imposed export quotas which get stricter every year.”
Last summer, an internal memo from the Beijing government was leaked which proposed that exports of rare earth metals should be limited in the following six years to 35.000 tons per year, far below expected demand. There report stirred commotion among industrial experts in Europe, Japan and the US. “It rubbed our noses in the facts,” says Derk Bol of the Materials Innovation Institute (M2i) in Delft. “Scarcity of materials suddenly became a real threat.”
If China really implements this measure, shortages of certain metals, such as terbium and dysprosium, are expected this year. One of these metals is used in the production of energy saving light bulbs, the other in lasers.
Global use has quadrupled
But even if this measure is not implemented, shortages are unavoidable. Global use of rare earth metals has more than quadrupled in the last years to 125,000 tons per year. Analysts expect demand to reach 200,000 tons in 2014, and, by that time, China will need all it produces for its own use.
“Chinese exports of rare earth metals will be reduced to zero over time,” says Christian Hocquard, economist and raw materials expert at the French geological service BRGM. This is a doom scenario for Western industrial experts. Numerous high-tech industries in Europe, Asia and the US will be without essential raw materials.
According to Hocquard there are only two ways to avoid this. “We relocate our factories to China, or open new mines for rare earth metals outside China.”
Western mines re-open for business
China actually has only 53 percent of world supplies within its borders. In the West, overproduction and low prices in the 1990s caused most mines to close. The recent increase in demand has overturned that situation. A kilo of neodymium goes for 22 dollars now, five times as much as in 2002. Dysprosium’s value is ten times what it was in 2002.
But it will cost a lot to reopen the old mines. A whole new industry has to be built. Mountain Pass in the US was reopened in 2007, but will only reach full production sometime this year. In Australia, the Mount Weld mine is expected to produce rare earth metals on a large scale from this year. But last year the company that owns it sold 51.6 percent of its shares to a Chinese company in exchange for cash and debt financing. The search for rare earth metals is a global race.
Europe has no role to play. It has no major deposits of rare earth minerals in the ground and must depend on the rest of the world for supplies. If China stops the supply, the EU will have acute shortages. Beijing’s party leaders deny that they intend to do that. China doesn’t want to hold the European industry hostage, officials stress. Around Hexi Industrial Zone, Baogang Group’s technology park, an active campaign is underway to lure European companies to open factories there in exchange for access to rare earth metals. Baotou hopes to expand into a giant industrial site where the raw metals are refined and converted into finished products. It wants to be the global Mecca of rare earth metals, and the West is welcome to take part in this.
Commerce Resources Corp. Expands Rare Earth Element Mineralization at Eldor
Press Release Source: Commerce Resources Corp. On Monday December 21, 2009, 10:23 am EST
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-89066202.html?x=0&.v=3
VANCOUVER, Dec. 21 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company" or "Commerce") is pleased to report that sampling has identified additional rare earth element mineralization (REE) within the newly discovered Ashram Zone at the Eldor Project, northern Quebec.
The Ashram Zone was discovered in 2009 by tracing the source of a glacially dispersed boulder train that assayed significant REE. The zone is located near the centre of the Eldor Carbonatite complex, and is coincident with a magnetic low approximately 1 kilometre by 0.8 kilometres in size.
A total of 70 rock samples were collected as follow-up to the discovery made during the 2009 summer exploration program. A high value of 2.74% REE was returned from exposed outcrop, with values in excess of 1% REE representing over 55% of the total rock samples collected (boulders and outcrop).
Significant mineralization ((greater than)1% to 2.74% REE) was consistently returned from numerous samples over multiple outcrops within an area measuring approximately 500 metres by 150 metres, truncated to the east by a shallow lake. Sample lithology is consistently moderately radioactive, very fine grained to massive, grey-green carbonatite, with variable amounts of fluorite and disseminated pyrite.
REE distribution is dominantly light rare earth enriched (Ce, La, Nd and Pr), however, several samples show a flatter distribution indicative of a relative enrichment in the heavy REE. Preliminary thin section work by Roger Mitchell of Almaz Petrology has identified several REE bearing minerals as common sources of REE mineralization. These include the REE fluorocarbonates bastnaesite (Ce,La,...)CO(3)F, synchysite Ca(Ce,La,...)(CO(3))(2)F and parasite Ca(Ce,La,...)(2)(CO(3))F(2) as well as the minerals aeschynite (Nd,Ce,Y,Ca)(Ti,Nb)(2)(O,OH)6 and monazite (Ce,La,..)PO4.
During the fall program, sampling was also conducted at a tantalum-niobium target, the "Glimmerite Occurrence," originally identified in 2007, located 1.5 kilometres north of the Ashram Zone. Significant tantalum-niobium mineralization was confirmed with a sample assaying 1682 ppm tantalum and exceeding the detection limit for niobium (greater than 50,000 ppm (5%) Nb). Further work is required to fully assess the zone's significance and extent.
A map showing the location of the Ashram Zone and the Glimmerite Occurrence along with rock sample results is available for download at: http://www.commerceresources.com/s/Eldor.asp
Given the success of the reconnaissance work at Eldor, Commerce intends to significantly expand the scope of exploration in 2010. It is anticipated that next years' program will include prospecting, mapping, and drilling at the Ashram Rare Earth Zone as well as further exploration at the tantalum-niobium targets developed during the 2008 drilling program. In addition, the 2007 airborne radiometric and magnetic survey is currently being re-interpreted, by Rob Shives of GamX Inc., to examine the significance of the magnetic low that marks the Ashram Zone as well as other priority targets.
The Eldor Property is located in northern Quebec, approximately 130 km south of the town of Kuujjuaq. The property is 100% owned by Commerce and now encompasses 404 claims comprising approximately 18,886 hectares. Additional ground was recently acquired, adjacent to the south and east of the property, to cover anomalies identified from prospecting and soil sampling.
The Eldor property hosts several mineralized zones including the Ashram Rare Earth Zone as well as the Northwest, Southeast and Star Trench zones where previous drilling has identified significant concentrations of tantalum and niobium as well as appreciable amount of uranium, phosphate and fluorine. Geologically, the Eldor Project is a large carbonatite complex. Carbonatites and carbonatite related deposits are a major host for rare metals, such as niobium and tantalum, and rare earth elements. The world's largest niobium mine, Araxa in Brazil, and several of the world's largest rare earth element deposits, including Mt. Weld in Australia, and Mountain Pass in the United States, are all hosted by carbonatites.
Alex Knox, P.Geo., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare metal deposits with a potential for economic grades and large tonnages. The Company is specifically focused on the development of its Upper Fir tantalum and niobium deposit in British Columbia and is also exploring its Eldor Project in northern Quebec and the Carbo Project in northern British Columbia.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"David Hodge"
------------------------
David Hodge
President and Director
Tel: 604.484.2700
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that an expanded exploration program is planned for 2010, that next years' program will include prospecting, mapping, and drilling at the Ashram Rare Earth Zone as well as further exploration at the tantalum-niobium targets developed during the 2008 drilling program, and that the 2007 airborne radiometric and magnetic survey is being re-interpreted to examine the significance of the magnetic low that marks the Ashram Zone as well as other priority targets.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.
Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
contact Investor Relations: Tel: (604) 484-2700, TF: 1-866-484-2700, Email: info@commerceresources.com, Web: http://www.commerceresources.com
Well, CCE has done a lot more drilling and has cash in the bank right? Plus, they are on the TSX.
The uplisting helps a lot.
I don't bother comparing CCE and SRSR, since I own both. Whatever happens, happens. I took some profits on CCE a while back and bought SRSR. I will toggle between these two stocks, always maintaining a balance in both, but taking profits when I can.
In the old days, I didn't take profits. This is a new strategy.
I haven't spoken to CCE in months.
sumi
Sumisu,
How do you compare CCE to SRSR? I unerstand that CCE has 12 mill in the bank and is listed on the TSX, however SRSR appears to have the larger desposits of REE's.
Thanks,
D
Commerce Resources raises Upper Fir estimate
Mon Nov 30, 2009 1:13pm EST
http://www.reuters.com/article/marketsNews/idAFN3047217520091130?rpc=44
NEW YORK, Nov 30 (Reuters) - Commerce Resources Corp (CCE.V), a Canadian exploration and development company, released an updated independent resource estimate for its Upper Fir tantalum-niobium deposit at the Blue River Project in British Columbia.
With the new resource estimate, total tonnage (indicated plus inferred) of host rock containing tantalum and niobium has increased by 44 percent at the 100 grams per tonne (g/t) cutoff, 9 percent at the 150 g/t cutoff, and 37 percent at the higher grade 200 g/t cutoff.
The increase in the higher grade areas will be a key contributor to the ultimate economics of the deposit.
"Our updated resource estimate demonstrates that the Upper Fir deposit is a large, well defined tantalum and niobium deposit with the tonnage to provide long term stable supply for the tantalum and electronics industry," said Dave Hodge, President of Commerce Resources.
"It provides us with a solid foundation to move the deposit into development."
For a link to the story on the company's website, click: here
The updated resource calculation represents an increase of 8 million lbs of tantalum at the site.
Tantalum is a corrosion resistant metal, which has the ability to store and release an electrical charge. It is critical for the production of microelectronic capacitors that are necessary for the production of cell phones, laptops, digital cameras, airbags, and other electronic devices.
Niobium is a rare, soft, grey, ductile transition metal, used mainly in the production of high-grade structural steel. (Reporting by Chris Kelly; Editing by Marguerita Choy) ((chris.kelly@thomsonreuters.com; +1 646 223 6042; Reuters Messaging: chris.kelly.reuters.com@reuters.net))
Commerce Resources Reports on Exploration at Carbo Property Adjacent to Wicheeda Rare Earth Discovery, British Columbia
Press Release
Source: Commerce Resources Corp.
On 1:34 pm EST, Friday November 27, 2009
http://finance.yahoo.com/news/Commerce-Resources-Reports-on-cnw-3283649228.html?x=0&.v=1
VANCOUVER, Nov. 27 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company" or "Commerce") and Canadian International Minerals Inc. (CNSX: CIN) ("Canadian International") are pleased to announce results from summer exploration at the Carbo Property located 80 kilometers northeast of Prince George, British Columbia and contiguous with Spectrum Mining Corporation's recently reported Wicheeda rare earth element discovery.
The 2009 exploration program included rock, silt, and soil sampling as well as geological mapping and prospecting. It was designed to follow-up on previous exploration by Commerce as well as historic work by Teck Corporation. The Carbo Property contains rare earth element and niobium-bearing carbonatite and alkaline intrusions.
In late October, Spectrum Mining Corporation, a private company reported significant rare earth element mineralization on claims contiguous to the Carbo Property. Highlights included a 48.64 metre ("m") interval which averaged 3.55% REE, a 72 m interval that averaged 2.92% REE, and a 144 m interval that averaged 2.20% REE in three separate drill holes. To view a map of the location of Spectrum's discovery and the Carbo claims, visit: http://www.commerceresources.com/s/Carbo.asp
The 2009 exploration program at the Carbo Property resulted in the identification of a new soil anomaly greater than 1 kilometre by 500 m in the southwest portion of the claim blocks. The highlight of the program was a soil sample (09mgb0002) within the new anomaly that exceeded the detection limit of 10,000 ppm (greater than 1%) cerium (Ce), indicative of light rare earth content, and 309 ppm gadolinium (Gd), indicating the presence of heavy rare earths.
Commerce and Canadian International are encouraged by the results being released from the area and are planning an expanded program that will include trenching and drilling in 2010. Future exploration will aim to identify extensions of the Wicheeda discovery on the Carbo claims, follow-up on the new soil anomaly and further test some of the historic trenches on the property.
The 2009 exploration program at the Carbo Property was funded by Canadian International. Canadian International has the option to earn a 75% joint venture interest in the Carbo claims by paying the Company, over a three year period, $30,000 cash, a total of 1,500,000 common shares, and incurring a total of $198,000 in exploration expenditures. Canadian International has completed its required first year payments. Commerce will retain a 25% interest and 2% NSR Royalty on the Carbo claims.
Jody Dahrouge, P.Geo. and Vice-President of Exploration, a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare metal deposits with a potential for economic grades and large tonnages. The Company is specifically focused on the development of its Upper Fir tantalum and niobium deposit in British Columbia and is also exploring its Eldor Project in northern Quebec and its Carbo Project in northern British Columbia with its joint-venture partner Canadian International Minerals Inc.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"David Hodge"
-------------
David Hodge
President and Director
Tel: 604.484.2700
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include the planning an expanded exploration program in 2010; aiming to identify extensions of the Wicheeda discovery on the Carbo claims; following up on the new soil anomaly; further testing of some of the historic trenches on the Carbo Property; that Canadian International has an option to earn a 75% interest in the Carbo claims by paying the Company $30,000, issuing the Company a total of 1,500,000 common shares, and incurring a total of $198,000 in exploration expenditures, all over a three year period.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.
Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
contact Investor Relations: Tel: (604) 484-2700, TF: (866) 484-2700, Email: info@commerceresources.com, Web: http://www.commerceresources.com
Commerce Resources Corp. Reports Updated Resource Estimate for Upper Fir Tantalum and Niobium Deposit, Blue River BC
Press Release
Source: Commerce Resources Corp.
On 8:30 am EST, Tuesday November 24, 2009
VANCOUVER, Nov. 24 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company") is pleased to report the results of an updated independent resource estimate for its Upper Fir deposit at the Blue River Project, British Columbia.
Caracle Creek International Consulting Inc. ("CCIC") of Toronto, Ontario used all data available from exploration drilling programs carried out on the Upper Fir from 2005 through the end of 2008 to complete three dimensional ("3D") geological modeling and provide a resource estimation. Data was drawn from a total of 153 drill holes totaling 30,648 metres ("m"), which cut the Upper Fir carbonatite.
A summary of the Upper Fir resource estimate based on data to the end of 2008 follows:
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-235852679.html?x=0&.v=1
Market cornered for rare minerals
Monday, November 16, 2009
http://www.thestandard.com.hk/news_detail.asp?we_cat=3&art_id=90569&sid=26103708&con_type=1&d_str=20091116&fc=10
As resource-hungry China scours the world for crude oil and natural gas supplies, it has managed to corner the global market for a group of obscure metals used to make iPods, wind farms and electric cars.
The mainland supplies at least 95 percent of the world's rare earths - 17 chemical elements with names such as praseodymium and yttrium - essential for a wide range of high-tech devices and green technologies.
China, which has long recognized the value of these metals, is tightly controlling the supply of these vital natural resources.
"China's goal is to create jobs in China and create goods in China," said Jack Lifton, a US- based independent rare earths analyst.
"We need to start producing these metals [in the United States] as we did in the past. If we don't do that, China will be the only country manufacturing devices using rare earths by the year 2015."
A single mine in the country's north produces half of the world's rare earths, with the rest coming from smaller mines in southern China as well as Russia, India and Brazil. China keeps most of the minerals within its borders by restricting foreign shipments.
Authorities have been increasingly restricting exports in recent years to prop up prices, ensure supply for its own needs and create jobs for millions of migrant workers by luring foreign companies to its shores.
Alarm bells started ringing this year amid reports that the State Council was considering further tightening restrictions and even banning the export of certain elements as well as closing mines.
Foreign companies and governments fear the new rules, if implemented, will deny them access to the metals used to make everything from hybrid vehicles to missiles, and force manufacturers to shift their plants to China.
Deposits being developed elsewhere will make available about 50,000 tonnes of rare earths by 2014. But total demand is expected to double to around 180,000 tonnes within five years. AGENCE FRANCE-PRESSE
David Hodge, President of Commerce Resources Corp. Featured on BNN
Thursday, October 29, 2009 8:33 PM
http://watch.bnn.ca/#clip228666
CMRZF in the USA
1/ link back to ThirdEyeOpenTrades chart
2/ See RedStick's nice annotated Chart CCE.V: posted today - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=42871510
KIWI
Tantalum industry in dire need of new resources
Wed Oct 21, 2009 3:30pm EDT
By Chris Kelly
http://www.reuters.com/article/marketsNews/idAFN2154079620091021?rpc=44
WASHINGTON, Oct 21 (Reuters) - A severe supply crunch has hit the tantalum industry, and stockpiles of the metal used primarily in consumer electronic products could run dry in as little as three years, an industry analyst said on Tuesday.
"The industry at the moment is living on stocks. Late last year it was estimated that there was enough tantalum in the supply chain to last for two years. That was last year ... that will run out by 2012," said Patrick Stratton BA, senior analyst with Roskill Information Services Ltd. during a panel discussion titled, The 'Alternative Energy' Metals at the Managing Supply Chain Risks for Critical & Strategic Metals conference in Washington, D.C.
Stratton said the industry's problems were largely brought on by an unprecedented spike in the spot market price in 2000 after similar supply fears caused many nervous dealers to lock themselves into long-term contracts at very high market prices.
"They (tantalum capacitor manufacturers) paid for it dearly with inventory write-downs and future inventory write-downs," Stratton said. After a period of relative stability in the market, he said, everything "fell off of a cliff" in 2008, as the economic downturn put the brakes on consumer demand.
Many companies suspended production, including Australia's Talison Minerals, which provided about a third of the world's tantalum supply. Others included Noventa's Mozambique mine and Canada's Tanco mine.
Talison plans to reactivate its Wodgina mine in mid-2010. [ID:nSYD479828]
"We have a situation now where primary production of tantalum is limited to material coming out of Brazil, some production coming out of Africa, some Chinese material, and that is about it," Stratton said.
He saw only two real possibilities for new acceptable and ethical sources of tantalum, and they were both in Canada.
One was the Blue River Project in British Columbia, owned by Commerce Resources Corp (CCE.V), which was expected to be up and running in 2011.
Since 1990, tantalum's demand growth rate is about 5 percent per year. The price of tantalite, used to make tantalum metal, has been trading south of $40 a lb in the third quarter of 2009.
"A good question to ask is, 'what is the downstream industry more afraid of ... the price of tantalum or not being able to get hold of any tantalum?" Stratton asked.
"The second part of that is a very real possibility if something does not happen very soon." (Editing by David Gregorio)
Commerce Resources Corp. Updates Rare Earth Exploration at Eldor Project
Press Release
Source: Commerce Resources Corp.
On 10:20 am EDT, Thursday October 8, 2009
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-2141549277.html?x=0&.v=2
VANCOUVER, Oct. 8 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company" or "Commerce") is pleased to announce that it has completed the follow-up exploration program at the Eldor Property in Quebec targeting rare earth element mineralization at the newly discovered Ashram Zone.
A total of 70 rock samples (53 boulder, 17 outcrop) and 2 soil samples were collected during early to mid September. The samples have been sent to ACME Analytical Laboratories Ltd. in Vancouver, British Columbia for immediate analysis. Results will be released when received.
Exploration focused on further defining the Ashram Rare Earth Zone as well as testing peripheral rare earth targets. The majority of the samples (68) were collected on or adjacent to the Ashram Zone. Additionally, a secondary area of carbonatite outcrop, distinct from the main complex, was identified approximately three kilometers ("km") to the east of the Ashram Zone. The area was targeted for prospecting due to highly anomalous rare earth soil samples collected previously. Cursory prospecting was completed and two samples were collected from the area.
A map showing sampling locations is available for download at: http://www.commerceresources.com/s/Eldor.asp
The Eldor Property is situated in northern Quebec approximately 130 km south of the town of Kuujjuaq. The property is 100% owned by the Company and is composed of 366 claims comprising approximately 17,100 hectares. It includes the Ashram Rare Earth Zone as well as the Northwest, Southeast, and Star Trench Zones where previous drilling discovered significant concentrations of tantalum and niobium.
Carbonatites are very rare and unique rock types, with approximately 500 complexes known worldwide. Often containing a variety of exotic minerals, carbonatites have been known to produce economic concentrations of rare earth elements, niobium, copper, iron, apatite, vermiculite and fluorite; with significant associated commodities which may include barite, zircon, tantalum, gold, silver, uranium, nickel and platinum group elements. Several of the world's largest rare earth deposits and mines, including Bayan Obo in China and Mountain Pass in the United States are carbonatite hosted.
Darren Smith, P.Geol., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
Closing of Private Placement
The Company is also pleased to announce that it has raised gross proceeds of $7,205,700 in two private placement financings. These proceeds will be used to advance exploration and development at the Blue River Tantalum and Niobium Project, to conduct further exploration at the Eldor Property, and for general working capital.
The first private placement consisted of the issuance of a total of 16,676,750 units at a price of $0.40 per unit. Each unit consisted of one common share and one half of one share purchase warrant. Each whole share purchase warrant is exercisable into an additional common share of the Company at a price of $0.50 per share until September 15, 2010 and at a price of $0.54 from September 16, 2010 to September 15, 2011. All securities issued bear a four month hold period, expiring on January 15, 2010.
Of the units sold, 9,655,250 units were sold on a non-brokered basis. Pope & Company, an independent brokerage firm ("Pope"), brokered the remaining portion of the private placement and sold 7,021,500 units. For their assistance in the placement, Pope received $224,688 and 561,720 broker warrants, exercisable until September 15, 2011, at a price of $0.40 per broker warrant, into one common share and one half of one share purchase warrant. Each whole share purchase warrant issued upon exercise of the broker warrants will entitle the holder to purchase one additional common share of the Company, at a price of $0.50 per share until September 15, 2010 and at a price of $0.54 from September 16, 2010 to September 15, 2011. The Company paid additional finder's fees totaling $144,600 and 18,875 common shares.
The second private placement consisted of the issuance of a total of 1,337,500 units at a price of $0.40 per unit. Each unit consisted of one common share and one half of one share purchase warrant. Each whole share purchase warrant is exercisable into an additional common share of the Company at a price of $0.50 per share until October 2, 2010 and at a price of $0.54 from October 3, 2010 to October 2, 2011. All securities issued bear a four month hold period, expiring on February 2, 2010.
The Company paid finder's fees totaling $38,000 and issued 60,000 broker warrants to Allied Capital Corp. Each broker warrant is exercisable until October 2, 2011, at a price of $0.40 per broker warrant, into one common share and one half of one share purchase warrant. Each whole share purchase warrant issued upon exercise of the broker warrants will entitle the holder to purchase one additional common share of the Company, at a price of $0.50 per share until October 2, 2010 and at a price of $0.54 from October 3, 2010 to October 2, 2011.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"David Hodge"
---------------
David Hodge
President and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that the results from sampling will be released when received.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
David Hodge, President and Director, Tel: (604) 484-2700
For more information, contact Investor Relations: Tel: (604) 484-2700, TF: (866) 484-2700, Email: info@commerceresources.com, Web: http://www.commerceresources.com
Why All the Fuss over Rare Earths?
By Doug Hornig, Sr. Editor, Casey’s International Speculator
Cctober 2, 2009
http://www.financialsense.com/editorials/casey/2009/1002.html
Rare earth elements (REEs) have been the mystery metals of the mining world for years. Now, suddenly, everyone’s heard about them.
Before we delve into the reasons behind all the publicity, here’s the basic skinny on REEs: One, they are rare, at least sort of. Two, they are indispensable to modern technology. Three, the number of active, dedicated producers is tiny, with more than 90% of the world’s supply coming from China.
If you took high school chemistry, you probably remember the periodic table of the elements. But if you’re like most of us, even if you pulled a 95 on the chem final, you may not recall many of the details today. And there’s a better than even chance you never bothered to memorize the names of the REEs. It’s time to get reacquainted.
They’re generally clustered in a separate grouping at the bottom of the table, are known collectively as the lanthanoids, and these are their names, in order of atomic number (57-70): lanthanum, cerium, praseodymium, neodymium, promethium, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, and ytterbium. Yttrium (39) and lutetium (71) are also sometimes included.
Need to know, point 1: Rarity.
Fact is, we begin with something of a misnomer. These elements are not, strictly speaking, rare. Earth’s crust is full of them. True, they’re not as common as iron, carbon, or silicon, but are about on a par with nickel, copper, and zinc. Even the scarcest is way more abundant than gold, platinum, or palladium.
What is rare about them is that they’re widely dispersed. Very seldom are they found in economically exploitable deposits. Complicating matters further is that there are so many of them, and they clump together. They have to be separated first from the ore and then from each other.
Thus REE production comes primarily from other mines’ byproducts. The miner strips off the metal he’s really after, then sends the REE clusters to a specialty refiner.
Need to know, point 2: Applications.
It’s safe to say that life as we know it would be very different without the REEs. The more our technological accomplishments pile atop one another, the more crucial these metals become. Because of their unique properties, there are generally no substitutes for them.
Of all the REEs, the one people may have heard of is neodymium. Alloys containing it have revolutionized permanent magnet technology, allowing miniaturization of all sorts of electronic components in appliances, A/V equipment, computers, communication systems, and military gear. Your hard drive probably has neodymium in it. So does your DVD player.
Liquid crystal displays depend on europium. Fiber-optic cables can’t function without erbium. Virtually all specialty glass products, from mirrors to precision lenses, are polished with cerium oxide. Several REEs are essential constituents of both petroleum fluid cracking catalysts and auto emissions-control catalytic converters. Half a dozen REEs go into the manufacture of the energy-efficient fluorescent bulbs that will soon be mandatory. Lanthanum-nickel-hydride rechargeable batteries are replacing older ones based on lead or cadmium. And no REEs, no electric cars. Nor next-generation wind turbines.
That’s only a partial list. But what makes REEs an increasingly sensitive topic is their role in national defense. Here are a few small items that have become dependent on them: jet fighter engines, missile guidance systems, underwater mine detectors, range finders, space-based satellite power plants, and military communications systems.
Think the Pentagon is very, very interested in maintaining a steady REE supply?
Need to know, point 3: Supply.
95% of the world’s REE production originates in China. If you’re looking for reasons why we’re so nice to the premier Communist power left standing, this is a biggie.
We weren’t always so dependent. Not long ago, mines such as Mountain Pass in California made us nearly self-sufficient in REEs. But in the early ‘90s, China flooded the market with cheaper product, until it had driven all of its competitors out of business.
Today, Mountain Pass is being revived, but the start-up of an old mine is a lengthy and costly process. There are also some from-scratch REE development projects under way in the U.S., as well as Canada and Australia. But for the moment, China holds the hand with all of the high cards in it.
Forget your hard drive. Forget 11th-grade chemistry experiments. This is a national security issue. The American government cannot afford to lose that supply source, period. Maybe someday, but not now.
And that’s what’s behind the recent furor over these obscure elements. Because China threatened just that, a cutoff. The one thing that really gets Washington’s knickers in a twist.
In August, the story broke in the mainstream press. Sources in China leaked news of a draft copy of a report from the Ministry of Industry and Information Technology. It allegedly calls for a total export ban on five of the rare earths, with the rest restricted to a combined export quota of 35,000 metric tons a year, far below annual global consumption of 125,000 tons, and rising fast.
This doesn’t look like a move they’d follow through on, if only because of the lost trade revenues. And it’s only a recommendation; final approval rests with China’s State Council. But consider it an opening shot across our bow, if you wish. Or perhaps they’re telling us they need their REEs for the domestic economy, and we’d best go find our own supplies. Either way, the scramble is on to find alternatives.
That could backfire. REE prices and demand were already dropping last fall as the recession deepened, and China maintains a decided competitive advantage beyond control of supply: lax environmental standards (many REEs are highly toxic). Thus the new companies could spend the fortunes required to come on line, only to find themselves victims of yet another market glut engineered by the Chinese. Still, these metals are so important, it wouldn’t surprise us if the U.S. government subsidized domestic production, rather than risk a squeeze.
The Market
The market took due notice of the China story, driving the stocks of Western REE producers, and would-be producers, nearly straight up. Since late August, Avalon Rare Metals has gained 120%, Arafura Resources is up 75%, Rare Element Resources has added 72%, and Lynas Corp. is 50% higher (China, ever the master strategist, exploited the credit crisis to grab 25% of Arafura and more than 50% of Lynas). Lurking in the background is Molycorp, the private company redeveloping Mountain Pass. It’s planning an IPO that may well come out of the gate red hot.
With market action this frantic, the sector is on the frothy side at the moment. The heady market caps being awarded to these companies are obviously not based on fundamentals, and a savvy investor takes care not to get caught on the wrong side of a bubble.
Even though the Chinese export ban may never materialize, the ever-growing need for REEs is dead serious. And while the current bubble may pop any day, the long-term prospects for successful miners are outstanding.
The team at Casey’s International Speculator are experts in all things natural resources. In this month’s issue, Senior Editor Louis James writes about rare earth opportunities in Canada’s Northwest Territories. After some hands-on research, he’s putting a new company on his watch list that could become a real breakout winner in this sector. That hands-on and boots-on-the-ground research, by the way, is what Casey editors do on a regular basis – to ensure that the companies we recommend are really what they say they are. You can get this issue of Casey’s International Speculator and much more with your 3-month, risk-free trial subscription.
© 2009 Doug Hornig
Editor, Casey's Gold & Silver Resource Report, Casey Research
Editorial Archive
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Casey Research publishes The Casey Report, Casey’s Gold and Silver Resource, Casey’s International Speculator, Casey’s Energy Opportunities, Casey’s Energy Report, and Casey Trend Trader, Conversations with Casey, and Casey’s Daily Dispatch. Doug has helped tens of thousands of investors become a great deal wealthier. You can view all of Doug’s current best picks without risk or obligation. Learn more at http://www.caseyresearch.com
Commerce Resources Corp. Closes $535,000 Private Placement
Press Release
Source: Commerce Resources Corp.
On Tuesday September 29, 2009, 8:15 pm EDT
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-166297098.html?x=0&.v=1
VANCOUVER, Sept. 29 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company") is pleased to announce that it has increased the size of the financing announced September 21, 2009 and completed a private placement of a total of 1,337,500 units at a price of $0.40 per unit for gross proceeds of $535,000, subject to the final acceptance of the TSX Venture Exchange.
Each unit will consist of one common share and one half of one share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of the Company for two years, at a price of $0.50 per share in the first year and at a price of $0.54 per share in the second year. All securities issued will be subject to a four-month hold period. Finder's fees may be payable in accordance with the policies of the TSX Venture Exchange.
The proceeds of the private placement will be used to advance the Company's exploration and development program on its Blue River Tantalum and Niobium Project, British Columbia, to conduct exploration at the Eldor Property, Quebec, and for general working capital.
In addition, the Company announces that it has granted a total of 200,000 incentive stock options to a director. Subject to the acceptance of the TSX Venture Exchange, each stock option is exercisable into one common share of the Company at a price of $0.68 per share for a period of five years.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"David Hodge"
-------------
David Hodge
President and Director
Tel: 604.484.2700
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include receiving TSX acceptance of the private placement and the subsequent completion of the private placement of 1,337,500 units, and that the proceeds of the private placement will be used to advance the continued exploration and development of both the Blue River Project and the Eldor Project and for general working capital.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
David Hodge, President and Director, Tel: (604) 484-2700
Commerce Resources Corp. Closes $6.6 Million Private Placement
Press Release
Source: Commerce Resources Corp.
On Monday September 14, 2009, 1:32 pm EDT
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-2858211441.html?x=0&.v=1
VANCOUVER, Sept. 14 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company") is pleased to announce that it has increased the size of the financing announced August 11 2009 and completed a private placement of a total of 16,676,750 units at a price of $0.40 per unit for gross proceeds of $6,670,700, subject to the final approval of the TSX Venture Exchange.
Each unit will consist of one common share and one half of one share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of the Company for two years, at a price of $0.50 per share in the first year and at a price of $0.54 per share in the second year. All securities issued will be subject to a four-month hold period. Finder's fees may be payable in accordance with the policies of the TSX.
Pope & Company, an independent brokerage firm that provides investment banking, capital markets and asset management services brokered a portion of the private placement and sold 7,021,500 units. A cash commission equal to 8% of the total proceeds raised will be paid to Pope & Company. Pope & Company will also receive broker warrants, equal to 8% of the units placed, which will be exercisable for a period of two years, at a price of $0.40 per broker warrant, into one common share and one half of one share purchase warrant. Each whole share purchase warrant issued upon exercise of the broker warrants will entitle the holder to purchase one additional common share of the Company for two years, at a price of $0.50 per share in the first year and at a price of $0.54 per share in the second year.
The remaining 9,655,250 units were sold on a non-brokered basis.
The proceeds of the private placement will be used to advance the Company's exploration and development program on its Blue River Tantalum and Niobium Project, British Columbia, to conduct exploration at the Eldor Property, Quebec, and for general working capital.
"We are very gratified by the strong investor response to the private placement," stated David Hodge, President. "The additional funds will permit us to move forward with all due haste in the development of our Blue River Project and exploration of our Eldor Project. We are strengthened by the support shown by our current shareholders as well as from institutional investors."
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare metal deposits with a potential for economic grades and large tonnages. The Company is specifically focused on the development of its Upper Fir tantalum and niobium deposit at the Blue River Project in British Columbia, Canada. For additional information, visit our website at http://www.commerceresources.com or contact investor relations at toll free: 1.866.484.2700 or email: info(at)commerceresources.com.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"David Hodge"
David Hodge
President and Director
Tel: 604.484.2700
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include receiving TSX approval of the private placement and the subsequent completion of the private placement of 16,676,700 units, and that the proceeds of the private placement will be used to advance the continued exploration and development of both the Blue River Project and the Eldor Project and for general working capital.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
visit our website at http://www.commerceresources.com or contact investor relations at toll free: 1-866-484-2700 or email: info@commerceresources.com
Rare earths become rare
Published: 10 Sep 2009 12:02:02 PST
Illustration: Peter C. Espina
By Sun Wei
China's rising strength in rare-earth minerals supply, and its willingness to use that as "a 21st-century economic weapon," have attracted much attention in the past few weeks.
The world's dominant-rare earth minerals producer, China produces more than 93 percent of the global supply of rare-earth metals, a group of 17 "lanthanide" elements essential in high-tech devices and green products.
China's Ministry of Industry and Information Technology is drafting a "Rare-earth Industry Development Plan 2009-2015," pressuring the rare-earth industry to consolidate to become more efficient and less polluting.
Against such background, strategic thinkers in Western countries are starting to worry that China could impose a total ban on exports of terbium, dysprosium, yttrium, thulium, and lutetium, and may restrict foreign sales of other rare-earth metals.
US technology news magazine Wired quoted an old piece of wisdom from the Strategic Air Command as saying, "When you have them by the balls, their hearts and minds will follow."
"China's regulation of its rare-earth metals industry does not aim at subduing any country, but protecting China's national resources, " Zhou Shijian, senior researcher at the China-US Relations Research Center of Tsinghua University, told the Global Times. "The cheap export era should have ended. It is high time, and China has been waited for a long time."
Powers' metals strategic
Fifty years ago, the world economy was established on steel, aluminum and iron. Today, rare-earth metals are reshaping the world economy.
Rare-earth metals are the key to 21st century technology. "Without them, we wouldn't have smartphones, hybrid cars or precision weapons," according to Wired.
China's decision could cause a crisis for high-tech development, according to Britain's Daily Telegraph newspaper.
The newspaper report says global energy competition has entered a new stage, because nations are already experiencing difficulties in acquiring rare raw materials.
Strategic metals are also closely related to sensational techniques.
In July, Chinese border police seized a quantity of the strategic metal vanadium bound for North Korea, foiling an attempt to smuggle a material used to make missile parts.
Vanadium is a metal that strengthens steel and protects against rust. It is alloyed with steel to make missile casings, as well as high-speed tools, superconducting magnets and jet engines.
China restricts the export of vanadium and other minor metals as part of a domestic policy meant to preserve strategic metals, encourage investment in processing industries and control international price fluctuations.
West preserved for years
While China is just starting to acknowledge the strategic value of rare-earth metals, developed nations have long been storing up their own strategic reserves.
As the world's second-largest rare-earth metals holder, the US accounts for nearly 12 percent of worldwide stocks. Early in 1981, the US categorized the metals that are of great importance to the economy and warfare and categorized them as strategic metals.
The administration of former US president Ronald Reagan spent $100 million buying strategic resources, including 62 kinds of minerals, metals and other raw materials.
Since 1999, the US began halting production for strategic and environmental concerns. By importing, the US protects its mineral reserves, according to CCTV.com.
Japan imports nearly all its rare-earth elements from China, with two thirds of its annual imports in reserve for strategic purposes. Since 1983, Japan put seven rare-earth metals into reserve, including nickel, chromium, tungsten, molybdenum, cobalt, manganese and vanadium.
Australia and Canada are also tightening the mining of rare-earth metals, and importing from China for their reserves.
Consumers avoid 'hot water'
Demand for rare-earth metals is forecast to increase by between 10 and 20 percent each year, on the back of growing demand for metals such as neodymium, used to make hybrid electric vehicles and generators for wind turbines.
Japan sees the rare-earth elements as a probable battleground for future trade wars.
The Japan Agency for Marine-Earth Science and Technology has begun developing three robots to search for rare metals, the Asahi newspaper reported.
The government-affiliated organization plans to spend about 3 billion yen on the project. The deep-sea exploration robots, expected to be operational by 2011, will look for rare metals, such as zinc, germanium, manganese, cobalt and nickel, which are used in electronic devices, alloys and other products.
Mines in the US that were forced out of business by price wars may be brought back into use. US-based Molycorp Minerals is preparing to resume mining of rare-earth ore deposits at a California facility, Wired reported.
The Pentagon is likely to take a closer look at this issue. The House and Senate versions of the National Defense Authorization Act – currently awaiting resolution – both contain measures that would require the Department of Defense to study the military applications of rare-earth metals.
A handful of Canadian mining companies are exploring for new supplies in South Africa, Brazil and the US while pushing ahead with existing projects.
Time to realize the value
As fear and criticism of China accumulate, developed nations have hardly mentioned the benefits they have won from China's cheap prices.
"China has not realized the precious value from a strategic perspective," Shen Dingli, a Chinese expert at Fudan University, told the Global Times. "Strategic metals match strategic industries. We own the dominant reserves of rare-earth in the world, but we didn't protect them well."
China produces about 93 percent of global supplies of rare-earth metals, with a single mine in Baotou, in China's Inner Mongolia, producing half of the world's supply.
Former Chinese leader Deng Xiaoping once observed that the Middle East had oil, while China had rare-earth elements. Owning 71 percent of world reserves of rare-earth minerals, China is the only country that can offer 17 different kinds of rare-earth elements. China has incomparable potential in this sector, even compared with the Organization of the Petroleum Exporting Countries (OPEC), which holds 69 percent of the world's oil reserves.
But China has no OPEC-style organization to contribute to pricing rights. Instead, most of the time, rare-earth minerals are over-exploited under an open policy.
Some of the minerals crucial to green technologies are extracted in China using methods that inflict serious damage on the local environment. China dominates global rare-earth production partly because of its willingness until now to tolerate highly polluting, low-cost mining, the New York Times reported.
According to the Financial Times, China produced 96 percent of the world's rare-earth metals in 2005, of which 60 percent was exported. As the exports decreased tenfold this year compared with in 1998, the price has dropped by 36 percent.
"China has been selling these precious rare-earth metals at a dirt-cheap price for 20 years, " Dai Xu, an expert on military issues, told the Global Times.
"Regulations should be brought into force to limit the exploitation of the mines," Shen said, adding that exploiting the mines can damage the environment and, at the same time, endanger China's strategic economic security.
"Strategic metals are pivotal to the future of great powers," Dai said, adding that the control of resources of future techniques indicates the control of the future.
"It is time for China to upgrade the protection of rare earths to a national strategic level," Dai said.
Agencies contributed to this story
http://news.alibaba.com/article/detail/business-in-china/100169407-1-rare-earths-become-rare.html
Commerce Resources Corp. Identifies Rare Earth Zone at Eldor, Quebec
Press Release
Source: Commerce Resources Corp.
On Friday September 4, 2009, 11:30 am EDT
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-1281967649.html?x=0&.v=1
VANCOUVER, Sept. 4 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company" or "Commerce") announces that the summer field program has resulted in the identification a new rare earth (REE) zone at the Eldor Project in northern Quebec, Canada. The new zone, called the Ashram Peninsula, is associated with an approximately 1 km wide by 0.8 km long magnetic low where mineralization was discovered in outcrop with assays greater than 1.00 % REE+Y consistently returned over multiple samples. The area is also the postulated source for an adjacent glacially dispersed mineralized boulder train in which sampling previously returned assays as high as 4.18% REE+Y. Because of the potential significance of this new discovery, the Company is mobilizing a field crew for immediate follow-up sampling. A mapping, prospecting and sampling program will be completed in order to define drilling targets.
A map showing the location of the Ashram Peninsula along with rock samples is available for download at: http://www.commerceresources.com/s/Eldor.asp
The Company is also pleased to report that summer prospecting produced a boulder assay of 1,408 g/t tantalum (Ta(2)O(5)), 6,171 g/t niobium (Nb(2)O(5)), and 0.16% uranium (U(3)O(8)) in the vicinity of the single drill hole drilled at the Star Trench Area in 2008 (EC08-025). The presence of such high grade mineralization points to the niobium-tantalum potential of the zone and the larger property that continues to be evident.
Summer Exploration Program Results
A total of 61 rock, 48 trench, and 5 soil samples were collected during the summer field program from various locations at the property. In addition, 102 drill core samples were collected from previously unsampled drill core, to provide additional information on non-radioactive, niobium-tantalum mineralized zones.
Rock sampling at a 1 km by 0.8 km magnetic low helped identify the new Ashram Peninsula REE mineralized zone. The zone has been defined by multiple outcrop samples returning greater than 1% REE+Y and is adjacent to a glacially dispersed boulder train that returned assays of up to 4.18% REE+Y. Soil samples were collected at locations where rock sampling was not possible. Of the five samples collected, two returned greater than 0.80% REE+Y (0.85% and 1.07%).
The high rare earth values at the Ashram Peninsula are generally within a moderately radioactive, fine-to very fine grained, massive, grey-green carbonatite. Variable amounts of fluorite, disseminated pyrite and other unknown minerals are present. Rare earth mineralization has previously been reported at the Eldor Property within the minerals monazite ((La,Ce,Nd)PO(4)), bastnasite ((Ce,La,)CO(3)F) and xenotime (YPO(4)). Thin sections from the 2009 samples are currently being selected for mineralogical analysis, which will be completed this fall.
In addition to the rare earth zone discovered during the summer program, the presence of significant tantalum-niobium mineralization on the Eldor Project continues to be evident. Summer prospecting at the Star Trench area produced a boulder assay of 1,408 g/t Ta(2)O(5), 6,171 g/t Nb(2)O(5), 0.16% U(3)O(8). Additionally, prospecting at the Southeast Zone in the area of drill hole EC08-025 discovered a large area of highly anomalous radioactivity. Boulder samples in this area, believed to be locally derived and possibly frost heaved, assay consistently higher than 200 g/t Ta(2)O(5) to a high of 1,153 g/t.
Exploration Plans
Based on the encouraging results, a crew is being mobilized for follow-up sampling and is expected to be on site by early to mid-September 2009. A mapping, prospecting and sampling program will be completed with a focus on the significant rare earth values discovered in the vicinity of the Ashram Peninsula in order to define drilling targets.
The diverse array of mineralization found in the Eldor Complex is not uncommon to these types of systems. Carbonatites are very rare and unique rock types, with approximately 500 complexes known worldwide. Often containing a variety of exotic minerals, carbonatites have been known to produce economic concentrations of rare earth elements, niobium, copper, iron, apatite, vermiculite and fluorite; with significant associated commodities which may include barite, zircon, tantalum, gold, silver, uranium, nickel and platinum group elements.
Alex Knox, P.Geol. a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"David Hodge"
David Hodge
President and Director
Tel: (604) 484-2700
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that the discovery of a new rare earth zone on the Eldor Property is potentially significant, that a mapping, prospecting and sampling program is to be completed in September, 2009 in order to define drilling targets and that mineralogical analysis of the 2009 samples will be completed this fall.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
For more information, contact Investor Relations: Tel: (604) 484-2700, Email: info@commerceresources.com, Web: http://www.commerceresources.com
Super-large rare metal deposit (Niobium) discovered in northwest China
China has discovered rare metal deposits of more than 100,000 tonnes of niobium, the nation's largest of its kind, in northwest Xinjiang Uygur Autonomous Region, an engineer revealed Monday
2 Sep 2009 Exotic Metals ►
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http://metalsplace.com/news/exotic-metals/
Full story:
Super-large rare metal deposit discovered in northwest China
+ - 18:05, August 31, 2009
China has discovered rare metal deposits of more than 100,000 tonnes of niobium, the nation's largest of its kind, in northwest Xinjiang Uygur Autonomous Region, an engineer revealed Monday.
"The size has surpassed China's total proven niobium reserve of 80,000 tonnes," said Xu Haiming, a senior engineer with the Institute of Mineral Resources at the Chinese Academy of Geological Sciences.
"The super-large deposit is worth more than 130 billion yuan (19 billion U.S. dollars) after being exploited."
It also has a proven reserve of more than 10,000 tonnes of tantalum and rare earth metals, Xu said.
The deposit is 3,860 to 4,100 meters above sea level, in Baicheng County, Aksu Prefecture of south Xinjiang.
Niobium and tantalum are rare metal elements, which are widely used in the fields of electronics, aviation, atomic energy, and mechanical manufacturing.
The exploration started in 2007 and has cost about 20 million yuan, Xu said.
Source: Xinhua
World faces hi-tech crunch as China eyes ban on rare metal exports
Beijing is drawing up plans to prohibit or restrict exports of rare earth metals that are produced only in China and play a vital role in cutting edge technology, from hybrid cars and catalytic converters, to superconductors, and precision-guided weapons.
By Ambrose Evans-Pritchard
Published: 5:58PM BST 24 Aug 2009
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6082464/World-faces-hi-tech-crunch-as-China-eyes-ban-on-rare-metal-exports.html
China mines over 95pc of the world's rare earth minerals and is looking to hoard its resources.
A draft report by China’s Ministry of Industry and Information Technology has called for a total ban on foreign shipments of terbium, dysprosium, yttrium, thulium, and lutetium. Other metals such as neodymium, europium, cerium, and lanthanum will be restricted to a combined export quota of 35,000 tonnes a year, far below global needs.
China mines over 95pc of the world’s rare earth minerals, mostly in Inner Mongolia. The move to hoard reserves is the clearest sign to date that the global struggle for diminishing resources is shifting into a new phase. Countries may find it hard to obtain key materials at any price.
Alistair Stephens, from Australia’s rare metals group Arafura, said his contacts in China had been shown a copy of the draft -- `Rare Earths Industry Devlopment Plan 2009-2015’. Any decision will be made by China’s State Council.
“This isn’t about the China holding the world to ransom. They are saying we need these resources to develop our own economy and achieve energy efficiency, so go find your own supplies”, he said.
Mr Stephens said China had put global competitors out of business in the early 1990s by flooding the market, leading to the closure of the biggest US rare earth mine at Mountain Pass in California - now being revived by Molycorp Minerals.
New technologies have since increased the value and strategic importance of these metals, but it will take years for fresh supply to come on stream from deposits in Australia, North America, and South Africa. The rare earth family are hard to find, and harder to extract.
Mr Stephens said Arafura’s project in Western Australia produces terbium, which sells for $800,000 a tonne. It is a key ingredient in low-energy light-bulbs. China needs all the terbium it produces as the country switches wholesale from tungsten bulbs to the latest low-wattage bulbs that cut power costs by 40pc.
No replacement has been found for neodymium that enhances the power of magnets at high heat and is crucial for hard-disk drives, wind turbines, and the electric motors of hybrid cars. Each Toyota Prius uses 25 pounds of rare earth elements. Cerium and lanthanum are used in catalytic converters for diesel engines. Europium is used in lasers.
Blackberries, iPods, mobile phones, plams TVs, navigation systems, and air defence missiles all use a sprinkling of rare earth metals. They are used to filter viruses and bacteria from water, and cleaning up Sarin gas and VX nerve agents.
Arafura, Mountain Pass, and Lynas Corp in Australia, will be able to produce some 50,000 tonnes of rare earth metals by the mid-decade but that is not enough to meet surging world demand.
New uses are emerging all the time, and some promise quantum leaps in efficiency. The Tokyo Institute of Technology has made a breakthrough in superconductivity using rare earth metals that lower the friction on power lines and could slash electricity leakage.
The Japanese government has drawn up a “Strategy for Ensuring Stable Supplies of Rare Metals”. It calls for `stockpiling’ and plans for “securing overseas resources’. The West has yet to stir.
>Big D., not sure of the time lines as posed in your questions.
Suggest you contact Chris Grove of Commerce for answers to your questions. He can be reached at 1.866.484.2700
sumi
Commerce Resources Announces $5 Million Private Placement
Press Release
Source: Commerce Resources Corp.
On Tuesday August 11, 2009, 5:33 pm EDT
http://finance.yahoo.com/news/Commerce-Resources-Announces-cnw-3224844215.html?x=0&.v=1
VANCOUVER, Aug. 11 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company") is pleased to announce that it has engaged Pope & Company Ltd. to act as lead agent in connection with a private placement of up to 12,500,000 units at a price of $0.40 per unit.
Each unit will consist of one common share and one half of one share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of the Company for two years, at a price of $0.50 per share in the first year and at a price of $0.54 per share in the second year. The securities issued will be subject to a four-month hold period. The offering is subject to the approval of the TSX Venture Exchange (the "TSX") and a finder's fee may be payable in accordance with the policies of the TSX.
The proceeds of the private placement will be used to advance the Company's continued exploration and development program on its tantalum and niobium properties located near Blue River, British Columbia, to conduct exploration at the Eldor Property, Quebec, and for general working capital.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a particular focus on tantalum, niobium and rare metal deposits with a potential for economic grades and large tonnages. The Company is specifically focused on the development of its Upper Fir tantalum and niobium deposit at the Blue River Project in British Columbia, Canada.
About Pope & Company Ltd.
Pope & Company Limited is an independent brokerage firm providing investment banking, capital markets and asset management services to Canadian enterprises and individuals. Pope & Company, with roots dating back to 1934, is one of the oldest member brokerage firms on the Toronto Stock Exchange. For more information about Pope & Company Ltd., please contact Russell Starr, Head of Sales & Trading, at 416.588.6419.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"David Hodge"
-------------
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include receiving TSX approval of the private placement and the subsequent completion of the private placement of up to 12,500,000 units, and that the proceeds of the private placement will be used to advance the continued exploration and development of both the Blue River Project and the Eldor Project and for general working capital.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
David Hodge, President and Director, Tel: (604) 484-2700
From your knowledge of CCE, how long did it take CCE to put together and then release their NI?
How long and how much did it cost for CCE to uplist to the TSX?
Thanks.
D
Commerce Resources Corp. Exploring Eldor for its Rare Earth Potential
Press Release
Source: Commerce Resources Corp.
On Wednesday July 22, 2009, 9:39 am EDT
http://finance.yahoo.com/news/Commerce-Resources-Corp-cnw-792951069.html?x=0&.v=1
VANCOUVER, July 22 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company") is pleased to report that it has initiated its summer field work program at the Eldor Project, located in the Labrador Trough area of northern Quebec, Canada.
The program will include mapping, prospecting, and rock and trench sampling and is designed to test some of the areas that were identified in 2008 with high values of rare earth elements, tantalum and niobium as well as new prospective areas nearby. In particular, work will focus on the area between the Northwest and Southeast zones close to the high concentrations of rare earth elements identified in rock samples in 2008.
Prior exploration at the Eldor has included soil geochemical surveys, airborne and ground geophysical surveys, geologic mapping, trenching, and diamond drilling. This exploration confirmed the tantalum and niobium potential of the project with results from the 2008 exploration reported June 3, 2009.
In addition to the high values of tantalum and niobium identified over the past two field seasons, anomalous rare earth element rock samples were found concentrated just northwest of a central magnetic low between the Northwest and Southeast areas. Additional prospecting is required, but this magnetic low could represent an area favourable for concentrations of rare earth elements.
Several samples taken in 2007 and 2008 returned anomalous concentrations of rare earth elements, with 42 samples assaying greater than 0.5 per cent and 23 samples assaying greater than 1 per cent. A carbonatite boulder collected in 2007 assayed the highest total rare earth elements, at 41,828 parts per million (4.18 per cent). Considering that nearly 30 per cent of all rock samples collected by the company during 2007 and 2008 returned greater than 0.5 per cent rare earth elements, these results suggest there is good potential for significant rare earth element mineralization on the property.
The diverse array of mineralization found in the Eldor Carbonatite is not uncommon to these types of systems. Carbonatites are very rare and unique rock types, with approximately 500 complexes known worldwide. Often containing a variety of exotic minerals, carbonatites have been known to produce economic concentrations of rare earth elements, niobium, copper, iron, apatite, vermiculite and fluorite; with significant byproducts which may include barite, zircon, tantalum, gold, silver, uranium, nickel and platinum group elements.
An aeromagnetic map with drill hole locations for the Eldor Property may be viewed at: http://www.commerceresources.com/s/Eldor.asp.
Alex Knox, PGeo, a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is developing rare metal projects hosting tantalum and niobium in British Columbia and Quebec. The company aims to become a large and profitable low-cost producer of these metals for the global market. For additional information, contact Investor Relations TF: 1.866.484.2700 or T: 604.484.2700 Email: info(at)commerceresources.com or visit our website http://www.commerceresources.com
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"David Hodge"
-------------
David Hodge
President and Director
Tel: 604.484.2700
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release are that the work program on the Eldor Project includes mapping, prospecting, and rock and trench sampling to test some of the areas that were identified in 2008 that had high values of rare earth elements, tantalum and niobium, that the magnetic low in the Northwest and Southeast areas could represent an area favourable for concentrations of rare earth elements and that results from samples taken in 2007 and 2008 suggest there is good potential for significant rare earth element mineralization on the Eldor Project.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
contact Investor Relations TF: 1-866-484-2700 or T: (604) 484-2700, Email: info@commerceresources.com or visit our website http://www.commerceresources.com
Well we still have some left before we catch up with you..fun ride~
>I wish that it would move as well as SRSR!
CCE..looking good bro~
sumisu,
you should check out this too
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39491178
and this:
Most important out of this years PR`s
Feb 2, 2009 Sarissa Resources CEO, Scott Keevil, commented , "We are very encouraged by the confirming results we have obtained so far from the drilling program at Nemegosenda. These positive results warrant an expanded program to further define the niobium mineralization in this one area of the property."
Feb 17, 2009 The results from these holes indicate the presence of further significant mineralization at depths below what had previously been reported in historic drilling results, confirming Sarissa's theory that the deposit remains open to depth. Sarissa Resources CEO, Scott Keevil, commented, "It's gratifying to see the drilling results confirming, and improving on, what had been historically reported
Feb 26, 2009 The results from these holes continue to confirm and extend the known mineralized portion of the D Zone, including indicating the presence of further significant mineralization at depths below what had previously been reported in historic drilling results. Sarissa Resources CEO Scott Keevil commented, "The results from the current drilling program continue to confirm and increase our confidence in the historic drilling records. With that in mind, our geologists are now re-evaluating the historic drilling, and the re-assays, of the SE Zones, and we hope to do some confirmation drilling in this area soon."
Mar 12, 2009 These results continue to confirm and, with the deeper results from DDH 09-70 and 73, expand on the presence of significant Nb2O5 mineralization within the D Zone.
Mar 17, 2009 The Company is encouraged by the drilling results, which are continuing to outline a significant area of mineralization within the D Zone that appears to be getting deeper towards the east. The results from deeper holes indicate the presence of further significant mineralization at depths below what had previously been reported in historic drilling results, confirming Sarissa's theory that the deposit remains open to depth
Apr 22, 2009 The company is on schedule to produce an N.I. 43-101 mineral resource report. With our work to date, we expect the results of our evaluation to accomplish a number of objectives, including:
-- Materially increase the reported historical resource and;
-- Establish that the Nemegosenda mineral resources represent one of the
larger mineral niobium resources in North America and;
-- Outline the potential mineralized area within the South East Zone.
Notably, all the holes returned significant niobium mineralization, averaging 0.4% Nb2O5 over the entire 1,728 metres that were sent for assaying
It should be noted that the drilling program successfully confirmed both the mineralized zone data historically reported, and that the mineralization continues below what had previously been identified as the depth of the mineralized zone. It has also demonstrated that the mineralized zone increases in grade and depth towards the eastern portion of the zone.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36468774
a share price chart, the other is a resource valuation chart
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=38746047
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=38986834
another summary
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35542207
and beside there main business (Niobium project) they announced this great news:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=38925783
SRSR fact sheet
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36503201
an independend article in Resource world about Sarissa May 2009
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37994558
>Thanks, I will review them.
sumi
RE: SRSR - Here's some links to give you an idea of what Sarissa Resources has and it's potential:
http://finance.yahoo.com/news/Sarissa-Resources-Inc-Summer-iw-493034907.html?x=0&.v=1
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36154727
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39504107
http://stockcharts.com/c-sc/sc?s=SRSR&p=D&b=5&g=0&i=t12137891527&r=2455
http://www.sarissaresources.com/media/factsheet.pdf
http://www.sarissaresources.com/media/hawkins_report.pdf
I think that sould have been JUNE 19, 2009....
Approval for Extension of Share Purchase Warrants
July 19, 2009
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) ("the Company") announces that it has received TSX Venture Exchange (the "Exchange") approval for the extension of a total of 27,291,817 share purchase warrants that were issued pursuant to the $1.20 unit private placements in 2007.
The warrants, which were set to expire on June 26, 2009, July 24, 2009 and August 1, 2009, have been extended to June 26, 2011, July 24, 2011 and August 1, 2011 respectively. The exercise price of the warrants has not been revised.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"David Hodge"
David Hodge
President and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
You can view the Previous News Releases item: Wed Jun 3, 2009, Drilling Results for Commerce Resources Eldor Tantalum, Niobium, Rare Earth Project in Quebec
Tantalum deficit, electronic devices may cost more
2009-06-18 13:55:00
Commodity Online
BRITISH COLUMBIA: The cost of cellphones, laptops, digital cameras, airbags and other electronic devices may go up – as one of the rare metals, tantalum, used in micro-electronic capacitors is in short- supply worldwide.
Tantalum is also used for specialty applications in the aerospace, medical (trabecular, metal implants) and nuclear power industries. Tantalum is a specialty metal that has the highest capacitance (ability to hold and release electricity) known to science.
Demand for tantalum has increased at the rate of 5% since 1990 as more micro-electronic devices are being consumed by expanding global economies. Tantalum supply has been under stress during the past six months as the three largest suppliers have either shut down or exhausted their supplies. This includes Talison from Australia which suspended its Wodgina operations due to rising production costs, Noventa in Mozambique and The United States Defense Logistics Agency, the second largest supplier of tantalum (2001-07, 500,000 pounds per year).
Since most of the world’s supply has been shut out, the majority of tantalum is now coming from the Democratic Republic of Congo where it is mined as “coltan,” produced in unethical and inhumane ways, and the profits of which fund the ongoing wars that have plagued the country for years.
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Another rare metal, Niobium, is also in short supply. It is used as an alloy in the production of steel and super alloys. It is used, for example, in the construction of bridges, buildings and oil and gas pipelines.
The significant deficit in tantalum and niobium is encouraging firms like Canadian-based Commerce Resources Corp. to develop new sources of supply of these rare metals. Commerce, now exploring for tantalum and niobium in central British Columbia informed Commodity Online that considerable progress has been achieved by the company at its Blue River project. “Commerce’s Blue River project is in the development stage and we are working towards becoming a stable, ethical and reliable source of tantalum supply for the world market.” the company said.
The Blue River project is a 1000 sq km property located 10 km north of the town of Blue River which was acquired by Commerce Resources in 1999. It is prospective for carbonatite hosted niobium and tantalum mineralization. Currently, Australia accounts for 30% of primary production of tantalum while Africa accounts for 37%, Brazil 14%, Canada 4%, Russia 3% and China 8%. Pricing of tantalum and niobium is normally established in long-term contracts between miners and processors. Current market volatility has not affected the long-term contracts. Current prices are: concentrate US $60/lb, Tantalum oxide (K2TaF7) US $140/lb, capacitor-grade tantalum power US $350-$400/lb.
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Commerce Resources Background
Commerce Resources Corporation
1450-789 West Pender Street
Vancouver, BC V6C 1H2
U.S. Toll-Free # 1-866-484-2700
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COMPANY WEB PAGE
http://www.commerceresources.com/
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FACTS ABOUT COMMERCE RESOURCES AND TANTALUM
Commerce Resources has an increasingly important 100% owned tantalum-niobium property at Blue River in British Columbia Canada.
The United States does not have a tantalum mining industry because U.S. resources are of low grade, and the United States must import all of its tantalum source materials for processing.
Tantalum has been classified as a "strategic metal" by the United States Government.
It is worth currently about $200 Canadian per pound. (About $170 U.S.)
Commerce, through drilling and extensive analysis, has defined a resource of more than 8 million pounds of Ta2 05. This resource value
was developed using official 43-101 standards mandated by the Canadian Government for their resource mining companies.
Most of the World's tantalum goes into making capacitors for electronics... (for example, in cell phones).
The use of tantalum is preferred over other metals due to its reliable long life, low energy use, resistance to temperature fluctuations and high capacitance.
Tantalum is VITAL! It cannot be substituted by other metals for high function cell phones such as picture, video, colorscreen phones and Blackberry devices (small handheld e-mailers).
Given the growing usage and dependence of people on cell phones and computers,
it is no wonder that TANTALUM is being called
"THE HIGH TECH METAL" and also called "THE METAL OF THE FUTURE."
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COMMERCE RESOURCES INC.FILINGS & PUBLIC DOCUMENTS with SEDAR
http://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00016212
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COMPANY DETAILS
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FOR COMMERCE NEWS RELEASES
http://finance.yahoo.com/q?s=cce.v
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
INFORMATION LINKS FOR TANTALUM AND NIOBIUM
http://minerals.usgs.gov/minerals/pubs/commodity/niobium/
TANTALUM-NIOBIUM INTERNATIONAL STUDY CENTER
http://www.tanb.org/index.html
Element Tantalum - TA
http://environmentalchemistry.com/yogi/periodic/Ta.html
Table of contents for tantalum
http://www.webelements.com/webelements/scholar/elements/tantalum/index.html
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OTHER DUE DILIGENCE
Commerce Resources Corporation and Tantalum by Ed Hone, Mar 2, 2007
http://www.321gold.com/editorials/hone/hone030207.html
EMPOWERING HIGH TECH MATERIALS - H.C. Starck
http://www.youtube.com/watch?v=V7u102FJdoM
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COMMENTS FROM SHAREHOLDERS
Sumisu 2/07/2007
"Fortuitously Commerce Resources enjoys these power and transportation advantages.
I just wish I had more funds to increase my position at the current price."
EnergyGuy62 2/06/2007
"Suppose it turns out, that the Blue River is one huge massive all-joined-together-everywhere deposit?
....if you look at a map of the Blue River Property, the Fir deposit, the Verity deposit and the Upper Fir deposit stretch across the northern part of the property.
And the Bone Creek deposit is in the south central part."
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