Commerce Resources Corp (CCE)

[goforthebet]

Brian Tang: Bullish on Finite Resources

TGR: I know one of the companies you’re following is Commerce Resources Corp. (TSX.V:CCE) (PK SHEETS:CMRZF). Can you comment on them?

BT: Vincent, our geologist, will discuss Commerce.

Vincent Weber: With regard to Commerce, they’re focusing largely on their Upper Fir project. They did 131 HQ diameter drill holes totaling just over 26,000 meters in their last phase of drilling, and they’re targeting carbonatites that host tantalum and niobium mineralization. Tantalum is used for capacitors, like those used in cell phones; niobium is used for special alloys for steels. They just put together a 2,000-ton bulk sample on the Upper Fir Carbonatite, which they’re sending to a company in Richmond, B.C., for sampling to characterize the deposit. They’re also going to put together a flow sheet and a pilot test plant to try and determine the appropriate recovery method.

SR: We believe that Commerce is one of the companies that raised capital at the best time—when the market was at a peak, so based on their latest financial statements, they had about $22 million in cash at the end of July 2008 and that’s like 20 cents per share. Share prices are currently 24 cents per share, so the market value is very little for their projects.

http://jutiagroup.com/2009/02/07/brian-tang-bullish-on-finite-resources/