Texas Rare Earth Revises Project Plan

Texas Rare Earth Resources (OTCMKTS:TRER) is doing its best to raise $1.6 million to fund metallurgical studies for its West Texas rare earth project.

As quoted in the press release:

Texas Rare Earth also has revised its project plan. The revised plan now calls for a staged start-up process that would require $60 million to $90 million to begin mining operations instead of the $293 million estimated under a plan the company announced late last year. With the staged-growth approach, “we believe that this is the absolute lowest-cost (rare earth minerals) project in the world,” Anthony Marchese, a New Jersey investment banker and chairman of the company’s board of directors, said during a presentation Monday in a conference room in the Wells Fargo office building in Downtown El Paso and broadcast via phone and Internet to shareholders and others.

Click here to read the Texas Rare Earth Resources (OTCMKTS:TRER) press release