Texas Rare Earth Resources Corp. (OTCQX: TRER) is beginning baseline air quality monitoring at its Round Top Project for future operations in support of the company’s strategy to monetize all assets at the project.
As quoted in the press release:
The initiation of the air quality baseline study is in line with the Company’s strategy to maximize the value of all the assets present at the Round Top Project, including the historical beryllium and the potential uranium resource. Texas Rare Earth Resources does not intend to operate a beryllium mine at this time. However, the Company’s management believes that this zone could be brought into production relatively quickly since much of the development work has been completed and that the Company’s management believes that the 1988 Cyprus feasibility study provides an excellent mine plan. The asset value of this “developed” beryllium resource is large and the Board of Directors has determined that this value may be enhanced with operating permits in hand.
Texas Rare Earth’s CEO, Dan Gorski, said:
This baseline study will also be applicable to the envisioned rare earth operations. We have budgeted $56,000 in first year costs for such monitoring and anticipate future air monitoring costs at $18,000 per year. Based upon our financial position, current analysis and strategy, we are confident in our ability to create additional value for our shareholders in the near term.
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