I recently updated the list of projects on the TMR Advanced Rare-Earth Projects Index, to reflect a recently announced update to a rare-earth mineral-resource estimate. I also made some other updates. The effective date of the updates is December 7, 2012. The specifics:
- On November 26, 2012, Avalon Rare Metals Inc. (TSX:AVL, MKT:AVL) announced an updated NI 43-101-compliant mineral-resource estimate for the Basal Zone of the Nechalacho project in Canada. According to the associated press release, 10.9 Mt of the resource is at the Measured level @ 1.67% TREO, 55.0 MT is at the Indicated level @ 1.54% TREO and 59.9 Mt is at the Inferred level @ 1.28% TREO (each at a cut-off grade of $USD320 / tonne net metal return).
After considering the differentiation that certain companies are making between zones of their projects, for pre-feasibility and feasibility study purposes, I have now separated out the details of specific zones present at three rare-earth projects, to go along with the existing differentiation between the Central Lanthanide and Duncan Deposits at Mount Weld, owned by Lynas Corporation Ltd. (ASX:LYC, OTCQX:LYSDY).
- The Main and MHREO Zones of the Ashram project in Canada (formerly referred to on the Index as the Ashram zone of the Eldor project), owned by Commerce Resources Corp. (TSX.V:CCE, OTCQX:CMRZF, F:D7H);
- The Basal and Upper Zones of the aforementioned Nechalacho project in Canada; and
- The Enriched and Granite Zones of the Strange Lake B-Zone project in Canada, owned by Quest Rare Minerals Ltd. (TSX:QRM, MKT:QRM).
With this update, The Index currently consists of 48 rare-earth mineral resources, associated with 44 advanced rare-earth projects, 42 different companies and located in 31 different regions within 14 different countries.
I have also updated the pricing used in the Index data, to reflect the average monthly prices for November 2012 and the moving three-year average price for separated rare-earth oxides.
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.