Commerce Resources (TSXV:CCE) Receives Updated Buy Recommendation from Fundamental Research - Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, September 19, 2011 - Fundamental Research analyst
Siddharth Rajeev has updated his speculative buy recommendation on Commerce
Resources (TSXV:CCE).
InvestmentPitch.com has produced a "video news alert" based on the Fundamental
Research report. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "Commerce Resources" in the search box.
Based on new drill results, Fundamental gives Commerce Resources a fair estimate
valuation of $2.00 per share, well above the current market price of $0.50.
The company completed the winter/spring drilling program at the Ashram Zone, a
rare earth element deposit at the Eldor project in northern Quebec. The 3,600
metres of drilling approximately doubled the size of the area and depth of known
mineralization that was used to calculate the initial 43-101 resource estimate.
The initial resource estimate, which is available on www.sedar.com, reported
117.34 million tonnes averaging 1.74% Total Rare Earth Oxide in the Inferred
Category. Based on that earlier resource estimate, Fundamental believes the rare
earth element resource located in the Ashram Zone is one of the world's largest
NI 43-101 deposits outside of China.
Of the 7 drill holes completed in the Ashram Zone, a couple were highlighted by
Fundamental. Of particular note is Hole EC11-053 which was located to target the
near surface middle and heavy rare earth oxides (MHREO) that were previously
encountered in the central northern area of the deposit. This hole intersected
2.06% Total Rare Earth Oxides (TREO) over a length of 344.49 metres, including
12.4% MHREO and as well as 21.1% Nd(2)O(3) (neodymium oxide) over 32.75 metres
at 1.37% TREO from 6.81 metres to 39.56 metres. The hole ended in
mineralization, suggesting the possibility for further depth expansion.
A further highlight is Hole EC11-048 which encountered REE mineralization over
its entire length of 586.92 metres returning 2.10% TREO, including an interval
of 36.99 metres of 3.00% TREO. The hole ended in mineralization when it reached
the maximum depth limitation of the drill.
Mineralization has now been confirmed over an area of 600 metres east-west, by
650 metres north-south, and to depths greater than 600 metres, and remains open
in every direction. Fundamental believes this drill program has approximately
doubled the size of the known mineralization used to calculate the initial
resource estimate.
Commerce recently commenced a summer drill program which aims to drill a total
of 7,500 metres. The company is also conducting metallurgical and environmental
studies with a view to producing an updated resource estimate and Preliminary
Economic Assessment in the future.
Commerce completed a $7.6 million financing in June, by issuing 10.4 million
shares at $0.73, and is in a solid cash position with almost $12 million in cash
and investments.
Commerce is also developing its Upper Fir Tantalum and Niobium Deposit in
British Columbia and the Carbo Rare Earth Project in Northern British Columbia.
For a more information on Commerce Resources, and to download a copy of the
Fundamental Research Report, please visit their website at
www.commerceresources.com, phone 604-484-2700 or email
cgrove(at)commerceresources.com.
InvestmentPitch.com is a multimedia company that provides a combined solution
for creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 19.09.2011 - 22:36 Uhr
Sprache: Deutsch
News-ID 67370
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