Issue link: http://resourceworld.uberflip.com/i/638235
f e b r u a r y / m a r c h 2 0 1 6 www.resourceworld.com 19 Also, by dividing the property into North and South project areas, the hydrometallurgical processing would be more cost- effective if located closer to existing infrastructure rather than being processed at the mine site. Commerce is comfortable with the cost of building a haul road to transport mineral concentrate from the mine north to the coast or south to existing infrastruc- ture as part of the expenditures laid out in the existing PEA. They are also confident that Québec's Plan Nord will include much of the highly prospective surrounding area in their infrastructure development plans. Ten different metallurgical studies have now been completed with each one more impressive than the last. Most recently, REE recoveries have increased from 71% to 76% while maintaining a grade of greater than 40% TREO. In addition, a secondary leach has been eliminated simplifying the leaching process. With strong metallurgical results and all the data for a pre-feasibility study in place, Commerce has begun producing samples from their pilot plant for potential clients throughout the world. There is much about rare earth deposits that makes analysis more difficult than for other mineral type deposits. The simple fact that so few producing REE mines exist in the world indi- cates a shortage of expertise in the mining of up to 16 different rare earth elements – each with their own supply and demand fundamentals. To date, the Ashram deposit has developed on its tangible data benefiting from a well-balanced combination of simple mineralogy, tonnage, grade, REE distribution, econom- ics, jurisdiction, and infrastructure putting it at the forefront of newly emerging REE deposits throughout the globe. n The above article was written by Barry Muir who is a registered Investment Adviser with Haywood Securities Inc. a Canadian based independent, full‐service investment firm and member of the Canadian Investor Protection Fund. The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advi- sors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. The information contained in the reports have been compiled from sources Haywood believes are reliable; however, Haywood makes no guarantee, representation or warranty, expressed or implied, as to such information's accuracy or completeness. The views expressed are those of the author and not necessarily Haywood Securities Inc. All opinions and estimates contained in the reports are based on assumptions the author believes to be reasonable as of the dates of the reports but are subject to change without notice. Either the author, Haywood Securities Inc. or its employees may from time to time hold or transact in the secu- rities mentioned. Barry can be reached at (604) 697-6172 or bmuir@ haywood.com