After yesterday's announcement where Commerce Resources (TSX:V.CCE, Stock Forum) celebrated intersecting 2.32% TREO over 96.66 metres effectively expanding the MHREO Zone at the Ashram Rare Earth Deposit located in the Northern Quebec, the company was highlighted in coverage carried out by Rockstone Research.
Analysts at Rockstone spoke with the company's qualified person, geologist, Darren Smith, and examined the company along with its efforts at the increasingly prospective Ashram Rare Earth Deposit and according to today's news release, yesterday's drill results intersected 4 times ,in 3 separate holes, the same mineralization that occurred in the identified MHREO Zone, noted to be the most valuable type of mineralization in the Ashram Deposit.
The release went on to note that not only had the MHREO Zone been expanded, but with higher grades. The company is making moves to advance Ashram toward production as the next resource estimate, to be prepared in conjunction with the on-going pre-feasibility study, is expected to elevate the projects economics significantly.
Rockstone also stated that Ashram has some of the best economics in the sector and the project leads the way in its capability to produce high-enough mineral concentrate for refineries and end-users.
Commerce Resources was in the news recently when the company received positive coverage by Secutor in the middle of May.
Shares climbed 18.52% on the news to $0.32 per share.
Currently there are 169.2m outstanding shares with a market cap of $54.1 million.