Commerce Res' at the 2019 PDAC (Brief meeting review)Commerce Res' at the 2019 PDAC (Brief meeting review)Commerce Resources - CMRZF Recently, Commerce Resources https://www.commerceresources.com provided the Rare Earths Investor with an update concerning several beneficial meetings in which the company was involved, during the 2019 PDAC conference. See below -
On the first day President, Chris Grove, by invitation, presented the Ashram REE Deposit at an event hosted by Denmark at their consulate, which was attended by Crown Prince Frederik. Next, an important update meeting was held with the Societe du Plan Nord. They were delighted to hear that Commerce is seeing progress on the Letter of Intent the company has been working on, since the Fall of 2016 with the two Inuit corporations – the Makivik and the Nayumivik. The Chairman of the Societe du Plan Nord indicated that a signed letter was needed to show the Inuit are in favor of both the Ashram project and the supporting infrastructure build, which Commerce would require to get its product to world markets. This sense of project progress was further enhanced by another meeting at the conference with Inuit representatives, who indicated the belief that they would have the final language back from their lawyers on the Letter of Intent, very soon.
On the second day, Commerce CEO Chris Grove had a positive meeting with the fund manager of their company’s largest shareholder, Denis Williams from Ressources Quebec. Also, a meeting was held with the principals from NRCan who were happy to be working on the Ashram project for the remainder of the $16 M CAD Federally funded optimization program, which will start its 4th year on April 1, 2019.
Commerce has emphasized that only the Ashram REE project in Canada can produce a concentrate that is above 10% REO and is currently able to produce concentrates in the +45% REO range from three different flow sheets. The company is currently analyzing these flow sheet approaches to establish which will require the least cost; a great problem to have.
On the final conference day, a meeting was held with a United States Department of Commerce representative in Toronto. This person will help Commerce identify American majors looking to reduce or eliminate their current and total REE dependency upon Chinese suppliers. In fact, since the conference, Commerce has received about a dozen names of US majors who are looking for diversification of REE supply, along with contact information for their
Overall, Commerce indicated that informal meetings with REE experts during the PDAC conference suggested an optimistic sense about future global REE markets, related to potential supply demand and price increases.
Below is a link to Commerce Resources latest presentation
https://www.commerceresources.com/assets/pdf/Ashram%20Corporate%208%20March%202019.pdf