RE:Use of proceeds - CCEMoulouk,
. I wish I could understand what remain to be done on Ashram and how much more CCE will need to complete or go to the next stage whatever it could be. Please have a quick look at the latest company presentation from August 2019 The Ashram Deposit
Rare Earth Elements/ Fluorspar
Quebec, Canada
https://www.commerceresources.com/assets/pdf/29aug2019.pdf Page 3 gives you your answer: Capital Objectives
Phase 1
Separated Oxides sample production $3M
Phase 2 PFS/ BFS $15M
Those $3M for the samples get hopefully collected by this PP.
Those $15M for the necessary studies to get the mine permitted hopefully come by off take agreements with companies like Glencore or companies getting these samples.
Additional see the latest News:
The aggregate gross proceeds from the sale of the Offering will be used to advance the developments of the Company’s Ashram Rare Earth Deposit in Quebec, including the re-start and completion of the pilot plant at Hazen Research in Golden, Colorado, for inclusion in the ongoing Pre-feasibility study, and for the production of representative samples of rare earth oxides for delivery to industry majors, as requested. Prior to the re-start of the pilot plant at Hazen, the Company expects the completion of the metallurgical reports from the previous operation of the pilot plant detailing the production of rare earth concentrate samples achieved. Currently, the upgrading of the fluorite concentrate, produced during the previous operation of the pilot plant at Hazen, is underway, with the intent of delivering an acid grade fluorspar sample, to Glencore and Norfalco Sales, as requested.
https://www.commerceresources.com/en/news/commerce-resources-corp-to-utilize-existing-shareholder-prospectus-exemption-in-usd3-m-private-placement
December 1, 2018, the Company renewed the agreement for another period of 12 months at $30,000 per month
On May 1, 2008, the Company entered into a Management & Administration Agreement (“Agreement”) with Zimtu Capital
So this agreement works now for 10 years, isn't this not a a good sign in itself?
And I asked this question before: what happen to the sample sent to Ucore in June 2017 ?
Well, you should ask this to IR cgrove@commerceresources.com
and keep us informed of the answer...JMHO