The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
AVL: TSX
President and CEO: Donald S. Bubar, M. Sc., P. Geo.
Vice-President, Finance and CFO: R.J. (Jim) Andersen, CA, CPA, CFP
Vice-President, Exploration: William Mercer, Ph.D., P. Geo.
Formed in 1991, Avalon Rare Metals is a mineral exploration and development company primarily focused on the rare metals and minerals that are in increasing demand for environmentally-beneficial high technology applications. These include lithium, tantalum, cesium, indium, gallium as well as rare earth elements such as neodymium, dysprosium and terbium, and rare minerals such as calcium feldspar.
Avalon's strategy for growth is to develop its rare metals and minerals projects to production and cash flow, expand the markets for these materials and acquire additional compatible rare metals assets.
The company is in the process of exploring or developing three of its six mineral resource properties.
All active projects (Thor Lake, Separation Rapids and East Kemptville) are rare minerals or rare metals properties that are at an advanced stage with identified mineral resources that are potentially economic, provided that sales contracts with customers can be secured and project financing arranged.
Thor Lake is the company's top priority and most advanced project.
It is located 100 kilometers, or 62 miles, southeast of Yellowknife.
In June, Avalon reported that the Nechalacho deposit ranked as the second-largest REE deposit in the world by reported TREO and the third-largest contained niobium deposit in the world by reported Nb2O5.
A positive preliminary feasibility study also concluded that the Nechalacho deposit had defined two layers of substantial REE mineralization, known as the Upper and Basal zones.
In addition to calculating REE reserves and resources in the two zones, the PFS also recommended that Avalon advance the Thor Lake project to the feasibility study stage and continue with project permitting.
The explorer proposed spending C$43.5 million to advance the project, including C$19.5 million for exploration, upgrade drilling and geology.
Cash and short-term deposits: Cash and cash equivalents: C$10.52 million (May 31, 2010)
Working capital: C$10.68 million (May 31, 2010)
Market capitalization: C$261 million
(Sept. 6, 2010)
Suite 1901 - 130 Adelaide St. West
Toronto, ON Canada M5H 3P5
Tel: 416 364-4938 Fax: 416 364-5162
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