May 2013 Updates To The TMR Advanced Rare-Earth Projects Index

I recently updated the TMR Advanced Rare-Earth Projects Index, to reflect one name change and three updates. The effective date of the update is June 20, 2013. The specifics:

• On March 7, 2013, Galileo Resources PLC (AIM:GLR) announced an update to the SAMREC-compliant mineral-resource estimate for the Glenover project in South Africa. According to the executive summary of the associated preliminary economic assessment, 7.4 Mt of the resource is at the Indicated level @ 2.20% TREO and 3.0 Mt is at the Inferred level @ 1.96% TREO (cut-off grade not specified).
• On May 23, 2013 AMR Mineral Metal Inc. announced an updated NI-43-101-compliant mineral resource estimate, as part of a maiden Preliminary Economic Assessment (PEA) for its Aksu Diamas project in Turkey (previously referred to as Canakli I). According to the associated technical report, 494 Mt of the resource is at the Inferred level @ 0.07% TREO, with no specific cut-off grade.
• On June 10, 2013, Pele Mountain Resources Inc. (TSX.V:GEM, OTCQX:GOLDF) announced an updated NI-43-101-compliant mineral-resource estimate, as part of a maiden PEA for the Eco Ridge project in Canada. According to the associated press release, 22.7 Mt of the resource is at the Indicated level @ 0.16% TREO and 36.6 Mt is at the Inferred level @ 0.1.6% TREO (each at a cut-off value of $90 / t). A foot note indicated that the resource update was for the MCB Zone of the deposit; there was no mention of, or an update provided for, the previously reported Hanging Wall Zone.

The Index currently consists of 51 rare-earth mineral resources, associated with 46 advanced rare-earth projects and 44 different companies, located in 32 different regions within 15 different countries.

I have also updated the pricing used in the Index data, to reflect the average monthly prices for May 2013. You can access the updated details via the Index page.

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.