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Commerce Resources Corp.

TICKER: CCE:TSX.V; D7H:FSE; CMRZF:OTCQX

Commerce Resources Corp. is an exploration and development company with a particular focus on developing its Blue River tantalum and niobium deposit (British Columbia) and its Ashram rare earth element project (Quebec). Both projects have significant resources and robust economics released in respective PEAs. The company is working towards the completion of prefeasibility studies for both assets.


The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

Derek Hamill, Zimtu Capital Corp. (10/9/14) "At bench scale, mineralized material from Commerce Resources Corp.'s Ashram was able to achieve above 40% total rare earth oxides with a 97% mass reduction while retaining a 70% cumulative recovery of rare earth elements. . .this is an important achievement for the company as it suggests strong potential for Ashram to produce a high-purity rare earth carbonate ideal for hydrometallurgical processors at competitive operating costs."

Stephan Bogner, Rockstone Research Ltd. (8/27/14) "The latest news from Commerce Resources Corp. continues to prove that the Ashram deposit is leading the pack and that all peers in the REE space are lagging behind in terms of proving a metallurgy that works economically and with commercial viability. Ashram is the only REE development project that fulfills the crucial criteria of being able to produce a >30% total rare earth oxide mineral concentrate at an appreciable recovery. . .the company is currently at the crossroads of having the potential to make practically any product that the REE market wants."

The Mining Report Interview with Luisa Moreno (7/8/14) "A company with some positive results is Commerce Resources Corp., which has the Ashram deposit in Québec. The company recently has shown that it can produce a concentrate running 40% TREO. Commerce introduced a leaching step and with that it has been able to achieve a much higher grade concentrate. . .it has shown positive metallurgy results." More >

Derek Hamill, Zimtu Capital Corp. (7/7/14) "Commerce Resources Corp. released a follow-up set of drill results on July 2, 2014, from the wholly owned Ashram rare earth deposit in Quebec. . .the company has made several positive discoveries that further strengthen the robust economics of Ashram."

Stephan Bogner, Rockstone Research Ltd. (7/3/14) "Commerce Resources Corp. just published results from the 2014 drill program at its 100%-owned Ashram rare earth project. . .yesterday's drill results show that the company intersected four times (in three separate holes) the same mineralization that occurs in its identified MHREO zone, which is the most valuable type of mineralization in the Ashram deposit and where the starter pit is anticipated to be located."

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Arie Papernick, Secutor Capital Management Corporation (4/28/14) "Commerce Resource Corp. is one of the most advanced REE juniors in regards to metallurgy, which in the REE space is everything. The Ashram project hosts a substantial resource with a well-balanced rare earth oxide distribution. . .the company is able to produce a 43.6% total rare earth oxide mineral concentrate due to the deposit's simple mineralogy, allowing significant cost reductions. . .Blue River is compelling in its own right. . .Commerce is a stock of interest on the merit of Ashram alone."

Stephan Bogner, Rockstone Research Ltd. (4/23/14) "Commerce Resources Corp.'s Ashram deposit is my top pick for success in the rare earth element (REE) space. . .due to its proven REE mineralogy and demonstrated mineral processing (>40% TREO mineral concentrate achieved), good grade, high tonnage, well-balanced REO distribution focused on the critical rare earth elements, favorable economics, good jurisdiction and a reasonable infrastructure development plan. I consider the Ashram deposit to be the most balanced of any REE deposit in development, an overall quality I feel will be critical to the successful advancement of the project."

Stephan Bogner, Rockstone Research Ltd. (4/3/14) "Commerce Resources Corp. is focused on the development of its Ashram REE deposit in Quebec and the Upper Fir tantalum and niobium deposit in British Columbia. Since December 2013, the share price has risen from $0.055 to $0.15, and the company just completed a $2.54M financing with Secutor Capital Management. . .Commerce has just begun a drill program at Ashram [to] increase the confidence level of existing resources from the current Inferred category to the Indicated and/or Measured categories. . .the company is our top-pick in the rare earth space; we are confident that the Ashram deposit will be put into production."

The Mining Report Interview with Stephan Bogner (4/1/14) "Commerce Resources Corp. is our favorite company in the REE space. That stock has more than doubled since December. . . It is in the prefeasibility stage. The company is looking for a partner that is capital-strong before it takes the next risks and brings the Ashram project into production. I have no doubt at all that Commerce will find a partner and that Ashram will be among the next development projects to be put into production." More >

Stephan Bogner, Resource Investor (1/30/14) "Commerce Resources Corp. reported an intriguing new discovery on its Eldor rare earth property in Quebec yesterday, announcing high tantalum-niobium grade boulders that rank impressively against other top deposits worldwide. . .the results are encouraging to say the least, and we believe the potential of these results should be pursued."

The Mining Report Interview with Luisa Moreno (1/28/14) "I think Commerce Resources Corp.'s recent Ashram deposit results are very positive. Being able to produce a mineral concentrate 43.6% TREO usually means using less reagents in the next processing step. . .the next step is to produce, for instance, a mixed REE carbonate product. Individual REEs may then be recovered in a separation plant (e.g. by solvent extraction). I noticed that in the production of the mineral concentrate, Commerce introduced what is described as a weak HCl step after floatation and before the magnetic separation. We don't yet know the cost benefit of using a leaching step before magnetic separation. I am sure we will learn more when the new economic study results are released, giving investors a better idea of the economics of Commerce's Ashram project. It seems that the company is happy about the project's metallurgical improvements and the impact on operating and capital costs, which is encouraging." More >

The Gold Report Interview with Stephan Bogner (12/16/13) "Zimtu management is also behind Commerce Resources Corp., a development company with two advanced-stage REE deposits in Canada. I'm very bullish on REEs. Commerce has two projects, the Ashram REE project and the Blue River tantalum and niobium project. The Ashram REE project is remarkable because 1) it has a huge resource, 2) it has high grades, 3) it has a unique distribution with competitive grades of the most highly in-demand elements namely neodymium, europium, dysprosium, yttrium and terbium, and most important, 4) it is hosted by the three minerals that completely dominate current commercial production globally: bastnaesite, monazite and xenotyme. All of the first three (very positive) points are subservient to the fourth and most important point—that really only these three minerals are processed commercially.

"The capex for Ashram is CA$763M, so it must find a strategic partner. This is only a matter of time because I believe the REE market will soon escalate. Commerce has a new set of drilling and metallurgical results that also will be released shortly, and I am positive that this will revive the stock and bring in a strategic partner, likely from Asia. The Blue River tantalum and niobium project is the world's largest production scenario, cash positive, for tantalum. The Upper Fir capex is only CA$379M and in the last six months Commerce has increased the resource by over 30% and the recovery rate by 15% over the amounts used as the basis for the completed preliminary economic assessment." More >

The Gold Report Interview with Leonard Melman (11/6/13) "There is Commerce Resources Corp. and its parent company, Zimtu Capital Corp. Commerce's big rare earth project, Ashram, is in northern Quebec. . .Ashram itself appears to have real merit, just like Commerce's Blue River tantalum-niobium project in British Columbia. I like Commerce, and I think the world of the people who run it. This is a company that could use a real break in the junior sector." More >

The Metals Report Interview with Alex Knox (7/16/13) "Commerce Resources Corp. has a large carbonatite-hosted deposit in the Labrador Trough in northern Québec. The company is doing a low-cost drilling program this summer to upgrade its resources. This carbonatite deposit contains substantial, separate showings of high-grade niobium and tantalum. The property could produce both elements from the same carbonatite, thus getting byproduct credits in through the back door. Even though this is an LREE deposit, it has zones enriched in the mediums and heavies. The potential production of niobium, tantalum and even other minerals makes this an attractive carbonatite deposit. My role this summer will be to help Commerce Resources explore and to work on the niobium and tantalum zones." More >

The Metals Report Interview with Lisa Reisman (6/4/13) "Commerce Resources Corp. is extremely close to production this year or next. It is probably at the point where it is doing offtake agreements. . .Commerce is targeting 2014 for production at its Blue River tantalum and niobium project. It made the shift from being institutionally focused to being more end-user focused. It is trying to better understand who the big players are in the North American market and tying those relationships together. It is more visible to end users. It used to only be at rare earth metal conferences, but now I'm seeing it at places where end users of tantalum are." More >

The Gold Report Interview with Leonard Melman (3/6/13) "When we talked last time I spoke about Commerce Resources Corp. and Zimtu Capital Corp., which both share the same president. I just met with Chris Grove, a director at Commerce. Chris was telling me that Commerce has completed PEAs on both its tantalum project at Blue River, British Columbia, which is tantalum and niobium, and its REE project in Northern Québec, the Ashram project, also known as the Eldor project. The next goal is to advance metallurgical studies on those projects. That work is underway at the moment so within whatever cash constraints are evident in the industry the company is still moving forward. The fact that Commerce has achieved two PEAs on widely separate projects is a very positive feature. It could conceivably make the company very attractive to end-user companies, which currently rely on China for rare earth elements. China appears to be very shaky looking forward as a source for those materials. Companies will be looking for North American sources and I think Commerce could be sitting the right position." More >

The Metals Report Interview with Alex Knox (1/22/13) "Commerce Resources Corp. has developed a large deposit of REEs, extremely large in the Indicated category. Commerce might like to get a partner. It is a skilled fundraiser and explorer, but it may not want to become a producer. That requires different skills from management and the staff. It has ongoing plans to continue to do definition drilling on its deposit and bring the resources to higher categories. It did take a large, many-ton bulk sample in the summertime, which it is going to use to develop its metallurgical spreadsheet." More >

The Gold Report with Leonard Melman (12/26/12) "Commerce Resources Corp. is unique in that it has two specific projects with preliminary economic assessments. It has the Blue River tantalum-niobium project in British Columbia and a rare earth element project called Eldor in northern Québec. Each project appears to be capable of standing on its own merits; the company is attracting interest from potential end-users and possible joint venture partners. The price of the shares has come down recently, but I believe it's reached the point where the potential rewards truly outweigh the risks." More >

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