AVL: Rapidly Progressing

Mickey Fulp, Mercenary Geologist (07/26/2010)
"Avalon is a company with which I have a long history of coverage, both privately and publicly. It is rapidly progressing on its Thor Lake rare earth element project where I visited twice. . .Avalon announced a new resource estimate on its Nechalacho deposit, comprehensive bench-scale metallurgical results, a PFS and final winter drill results. The PFS was a very positive step in its progression toward a development decision and was the first economic analysis by any REE company. A new resource and reserve estimate incorporating winter drilling is pending and pilot plant metallurgy will commence when bulk sample material is produced from this summer's drill program. I publicly covered Avalon in September 2008 at $1.00; it, subsequently, went as low as $0.51 with tax-loss selling in mid-December 2008, reached an all-time high of $4.24 about 10 months ago and closed July 26th at $2.70. I am bullish on Avalon's long-term prospects."

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