Resource World Magazine

50 www.resourceworld.com A U G U S T / S E P T E M B E R 2 0 1 7 RARE EARTHS NOVEL One of the attendees at the Argus Americas Rare Earth Summit was author Ann Bridges who recently published a novel about rare earths entitled Rare Mettle which Dr. Robert Latiff, retired Major General of the United States Air Force describes as '…a gripping fictional account of a serious, real-world problem…" In her novel, Ann Bridges exposes the potential devastation of a Western world reliant on Silicon Valley technology, and ultimately taken hostage by a Chinese embargo of rare metals crucial to sustain- ing our way of life – and how we defend it. If it is not at your local major book seller, it is available in both paperback and ebook versions through Ingrams Distribution Services and Amazon. RARE EARTHS EXPLORATION, PRODUCTION & TRADING While there are actually over 200 rare earths-bearing minerals, only three dominate commercial extraction: mona- zite, bastnasite, loparite plus xenotime (yttrium/dysprosium). Canada Rare Earth Corp. [LL-TSXV; RAREF-OTC] operates a rare earth con- centrate trading business. Tracy Moore, CEO, explains, "We have now completed the purchase and sale of 301 tonnes of concentrate with increasing momentum: 6 tonnes in the December 31, 2016 quarter; 25 tonnes in the March 31, 2017 quarter; and so far 270 tonnes in the quarter to end June 30, 2017." The company has also completed the purchase and sale of 90 tonnes that are related to but separate from the purchase and sale of 180 tonnes that alone generated proceeds of $386,000 as announced on May 2, 2017. A further 375 MTs of concentrate is on schedule for purchase and sale in June that, if completed, would result in 645 tonnes of concentrate transacted in the June 30, 2017 quarter. Peter Shearing, COO, said, "We have developed a solid working relationship and system with the supplier announced in September 2016 with an understanding of transacting 16,500 tonnes over a 36-month period. Additionally, we are in discussions with a number of prospective suppliers to augment the supply required to meet the demands of our customer base." Commerce Resources Corp. [CEE- TSXV; CMRZF-OTCQX; D7H-FSE] has developed significant REE resources at its Ashram deposit on the Eldor property in the Labrador Trough of northern Québec. An economic evaluation, based on a March 2012 resource estimate, used a base case geologic cut-off grade of 1.25% total rare earths oxides (TREO) and provided 1.59 million tonnes averaging 1.77% TREO of measured resource, 27.67 million tonnes averaging 1.90% TREO of indicated resource, and 219.8 million tonnes averag- ing 1.88% TREO inferred. Recently, Commerce executed a memo- randum of understanding with Ucore Rare Metals Inc. [UCU-TSXV; UURAF- OTCQX] to integrate feedstock from Commerce's Ashram deposit with Ucore's REE separation facility and strategic met- als complex. Commerce will provide mixed rare earth carbonate concentrate suf- ficient to perform bench and pilot-scale testing of metallurgy and metal separa- tion metrics of the prospective feedstock. Bench work will be conducted by IBC Advanced Technologies of American Fork, Utah, with pilot-scale test work expected to take place at the SuperLig-One MRT (molecular recognition technology) pilot facility in Vineyard, Utah. The objective of the test work is to complete a definitive assessment of the suitability of the Ashram concentrate as potential feedstock for the strategic metals complex, with a view to a subsequent long-term supply partnership and off-take relationship. Matamec Explorations Inc. [MAT- TSXV; MHREF-OTCQB] has been advancing its Kipawa heavy rare earths project 140 km south of Rouyn-Noranda, Québec. The company has been selectively mining, as well as conducting beneficia- tion studies, hydromet, purification and separation tests, environmental studies and has designed a second demonstration pilot plant. Matamec has also partnered with leading universities and research cen- tres to improve project efficiency. Kipawa is a joint venture owned at 72% by Matamec and 28% by Ressources Québec (acting as agent of the Government of Québec); Toyota Tsusho Corp. (Nagoya, Japan) holds a 10% royalty on net profit in the deposit. Geomega Resources Inc. [GMA-TSXV; GOMRF-OTC] is developing the 100%- owned Montviel Rare Earths Elements/ Niobium project about 100 km north of Lebel-sur-Quévillon, Québec. Indicated resources (Pr 2 O 3 , Nd 2 O 3 , Eu 2 O 3 + Nb 2 O 5 ) are 82.4 million tonnes at 1.51% TREO + nio- bium. Inferred resources are 184.2 tonnes of 1.43% TREO + niobium. These resources also include a dysprosium zone with indi- cated resources of 0.37 million tonnes and New African rare earths mine opening RAINBOW RARE EARTHS [RBW-LSE] hosted His Excellence The President of the Republic of Burundi and other notable guests at an inauguration ceremony for its Gakara Rare Earths Project on July 21. Guests attended a series of speeches and tradi- tional Burundian cultural celebrations in the town of Mutambu, near Rainbow's first mining area at Gasagwe, where first production and sales of rare earth concentrate is targeted for Q4 2017. Eales said, "Gakara is the most advanced mining development project in Burundi and Rainbow was pleased to welcome so many honoured guests to our ceremony. We value highly all of the support we received from the Government of Burundi and the local population." Gakara, which operated for 30 years until 1978, hosts lanthanum, cerium and neodymium with in-situ grades 47-67% Total Rare Earth Oxides (TREO). First production and sales will be to offtake partner, Thyssenkrup Raw Materials. CapEx was only $2.23 million.

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