I recently updated the TMR Advanced Rare-Earth Projects Index, to reflect various project updates since the last edition. The effective date of the latest edition is May 16, 2014. The specifics:
- On September 2, 2013, Galileo Resources PLC (AIM:GLR) announced (in a summary of its audited results for the year ending March 31, 2013) that in March 2013, the company informed Rare Earth International Ltd. that it was no longer interested in pursuing the Xiluvo project in Mozambique. In turn, Rare Earth International Ltd. has apparently informed the mining permit owners, Promac Lda, that it no longer wishes to pursue the project either. Consequently Promac Lda is now listed on the Index as the owner of the project;
- On December 23, 2013, Texas Rare Earth Resources Corp. (OTCQX:TRER) published an updated NI 43-101-compliant mineral-resource estimate for the Round Top project in the USA, as part of a revised Preliminary Economic Assessment (PEA). According to the technical report, 231.0 Mt of the resource is at the Measured level, @ 0.06 wt% TREO, 298.0 Mt is at the Indicated level @ 0.06% TREO, and 377.0 Mt is at the Inferred level @ 0.06% TREO, each at a cut-off grade of 0.0428% yttrium; and
- On March 17, 2014, Rare Element Resources Ltd. (TSX:RES, MKT:RER) announced an updated NI 43-101-compliant mineral-resource estimate for the Bear Lodge project in the USA. According to the associated Form 10-K filing and correspondence with the company, 2.6 Mt of the resource is at the Measured level, @ 3.88 wt% TREO, 13.1 Mt is at the Indicated level @ 2.96% TREO, and 36.4 Mt is at the Inferred level @ 2.53% TREO, each at a cut-off grade of 1.5 wt% TREO;
The Index currently consists of 57 rare-earth mineral resources, associated with 51 advanced rare-earth projects and 48 companies, located in 34 regions within 16 countries.
I have also updated the pricing used in the Index data, to reflect the average monthly prices for April 2014, as reported by Metal Pages. You can access the updated details via the Index page.
One final note – the easy-to-remember shortcut for accessing the Index is www.RareEarths.org.
Disclosure: at the time of writing, Gareth Hatch holds no shares or stock options in any of the companies mentioned in this article, or in any publicly traded rare-earth company, nor is he doing paid consulting for any such company.