Commerce Resourc Stock Price, News & Analysis

Commerce Resources Corp. announced the completion of a non-brokered private placement, raising $1,310,748 by issuing 8,192,175 units at $0.16 per unit. Each unit consists of one common share and one warrant, with warrants priced at $0.25 for three years. Proceeds will be used for the prefeasibility study for the Ashram REE/Fluorspar Deposit and for general working capital. The company aims to be a low-cost rare earth producer with the Ashram Deposit being one of the largest globally.

Commerce Resources Corp. has successfully shipped a 100g sample of mixed rare earth carbonate (REC) with a 21.9% NdPr oxide distribution to a major global processor outside of China. This sample, produced as part of the company's scale-up process, meets market specifications and showcases high NdPr distributions, among the best globally for non-cerium depleted REC. The company is also producing an additional 1.5 kg of mixed REC to fulfill further requests. The Ashram Deposit remains one of the largest REE and fluorspar deposits worldwide, with significant resources.

Commerce Resources Corp. has received a 30-day extension from the TSX Venture Exchange for its non-brokered private placement until December 5, 2022. The Offering aims to issue up to 12,500,000 units at $0.16 each, raising a total of $2 million. Each unit includes one share and a warrant, allowing the purchase of additional shares at $0.25 for three years. Proceeds will support the prefeasibility study for the Ashram REE/Fluorspar Deposit and general working capital. Insider participation is permitted under certain conditions.

Commerce Resources Corp. (OTCQX:CMRZF) announced the successful production of approximately 1.2 kg of mixed rare earth carbonate (mixed REC) concentrate at its Ashram Deposit. The company plans to ship 0.5 kg samples to major processors, with a neodymium plus praseodymium (Nd+Pr) distribution of 21.9%, exceeding many global competitors. The scale-up from gram to kilogram quantities marks a significant milestone, with the company poised to produce an additional 1.5 kg of mixed REC to meet demand. The Ashram Deposit is one of the largest REE deposits globally.

Commerce Resources Corp. has completed its 2022 drill program at the Ashram Rare Earth and Fluorspar Deposit in Quebec, totaling approximately 2,760 meters across twelve drill holes. Significant step-out drill holes extended the mineralized footprint by ~100 meters to the southeast. The program aimed to enhance the geological model and increase resource confidence, particularly in neodymium-praseodymium (NdPr) contents, which range from 21-24+% by weight. With ongoing core processing and pending geochemical analysis, the results will refine the geological model and support future prefeasibility studies.

Commerce Resources Corp. (OTCQX:CMRZF) has announced the completion of three diamond drill holes at the Niobium Claim Group Property, as part of Saville Resources Inc.'s ongoing drilling program. The drill program, totaling approximately 603 m, aims to follow up on previous high-grade niobium mineralization. Notably, past drilling returned significant grades, including 1.00% Nb₂O₅ over 17.1 m. The mineralogy indicates pyrochlore as a dominant mineral, with secondary interest in tantalum and fluorspar. Core processing is underway, and samples will be sent for analysis.

Commerce Resources Corp. announced a non-brokered private placement of up to 12,500,000 units at $0.16 each, aiming for gross proceeds of $2,000,000. Each unit consists of one common share and a warrant purchasable at $0.25 over three years. The offering is open to existing shareholders, with a record date set for August 12, 2022, qualifying for the Existing Security Holder Exemption. Proceeds will support pre-feasibility studies at the Ashram REE/Fluorspar Deposit, along with producing rare earth samples and general working capital. Completion is subject to TSX Venture Exchange approval.

Commerce Resources Corp. (OTCQX:CMRZF) reports progress on its 2022 drill program at the Ashram Rare Earth and Fluorspar Deposit in Quebec. Completed drilling now totals approximately 1,003 m, extending the mineralized footprint by 100 m to the southeast. The deposit's dimensions are now at least 700 m along strike, 300 m wide, and 600 m deep. The company aims to enhance resource confidence, focusing on areas with high NdPr content. A Prefeasibility Study is underway, anticipating a larger pit shell compared to previous assessments. Core samples are being prepared for geochemical analysis.

Commerce Resources Corp. (OTCQX:CMRZF) announced the initial shipment of 2 kg of Ashram Deposit whole rock crushed material to a rare earth element processor. Following a sample of mixed rare earth carbonate delivered earlier, the new shipment is aimed at evaluating processing capabilities. The processor has shown interest in a larger follow-up shipment of 200 kg and in mixed REC concentrate, highlighting strong NdPr distributions of 21.6-24.2%. The Ashram Deposit is among the largest global REE sources, with substantial measured and indicated resources, and a prefeasibility study is planned for early 2023.