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Commerce Announces Positive PEA for Ashram REE Project
May. 24, 2012 10:33AM PST
Rare Earth InvestingCommerce Resources Corp. (TSXV:CCE,FWB:D7H,OTCQX:CMRZF) announced positive preliminary economic assessment results for the Quebec-based Ashram rare earth deposit.
Commerce Resources Corp. (TSXV:CCE,FWB:D7H,OTCQX:CMRZF) announced positive preliminary economic assessment results for the Quebec-based Ashram rare earth deposit.
As quoted in the press release:
Key Findings of the PEA
- 4,000 t/d, open-pit operation with 0.19:1 (waste:ore) strip ratio over 25 year mine life
- Pre-tax Net Present Value (NPV) of $2.32 billion dollars at a 10% discount rate
Commerce’s President and CEO, David Hodge said:
The PEA displays robust economics for the Ashram Deposit, and recommends next steps for the economic evaluation of this very large and highly strategic resource. The high NPV derives partly from the value of the Ashram material in that it is enriched with all five of the critical REE’s.
Click here for the Commerce Resources Corp. (TSXV:CCE) press release.
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