Welcome to our dedicated page for Commerce Resources news (Ticker: CMRZF), a resource for investors and traders seeking the latest updates and insights on Commerce Resources stock.
Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located within their Eldor Property, in northern Quebec, Canada. The company aims to be one of the lowest cost rare earth producers globally, with a specific focus on supplying mixed rare earth carbonate and/or NdPr oxide to the global market. With a large tonnage resource at favorable grade, the Ashram Deposit has shown the production of high-grade mineral concentrates at high recovery rates, aligning with leading global producers. Additionally, the company explores the potential of other commodities like niobium and phosphate minerals on the Property, aiming to reduce costs through shared development.
Commerce Resources Corp. (TSXV:CCE, FSE:D7H0, OTCQX:CMRZF) has extended the deadline for its previously announced non-brokered private placement offering. The company aims to raise up to $2,016,000 by issuing 16,000,000 units at $0.126 per unit. Each unit includes one common share and one warrant, with the warrant allowing the purchase of an additional share at $0.25 for two years. The new deadline is August 26, 2024.
Churchill SIG Pty will act as the exclusive lead manager for a portion of the offering, receiving a 5% cash fee and 12.5% in finder's warrants for subscribers they introduce. The net proceeds will fund the completion of an updated PEA for the Ashram REE/Fluorspar Deposit and general working capital.
Commerce Resources has filed a technical report on SEDAR+ for the Ashram Rare Earth Element & Fluorspar Deposit in Quebec, Canada. The report, prepared in line with NI 43-101 standards, follows a May 22, 2024 announcement of an updated mineral resource estimate for Ashram featuring 73.2 Mt at 1.89% TREO and 6.6% CaF2 indicated, and 131.1 Mt at 1.91% TREO and 4.0% CaF2 inferred. Prepared by BBA Inc. with contributions from PLR Resources, DRA Global , and L3 Process Development, the report is now available on SEDAR+ and will soon be on the company’s website.
Commerce Resources has launched its summer diamond drilling program at the Eldor property in Nunavik, Quebec, targeting niobium deposits. The program aims to explore several high-priority targets identified from previous geological surveys and geophysical data. The drilling is expected to enhance the understanding of the mineralization and potentially expand the resource base. This initiative aligns with the company's strategic focus on advancing its niobium project, a critical mineral used in the aerospace, automotive, and energy sectors.
Commerce Resources Corp. has successfully closed a non-brokered private placement, raising $5,040,000 through the sale of 28,000,000 flow-through units at $0.18 each. Each unit includes one common share and one transferable warrant, which can be used to purchase an additional share at $0.25 within 24 months. The proceeds will fund exploration expenses for the Company's niobium targets in Nunavik, Quebec. Peartree Securities Inc. structured the offering, and Churchill SIG Pty facilitated investor introductions, receiving $162,890 and 3,231,945 finder's warrants. These warrants allow Churchill to buy additional shares at $0.20 over two years. All securities involved are subject to a four-month hold period.
Commerce Resources Corp. (OTCQX:CMRZF) announced the completion of the sale of its Blue River property in British Columbia. The assets sold include mineral claims and real property.
In return, Commerce Resources received 20,000,000 shares of the purchasing private company, valued at $0.05 per share. The company intends to distribute these shares to its shareholders pro rata.
Details about the transaction are available on SEDAR+.
Commerce Resources has announced a non-brokered private placement to issue up to 16,000,000 units at $0.126 per unit, targeting gross proceeds of $2,016,000. Each unit contains one common share and one warrant, with the warrant allowing the purchase of an additional share at $0.25 within two years. Churchill SIG Pty will act as the exclusive lead manager for a portion of the offering, earning a 5% cash fee and 12.5% in non-transferable share purchase warrants for their services. The net proceeds will be used for the updated PEA of the Ashram REE/Fluorspar Deposit and general working capital. All securities will have a statutory hold period of four months and one day, and the offering is subject to TSX Venture Exchange approval.
Commerce Resources Corp. has announced a non-brokered private placement offering of up to 27,777,777 charity flow-through shares at $0.18 per share, aiming to raise up to $5,000,000. Churchill SIG Pty will act as lead manager for this placement outside Canada. Churchill will receive a 5% cash fee and 10% in non-transferable share purchase warrants for funds raised. The raised funds will be used for exploring niobium targets in Nunavik, Quebec. The offering will close around June 18, 2024, subject to regulatory approvals. Insiders may participate, adhering to Multilateral Instrument 61-101 standards. The securities will have a hold period of four months and one day from closing.
Commerce Resources Corp. announced a non-brokered private placement offering of up to 28,000,000 charity flow-through units (FT Units) at $0.18 per unit, aiming to raise up to $5,040,000. Each FT Unit includes one common share and one transferable share purchase warrant exercisable at $0.25 within two years. Peartree Securities Inc. has structured the charity arrangement. Churchill SIG Pty will act as lead manager for three months, introducing potential subscribers outside Canada for a 5% cash fee and warrants equal to 12.5% of the FT Units sold. The offering, subject to regulatory approvals, is expected to close on or around June 18, 2024. The proceeds will fund drilling programs in Nunavik, Quebec, targeting niobium. Certain insiders will participate, qualifying this as a related party transaction under MI 61-101.
Commerce Resources Corp. (OTCQX:CMRZF) has announced its 2024 summer diamond drill program at the Eldor Property, targeting niobium prospects in Quebec. The program includes 20-30 drill holes, totaling at least 7,500 meters. Focus areas are the Mallard and Miranna Prospects, known for high-grade niobium mineralization. Previous drilling at Mallard revealed promising results, including 1.00% Nb2O5 over 17.1 meters. The new drilling aims to further delineate mineralization. Miranna's initial tests in 2021 showed high-grade findings, such as 1.20% Nb2O5 over 3.1 meters. The company plans to expand on these findings during the upcoming campaign.
Commerce Resources has announced a significant update to the mineral resource estimate (MRE) for the Ashram Rare Earth & Fluorspar Deposit in Quebec. The indicated resource tonnage has increased by 164%, now standing at 73.2 Mt at 1.89% TREO and 6.6% CaF2, with inferred resources at 131.1 Mt at 1.91% TREO and 4.0% CaF2. The deposit shows high percentages of neodymium (Nd) and praseodymium (Pr), important for magnet production.
The updated MRE includes data from 28,783 meters of diamond drilling and incorporates three monazite-mineralized zones. The geological model suggests a continuous mineralized carbonatite body, enhancing the project's extraction potential. A forthcoming niobium drill program aims to explore further resource potential.
This update reinforces Ashram's status as a major rare earth element (REE) deposit, with high strategic value due to its favorable element distribution. The company plans ongoing work to unlock the deposit's full potential.
FAQ
Where is Commerce Resources Corp. located?
What is the focus of Commerce Resources Corp.?
What is the primary objective of Commerce Resources Corp.?
What sets Commerce Resources Corp. apart from other companies in the industry?
What is the significance of the Ashram Deposit to Commerce Resources Corp.?
