AISI304
6 years ago
CRE Corporate Update released on September 4, 2018
http://www.canadarareearth.com/article/corporate-update%C2%A0--august-31-2018-384.asp
Important achievements over the most recent two months include:
Strategic Relationship with Talaxis Limited
Our strategic and financing relationship with Talaxis Limited (“Talaxis”), a wholly owned subsidiary of the large Asian-based commodity trading company, Noble Group, continues to gain momentum on a number of fronts including:
building supply volumes from existing and prospective sources in Asia, Southeast Asia, North and South America, and Africa;leveraging the Noble Group’s global network of commodity providers; completing our first purchase from Talaxis
and simultaneously closing on the hedged sale to a major customer (scheduled for the week of September 3, 2018); and Talaxis acquiring an initial 3.4% equity position in the Company through the conversion of $300,000 of its debt into
shares and warrants.
Rare Earth Supply Chain
We currently have over 400 metric tons of inventory in our supply lines and a further 150 metric tons of raw materials about to enter the supply chain.
We recently completed the sale of a test order with a major North American based organization. We understand the results are favourable and are expected to lead to larger orders in the near future.
Rare Earth Production – Enhancement and Separation
We have two key initiatives underway for establishing proprietary enhancement and separation facilities:
Laos – we co-facilitated several tours by government officials and bureaucrats to a similar, existing refinery and continued to exert pressure on the approval process for the Laos refinery; and a new opportunity has been presented to us that
is similar to but larger than the Laos refinery and is scheduled for completion and commencement of operations in mid- 2019. We have commenced discussions. We are also in early stage discussions for two other proposed refinery projects.
Financing for Capital Projects and Working Capital
We continue to engage with and be pursued by prospective financiers in support of our capital projects and business initiatives. Financings would be completed at the project level.
AISI304
6 years ago
RAREF (CRE): revenues and cash flows are up
Financial Position
Our most recent published financial report indicate (rounded):
Current assets of $1,850,000 (primarily cash);
Current financial liabilities of $1,795,000 are comprised three main categories: accounts payable of $307,000; $800,000 due to Talaxis (of which $300,000 was subsequently converted to equity units); and deferred revenue which is not a financial liability. In effect, net financial liabilities total $807,000 and “adjusted” net working capital is $1,043,000;
Non-current liabilities of $950,000 is comprised of $700,000 due to Talaxis and $250,000 due to management under a long-term compensation arrangement;
Non-current assets are recorded at $140,000 for certain intangible assets acquired three years ago; and
During the recently completed year we reduced the carrying value of two assets: a prospective concentrate source in South America, and a 25 year land lease and related investment in gold, silver and copper properties. We remain hopeful about these assets but they are not part of our immediate focus.
Results of Operations
Our most recent published financial report indicate (rounded):
Trading revenues increasing significantly from $93,000 $1,756,000 over the past two years;
Gross profit (excluding amortization) averaged 13%;
Excluding three categories, expenses in each of the two most recently completed years were consistent at $210,000. The three exceptions were:
- Cost of sales increased from $114,000 to $1,649,000 reflecting the significant increase in sales volume and revenues;
- Consulting fees increased by $600,000 reflecting improving cash flows and a historical catch-up provision for management (of which $250,000 has been deferred until May 2019); and
- Share-based payments increased by $100,000 reflecting the options granted to directors, officers and consultants.
As noted above, we reduced the carrying value of two non-core investments ($1,701,000) made over three years ago.
In summary, net loss for the most recently completed year was $2,808,000, an increase of $2,493,000 compared to the preceding year. Yet, as shown below, we generated $56,000 from operations during the most recently completed year.
Cash Flows
Our cash position improved and increased significantly during the recently completed year:
We generated $56,000 of cash from operating activities (compared to using $433,000 of cash during the preceding year);
We generated $1,339,000 of cash from debt financing activities (compared to $161,000 during the preceding year);
We did not invest significantly in assets in the past two years; and
We ended the reporting period with $1,502,000 of cash.
AISI304
6 years ago
CRE Corporation Eyeing a Refinery in Southeast Asia
https://investorintel.com/sectors/technology-metals/technology-metals-intel/canada-rare-earths-eyeing-refinery-southeast-asia/
Vertical integration is the order of the day in the rare earth element (REE) space. The folding of many parts of the value chain into a single operation yields higher margins, more investor interest and greater overall impact resulting from exposure to the highest value market segments. This is particularly true for the REE market since China dominates processing and therefore commands the lion’s share of revenues (only four refineries of note exist outside China).
To this end, Canada Rare Earth Corp. (TSXV: LL) (“Canada Rare Earth”) has been eyeing a rare earth refinery in Southeast Asia and remains on the lookout for any other processing opportunities that may become available. Already an active seller of rare earth concentrates that it sources through joint ventures and rare earth oxides that it sources from an affiliated refinery, the company also owns a number of rare earth properties in Canada and is considering ownership participation in other countries, meaning that Canada Rare Earth is an unusual smallcap resource company in that it is already fully in business.
The company is now moving confidently into the most sought-after end of the market. Processing rare earths is the most challenging part of the chain and effectively functions as a very expensive wall between the miner and the end user. Canada Rare Earth’s strategy has evolved to focus on developing a vertically and horizontally integrated supply chain connecting miners to concentrators to separators and refiners of rare earths, selling to major international manufacturing companies and their supply networks.
Canada Rare Earth has been working to obtain the final permits that would allow the new refinery to commence operations, providing the full spectrum of rare earth products to companies looking to balance their primary rare earth products with an independent second source. Around 200 major companies worldwide are dependent on Chinese REE supply and are very much looking to diversify their inflows.
A third party paid a non-refundable fee of US$500,000 for the right to purchase a 50% interest in the refinery subject to the company exercising its option. The price and terms would cover all of Canada Rare Earth’s financial requirements, ultimately meaning that for no participation cost the company would get a 10% carried interest in a world-class, fully permitted rare earth refinery built by a proven and capable owner/operator.
Canada Rare Earth will retain the rights to provide concentrate to the refinery and to sell its products, but all interested parties will immediately proceed to prepare a definitive agreement and a shareholders’ agreement covering their respective rights and obligations. This rights agreements provides some independent assurance that the plant’s operating permits are not too far away.
The refinery is based on the design of the owner’s other successful operating facilities and is therefore capable of separating concentrate into the entire spectrum of commercially traded, light, heavy and critical rare earth elements to high levels of purity. The refinery is intended to become a core aspect of the company’s vertically integrated operations, and significant and sincere offtake interest has already surfaced.
When discussing company strategy, Tracy A. Moore, CEO of Canada Rare Earth, indicated that “the integration strategy and business is based on four pillars which all need to come together, namely;
1) Having a consistent and long stream supply of concentrate
2) Having a number of refineries or processing facilities
3) Ensuring long term, reliable customer offtakes
Financing
Canada Rare Earth has been working consistently on all of these key metrics simultaneously and today can boast a market cap of just under $10 million, is fully funded for the near term and has a decent chance of eating into China’s market share.
AISI304
6 years ago
InvestorIntel bets on Canada Rare Earth Corporation (RAREF)
https://investorintel.com/sectors/technology-metals/technology-metals-intel/2018-bet-canada-rare-earth-corporation/
My 2018 Underdog Bet: Canada Rare Earth Corporation
LARA SMITH | DECEMBER 20, 2017
For me, a small-cap can be considered an underdog if it trades cheaper than its peers for no real reason. Often, a lack of media coverage means there isn’t much worth talking about, but a decent look into Canada Rare Earth (TSXV: LL) (“CREC”) (OTC US: RAREF) reveals that this company is in very good health, having drastically improved its financials over the last year, and is looking forward to growing sales yet further through 2018.The company is developing an international integrated business within the global rare earth industry, and since it’s still early days, the immediate key focus is to generate revenues and positive cash flow from a variety of profit centres in the rare earth production and sales chain. This has been achieved this last year by sourcing, adding value and selling rare earths in all stages and forms. CREC is in the process of establishing its own mining, concentrating and refinery capabilities in addition to working with affiliated and third party organizations.
CREC released its interim financial statements, available on SEDAR, on November 27th, which demonstrated that management has been highly effective in regard to their corporate goals; comparing the six months ending September 30th in both 2016 and 2017, operating expenses and losses have each been reduced by around a third, and revenues have increased by a staggering 600%. Additionally, in the two months following September 30th, 2017, CREC has completed more than $250,000 of sales of rare earth products and is due to close an additional $160,000 before the end of the year.
With increasing levels of sales, consistent margins and strict attention to controlling costs, CREC has improved operational losses by $187,331 compared to the six-month period ended September 30th, 2016. The operating loss in the most recently completed six month period was $57,367 which included amortization of $9,947 and share based payments of $8,769. Net cash of $50,528 was generated from operating activities in the six months ended September 30, 2017, an improvement of $295,180 compared to the six months ended September 30, 2016.With such a good year under their belt, we can look forward to a confident advance of the company’s operational plans throughout 2018.
CREC is studying supply opportunities in over 10 countries to enhance the flow of rare earth materials to customers with increasing levels of demand while simultaneously developing concentrate enhancement and separation capabilities. Furthermore, the company will continue to develop its Red Wine Complex rare earth project in Labrador in order to gain a proprietary supply of ore, but CREC remains engaged in sourcing and processing rare earth materials in partnership with an existing designer, builder and operator of rare earth refineries.
In 2018, we can look forward to a continuing increase in the value of rare earth elements, particularly those critical to permanent magnets (neodymium / praseodymium), both of which CREC currently supply via their own trading platform amongst 14 other rare earth oxides. Wind farms and electric vehicles depend heavily on these two elements in particular, and China’s recent environmental crackdown has opened the door for new suppliers outside of China to enter the chain.Furthermore, CREC is currently working with a joint venture partner to procure and process a 50 tonne bulk sample from a resource in South America.
The activation of this site would be a major growth factor for the company in 2018, and the JV partner is currently preparing a permit application to allow mining and delivery of ore derived from the property. CREC’s 2017 was both great and unsung, but with a vertically and horizontally integrated business really taking shape, 2018 will be the year of boom for Canada Rare Earth Corp.
AISI304
6 years ago
CREC Receives a US$500k Fee for Optioning Certain of its Rights to Acquire a Completed Refinery
http://www.canadarareearth.com/article/crec-receives-a-us500k-fee-for-optioning--certain-of-its-rights-to-acquire-a-completed-refinery-380.asp
March 13, 2018
Canada Rare Earth Corp. (“Canada Rare Earth” or the “Company”)(TSX.V: LL) is pleased to announce entering into an agreement with an arm’s length party interested in acquiring a 50% equity position in a completed rare earth refinery and in other refineries that may become available to the Company (the “Rights Agreement”).
Canada Rare Earth’s Option
Canada Rare Earth has the option to acquire and become the legal, registered and beneficial owner, directly or indirectly, of a 60% undivided interest in a substantially completed rare earth refinery (the “Refinery”) situated in Southeast Asia as most recently disclosed in the news release dated September 6, 2017 (the “CREC Option”). Canada Rare Earth has been working to obtain final permits allowing the Refinery to commence operations. If and when the permits are issued Canada Rare Earth will have six months to exercise the CREC Option. Such permits have as yet not been issued.
The Rights Agreement
Pursuant to the Rights Agreement, the third party paid a non-refundable fee of US$500,000 for the right to purchase a 50% interest in the Refinery subject to the Company exercising the CREC Option. The price and terms would cover all of Canada Rare Earth’s financial requirements to exercise the CREC Option including the exercise price and the pro rata contribution to working capital. The end result would be Canada Rare Earth positioned, for no participation cost, with a 10% carried interest in a world-class, fully permitted rare earth refinery built by a proven and capable owner/operator.
Canada Rare Earth will retain the rights to provide concentrate to the Refinery to the full extent of the Refinery’s requirements and to sell products produced by the Refinery to the full extent of production. At this time, the Company has focused on permitting the Refinery and has not entered into agreements to supply concentrate to the refinery or sell products produced by the Refinery.
Other Related Matters
Canada Rare Earth, the third party and the current owner of the Refinery will immediately proceed to prepare a definitive agreement and a shareholders’ agreement covering their respective rights and obligations as co-owners of the Refinery and shall use their best efforts to finalize such agreement within 60 days of receipt of the operating permits. In the interim, the third party will continue with its due diligence procedures.
In the event the third party successfully exercises its right to acquire a 50% interest in the Refinery the third party will be granted a similar exclusive right for the next refinery available to CREC and if that right is successfully exercised then a similar follow on option would also be granted for subsequent refineries. There is no assurance that other refineries will become available to the Company.
In the event the Refinery is not permitted by August 31, 2018 then CREC shall grant the third party a similar option for the next available refinery optioned to CREC.
All costs and expenses (including, without limitation, the fees and disbursements of legal counsel, technical experts and due diligence) incurred in connection with this Agreement herein contemplated shall be paid and borne by the party incurring such costs and expenses.
Tracy A. Moore, CEO of Canada Rare Earth remarked: “Entering into this Rights Agreement provides some independent assurance that we are nearing the issuance of the operating permits. The successful permitting of and an ownership position in the Refinery is a fundamental step in our strategic plan to establish an independent rare earth supply network. Once permitted and operating, the Refinery will provide the full spectrum of rare earth products to companies looking to balance their primary source of rare earth products with an independent second source.”
Peter Shearing, COO of Canada Rare Earth explained: “The Refinery is based on the design of other successful operating facilities of the current owner and is therefore capable of separating concentrate into the entire spectrum of commercially traded, light, heavy and critical rare earth elements to high levels of purity. The Refinery is intended to become a core aspect in the Canada Rare Earth’s vertical integration strategy and operations. Significant and sincere interest has been generated from prospective purchasers for the Refinery’s products.”
On behalf of the Board
Tracy A. Moore, CEO and Peter Shearing, COO
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections. No assurance that the funding to purchase the Purchase Shares will be raised on reasonable terms or at all and there is no assurance that the permits will be issued in a timely manner or at all.”
For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tracy A. Moore
Chief Executive Officer
tmoore@canadarareearth.com
Peter Shearing
Chief Operating Officer
pshearing@canadarareearth.com
Tel: (604) 638-8886
Website: www.canadarareearth.com
AISI304
6 years ago
RAREF Financial Results for the 9-Months Ended 12/31/17
http://www.canadarareearth.com/article/canada-rare-earth-announces-financial-results-for-the-nine-months-ended-december-31-2017-379.asp
February 22, 2018
VANCOUVER, BRITISH COLUMBIA - Canada Rare Earth Corp. ("Canada Rare Earth" or the "Company") (TSX.V: LL) is pleased to announce the filing of the unaudited financial statements and related management discussion and analysis for the nine months ended December 31, 2017.
The financials and analysis can be found on our website (www.canadarareearth.com) and on SEDAR.com. They are summarized and highlighted as follows:
Canada Rare Earth generated revenues of $1,569,000 during the nine months ended December 31, 2017, a 10-fold increase over revenues generated during the entire year ended March 31, 2017 and a 14-fold increase over revenues generated in the comparable nine month period.
Salil Dhaumya, Chief Financial Officer of Canada Rare Earth explained: “With increasing levels of sales, maintaining margins and strict attention to controlling costs and cash expenditures we have improved our loss from operations by $81,000 compared to the nine-month period ended December 31, 2016. By setting aside three non-cash expenses (share based compensation, unrealized foreign exchange loss and amortization) our adjusted net loss for the nine months was $80,000 compared to an adjusted loss of $214,000 for the comparable nine month period.”
Mr. Dhaumya continued: “Subsequent to the December 31, 2017 quarter-end, we completed a convertible loan with Talaxis Limited as a component of the strategic partnership between the two companies which significantly enhanced the financial status of the Company. As a result of the convertible loan, $1,500,000 of cash has been injected into the Company of which $800,000 is repayable in January 2019 and $700,000 is repayable in January 2020 unless the loan is converted into shares and warrants. If the loan is fully converted and all warrants are exercised then a minimum additional amount of $900,000 would be injected into the Company.”
The Company used net cash of $35,000 from operating activities in the nine months ended December 31, 2017 an improvement of $270,000 from the nine months ended December 31, 2016.
A summary of the revenues and expenses for the nine months ended December 31, 2017 compared to nine months ended December 31, 2016 respectively is available on the hyperlink for this news release.
Tracy A. Moore, CEO of Canada Rare Earth explained, “Our recently announced financing and strategic relationship with Talaxis Limited is designed to augment our developing trading platform and provide the basis for cooperation in the development of supply chains in the rare earth industry. The terms and conditions include sourcing, processing and delivering rare earths, refinery facilities, financing capital expenditures and trade finance support.”
On behalf of the Board
Tracy A. Moore, CEO and Peter Shearing, COO
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections. No assurance that the funding to purchase the Purchase Shares will be raised on reasonable terms or at all and there is no assurance that the permits will be issued in a timely manner or at all.”
For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tracy A. Moore
Chief Executive Officer
tmoore@canadarareearth.com
Peter Shearing
Chief Operating Officer
pshearing@canadarareearth.com
Tel: (604) 638-8886
Website: www.canadarareearth.com
AISI304
6 years ago
CRE MOU for Financing&Strategic Arrangement with Talaxis Ltd
http://www.canadarareearth.com/crec-enters-into-memorandum-of-understanding-for-financing--strategic-arrangement-with-talaxis
Key Aspects of the Business and Financing Relationship
Canada Rare Earth and Talaxis have signed a Memorandum of Understanding (MOU) that sets out the proposed principles of a working relationship leading to cooperation in the development of supply chains in the rare earth industry. The terms and conditions are to be negotiated and included in subsequent definitive agreements which will detail arrangements regarding sourcing, processing and delivering rare earths, refinery facilities, financing capital expenditures and trade finance support. The MOU also includes provisions for the parties to negotiate terms upon which Talaxis may participate in the capital structure of CREC using hybrid capital solutions that include debt, equity stake and warrants.
The MOU also contains provisions for the parties to negotiate arrangements with respect to mid-stream processing, sourcing of rare earth concentrates, trading, logistics, representation and participation in respective technical and advisory boards.
Canada Rare Earth will be Talaxis’s preferred strategic partner with respect to midstream rare earth processing capabilities including but not limited to developing, acquiring, designing, building, managing and operating rare earth enhancement, separation and metal making facilities.
AISI304
6 years ago
Canada Rare Earth Corp. (RAREF) Senior Management Team
Tracy A. Moore, CEO & Director
Mr. Tracy A. Moore has over 20 years’ business, corporate finance and strategic and business planning experience having worked in over 15 countries, while based in Vancouver, Canada. He co-founded the rare earth business that is now known as “Canada Rare Earth”; he founded the MCSI Group of Companies in 1990; and he worked with three Canadian chartered accountant firms in the practice areas of corporate finance, restructuring, and audit assurance. In addition to his consulting practice he has owned and operated a variety of businesses. He has a bachelor of commerce degree from the University of British Columbia.
Peter Shearing, COO and Director
Mr. Peter Shearing has a significant background in operations and engineering in North America, Europe, and Asia and has been a director of Canada Rare Earth since 2012. Peter has widespread international business experience in high tech and contract electronics manufacturing having held senior executive positions in operational, technical and customer facing roles in companies such as Nortel and Breconridge Manufacturing. He served as an engineering officer in the Canadian Army, filling leadership and technical roles for over a decade. He continues to contribute technical and design leadership as Vice President of EchoTrack Inc., a privately held environmental monitoring technology company serving various industries including wind energy development. He earned his bachelor’s degree of engineering from the University of Western Ontario and his master’s degree of Engineering from the Royal Military College.
AISI304
6 years ago
Products: CRE (RAREF) provides customers with the ability to easily purchase a wide variety of rare earth products. Our products include high-purity simple oxides, nano and large particle rare earth products and custom products. These high-demand materials are used in a variety of industries, such as high-end electronics, lighting solutions, ceramics & glass, catalytic & cracking, magnets, and atomic energy. We offer the advantages of full-spectrum rare earth oxides, direct sales, and producer-direct prices.
For all of Canada Rare Earth's products, please go to http://www.canadarareearth.com/product-sales
Canada Rare Earth Corp. is an internationally operating company that is rapidly establishing a worldwide network of proprietary products through reliable business partners. Combining our international business partners with our team’s unparalleled experience in rare earth refining results in competitive pricing, high-purity and consistent quality products, and knowledge about trends and developments in the different market segments.
AISI304
6 years ago
RAREF Prospective Joint Venture to Mine and Process Rare Earths, Announced on Oct. 17 2017, Advances
http://www.canadarareearth.com/article/crec-advances-prospective-joint-venture-to-mine-and-process-rare-earths-as-announced-on-oct-17-2017-374.asp
December 4, 2017
Canada Rare Earth Corp. (“Canada Rare Earth“ or the “Company”)(TSX.V:LL) is pleased to announce that it has established an experienced team of technical and practical experts who are conducting analysis and testing to optimize the processing of material from the Property (as defined below). The experts are confident that an existing, proprietary processing technology and system can be applied to the material and implemented in a cost effective manner.
Final selection and implementation is subject to the results of bulk tests at existing commercial facilities that operate with similar processing systems and is also subject to agreement by the Company’s joint venture partner.
The joint venture partner is presently arranging for a 50 ton bulk sample to be delivered to the testing facilities. Concurrently, the joint venture partner is also proceeding with the preparation of permit application(s) to allow mining and delivery of ore derived from the Property.
The advanced, prospective rare earth property situated in South America (the “Property”) is owned outright by the joint venture partner.
Tracy A. Moore, Chief Executive Officer of Canada Rare Earth, explained, “our selection process included meetings, references and discussions regarding previously provided and analyzed samples of material gathered from the Property and of directly related experience of the selected experts. We are pleased that we were able to accomplish the identification and selection of what we believe is a unique, proprietary system suitable for the project at hand.”
The Company also announces that, subject to regulatory approval, as partial recognition of certain services and accomplishments 2,280,000 common shares are to be issued to members of management at a deemed value of $0.05 per share. The Company also announces the issuance of 7,975,000 stock options to directors, officers, consultants and advisory board members exercisable at $0.05 per share for five years.
On behalf of the Board
Tracy A. Moore, CEO and Peter Shearing, COO
ABOUT CANADA RARE EARTH CORP.
Canada Rare Earth is developing an international integrated business within the global rare earth industry. Our immediate key focus is to generate revenues and positive cash flow from a variety of profit centres in the rare earth production and sales chain by sourcing, adding value and selling rare earths in all stages and forms. We are in the process of establishing our own mining, concentrating and refinery capabilities in addition to working with affiliated and third party organization
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections. No assurance that the funding to purchase the Purchase Shares will be raised on reasonable terms or at all and there is no assurance that the permits will be issued in a timely manner or at all.”
For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.
AISI304
6 years ago
RAREF Announces its Financial Results for 6 Months Ended September 30, 2017
http://www.canadarareearth.com/article/canada-rare-earth-announces-financial-results-for-the-six-months-ended-september-30-2017-373.asp
November 28, 2017
VANCOUVER, BRITISH COLUMBIA - Canada Rare Earth Corp. ("Canada Rare Earth" or the "Company") (TSX.V: LL) is pleased to announce the filing of the unaudited financial statements and related management discussion and analysis for the six months ended September 30, 2017.
The financials and analysis can be found on our website (www.canadarareearth.com) and on SEDAR.com. They are summarized and highlighted as follows:
Canada Rare Earth generated revenues of $1,139,677 during the six months ended September 30, 2017, a 600% increase over revenues generated during the entire year ended March 31, 2017. Revenues in the three months ended September 30, 2017 exceeded revenues in the June 2017 quarter by 17% increase while maintaining margins.
With increasing levels of sales, consistent margins and strict attention to controlling costs we have improved our loss from operations by $187,331 compared to the six-month period ended September 30, 2016. The operating loss in the most recently completed six month period was $57,367 which included amortization of $9,947 and share based payments of $8,769.
The Company generated net cash of $50,528 from operating activities in the six months ended September 30, 2017, an improvement of $295,180 compared to the six months ended September 30, 2016.
A summary of the revenues and expenses for the six months ended September 30, 2017 compared to six months ended September 30, 2016 respectively and with greater detail is attached to this press release.
In the two months following September 30, 2017, we completed more than $250,000 of sales of rare earth products and we are in progress of closing additional $160,000 in the next two weeks.
Tracy A. Moore, CEO of Canada Rare Earth explained, “We are increasingly pleased with the trading platform we have developed and are continuing to build on. The trading activities consistently provide an increasingly significant and reliable contribution to our financial position.”
Salil Dhaumya, CFO of Canada Rare Earth added, “We are pleased with the results and we’ll continue to improve our gross margins. The management team has an unwavering commitment to increase shareholder value.”
Peter Shearing, COO of Canada added “We are studying supply opportunities in over 10 countries to enhance the flow of rare earth materials to our customers with their increasing levels of demand. Simultaneously we are developing our concentrate enhancement and separation capabilities.”
On behalf of the Board
Tracy A. Moore, CEO and Peter Shearing, COO
ABOUT CANADA RARE EARTH CORP.
Canada Rare Earth is developing an international integrated business network within the global rare earth industry. Our immediate key focus is to generate revenues and positive cash flow from a variety of profit centers in the rare earth production and sales chain by sourcing, adding value and selling rare earths in all stages and forms. We are in the process of establishing our own mining, concentrating and refinery capabilities in addition to working with affiliated and third party organizations.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.”
For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.
AISI304
7 years ago
CRE Completes Hedged Purchase&Sale Agreements, Enters into Additional Agreements
http://www.canadarareearth.com/canada-rare-earth-completes-hedged-purchase-and-sale-agreements-and-enters-into-additional-agreements
Quote:
May 2, 2017
Vancouver, BC – Canada Rare Earth Corp. (TSX.V: LL) ("Canada Rare Earth" or the "Company") is pleased to announce continuing and increasing momentum in its concentrate trading business.
Canada Rare Earth completed the purchase and sale of 180 metric tons of the 310 metric tons of rare earth concentrate announced on March 21, 2017 and, as a result, collected $386,000 of gross proceeds. The Company also recently collected $24,000 of fees generated from providing rare earth supply chain advisory services in the December 31, 2016 fiscal quarter. Costs associated with the completed sale total $335,000.
We expect to complete the purchase and sale of 90 metric tons of rare earth concentrate within two weeks.
The back order balance of 40 metric tons and an additional 350 metric tons of concentrate is scheduled for shipment in June 2017.
Peter Shearing, Chief Operating Officer of Canada Rare Earth explained, “These transactions are all part of the master agreement we announced on September 8, 2016 for a total of 16,500 metric tons over a 36 month period. We are pleased with the current momentum and acceleration under this arrangement as we now expect to exceed the 500 metric ton monthly target from this source.”
Tracy A. Moore, Chief Executive Officer of Canada Rare Earth remarked, “The quality of the concentrate meets and in some cases exceeds our requirements and importantly is to the specifications set by our client. We continue to seek additional sources of concentrate for immediate and longer-term purposes as our customer base is now requesting additional volumes of concentrate from us. The trading transactions are all profitable and contribute positive cash flow to our company.”
Financial amounts in this news release are stated in Canadian dollars.
On behalf of the Board
Tracy A. Moore, CEO and Peter Shearing, COO
ABOUT CANADA RARE EARTH CORP.
Canada Rare Earth is developing an international integrated business within the global rare earth industry. Our immediate key focus is to generate revenues and positive cash flow from a variety of profit centres in the rare earth production and sales chain by sourcing, adding value and selling rare earths in all stages and forms. We are in the process of establishing our own mining, concentrating and refinery capabilities in addition to working with affiliated and third party organization
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.”
For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tracy A. Moore
Chief Executive Officer
tmoore@canadarareearth.com
Peter Shearing
Chief Operating Officer
pshearing@canadarareearth.com
Tel: (604) 638-8886
Website: www.canadarareearth.com
AISI304
7 years ago
CRE Enters Second Set of Hedged Purchase&Sale Agreements
http://www.canadarareearth.com/canada-rare-earth-enters-into-a-second-set-of-hedged-purchase-and-sale-agreements
Quote:
March 23, 2017
Vancouver, BC – Canada Rare Earth Corp. (TSX.V: LL) ("Canada Rare Earth" or the "Company") is pleased to announce increasing momentum in its concentrate trading business.
The Company has entered into the next set of hedged contracts to purchase and sell 310 metric tons of rare earth concentrate with locked in gross profits. This volume of concentrate is twelve times the amount currently in international waters and scheduled to arrive at our customer’s selected port in early April, 2017.
Peter Shearing, Chief Operating Officer of Canada Rare Earth explained, “we are confident of the ongoing buying we have arranged and we are driving to secure immediate, dependable supply meeting the specified criteria (price, quantities and array of rare earths) in the order of 300 metric tons to 500 metric tons per month on an ongoing multi-year basis.”
Canada Rare Earth is also developing sources to supply medium and longer-term needs such as providing feedstock to the Company’s prospective proprietary rare earth processing plants. These facilities are designed to produce and supply high quality and high purity rare earth products such as individual oxides, metals and custom products especially to the non-China market.
Peter Shearing continued, “regarding the second set of contracts, 272 metric tons of concentrate are scheduled to leave the mine sites within seven days, be loaded on a vessel on April 7, 2017 and arrive at the ultimate buyer’s selected port in mid-May 2017. The balance of 38 metric tons is being completed and will be shipped near the end of April 2017 along with product for a third set of transactions we are negotiating with the same supplier.”
Tracy A. Moore, Chief Executive Officer of Canada Rare Earth remarked, “ we are thrilled with the trading momentum we have established so far and are building on it to establish a robust and consistent supply to our customer. The current set of orders will generate over $500,000 of revenues with determined gross profits and cash flow for our Company.”
On behalf of the Board
Tracy A. Moore, CEO and Peter Shearing, COO
ABOUT CANADA RARE EARTH CORP.
Canada Rare Earth is developing an international integrated business within the global rare earth industry. Our key focus is to generate revenues and positive cash flow from a variety of profit centres in the rare earth production and sales chain by sourcing, adding value and selling rare earths in all stages and forms. We are in the process of establishing our own mining, concentrating and refinery capabilities in addition to working with affiliated and third party organizations.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.”
For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tracy A. Moore
Chief Executive Officer
tmoore@canadarareearth.com
Peter Shearing
Chief Operating Officer
pshearing@canadarareearth.com
Tel: (604) 638-8886
Website: www.canadarareearth.com
AISI304
7 years ago
CRE Reports Annual General (w/Shareholders) Meeting Results
http://www.canadarareearth.com/canada-rare-earth-reports-results-of-annual-meeting
Quote:
March 21, 2017
Vancouver, BC – Canada Rare Earth Corp. (TSX.V: LL) ("Canada Rare Earth" or the "Company") is pleased to announce results of the annual general meeting held earlier today. All matters presented to our shareholders were overwhelmingly approved including the reappointment of Tracy A. Moore, Peter S. Shearing, Gordon J. Fretwell, Christopher Goodman, and William Purcell to the board of directors (the “Board”) and the addition of Mark Peters to the Board. Mark will also chair our audit committee.
Mark Peters is a Chartered Professional Accountant (CPA) with over 17 years experience in finance and taxation, working primarily with Canadian and US publicly trading and reporting corporations. He is the CFO of Hunter Dickinson Services Inc. (HDSI), a diversified global mining group with over 25 years success in mineral development. Mr. Peters is also CFO of Heatherdale Resources Ltd., a junior exploration and mining company with a copper-gold-zinc-silver asset in Alaska. Prior to joining HDSI, Mark worked at PricewaterhouseCoopers LLP in both the audit and tax groups.
On behalf of the Board
Tracy A. Moore, CEO and Peter Shearing, COO
ABOUT CANADA RARE EARTH CORP.
Canada Rare Earth is developing an international integrated business within the global rare earth industry. Our key focus is to generate revenues and positive cash flow from a variety of profit centres in the rare earth production and sales chain by sourcing, adding value and selling rare earths in all stages and forms. We are in the process of establishing our own mining, concentrating and refinery capabilities in addition to working with affiliated and third party organizations.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.”
For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tracy A. Moore
Chief Executive Officer
tmoore@canadarareearth.com
Peter Shearing
Chief Operating Officer
pshearing@canadarareearth.com
Tel: (604) 638-8886
Website: www.canadarareearth.com
AISI304
7 years ago
CRE Reports First Profitable Quarter (October-December 2016)
http://www.canadarareearth.com/canada-rare-earth-reports-first-profitable-quarter
Quote:
March 1, 2017
Canada Rare Earth Corp. (TSX.V: LL) ("Canada Rare Earth" or the "Company") reports financial results for the three and nine months ended December 31, 2016.
This release should be read with the Company’s Financial Statements and Management Discussion & Analysis ("MD&A"), available at www.canadarareearth.com and filed on www.sedar.com. Except where otherwise noted, all currency amounts are stated in Canadian dollars.
Tracy A. Moore, President and CEO of Canada Rare Earth, commented, “The increasing emphasis we are placing on trading activities is generating positive financial results. We are very pleased to announce that Canada Rare Earth generated net income of $12,211 for the three months ended December 31, 2016, an improvement of $265,504 over the comparative period.
The positive financial results are a result of generating $107,010 of revenues through two sales transactions and one business development activity. The size of the transactions is not necessarily indicative of future transactions or of the magnitude of profitability. We are considering each of the three transactions and business development activities, two transactions completed in the prior quarter, and one additional transaction (currently in progress) to be establishing the international logistical foundation for larger and more frequent transactions.”
Peter Shearing, COO of Canada Rare Earth added, “During the December 31, 2016 quarter and in the early part of 2017 rare earth prices have stabilized and we are seeing encouraging signs of price increases. Increases in rare earth prices will affect our trading activities in a positive manner but more importantly, higher prices will have a much greater positive impact on the projected financial results for the rare earth processing facilities that we have in various states of progress. Similarly, higher rare earth prices will also improve the financial returns for the Laos refinery that was the subject of our news release dated February 22, 2017. The positive momentum is very exciting and we are expecting a very successful year ahead.”
A summary of the financial results for the three and nine months ended December 31, 2016 with comparative figures for the prior fiscal periods is as follows: (see hyperlinked article for numbers).
On behalf of the Board
Tracy A. Moore, CEO and Peter Shearing, COO
ABOUT CANADA RARE EARTH CORP.
Canada Rare Earth is developing an international integrated business within the global rare earth industry. Our key focus is to generate revenues and positive cash flow from a variety of profit centres in the rare earth production and sales chain by sourcing, adding value and selling rare earths in all stages and forms. We are in the process of establishing our own mining, concentrating and refinery capabilities in addition to working with affiliated and third party organizations.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tracy A. Moore
Chief Executive Officer
tmoore@canadarareearth.com
Peter Shearing
Chief Operating Officer
pshearing@canadarareearth.com
Tel: (604) 638-8886
Website: www.canadarareearth.com
AISI304
7 years ago
CRE's Significant Progress in Permitting of Rare Earth Refinery
http://www.canadarareearth.com/article/significant-progress-in-the-permitting-of-the-rare-earth-refinery-361.asp
Quote:
February 22, 2017
Canada Rare Earth Corp. (“Canada Rare Earth” or the “Company”) (TSXV: LL) is pleased to provide an update on significant progress towards the permitting of the completed, full capability rare earth separation refinery located in Vientiane, Lao PDR (the “Refinery”) described in our news releases of May 9, 2016 and November 9, 2016.
On January 27th, our Chief Executive Officer and Chief Operating Officer conducted the 1st rare earth seminar ever held for the Lao PDR (“Lao”) government. The working session was sponsored by the Lao Ministry of Energy and Mines and was attended by senior representatives from all Lao government ministries and departments associated with the rare earth industry including those involved with the approval process leading to the issuance of the final operating permit and then monitoring ongoing operations of the Lao Refinery.
This working session was, in part, a result of visits to Lao by the Canadian Minister of Foreign Affairs, the Honourable Chrystia Freeland and the former Minister of Foreign Affairs, the Honourable Stephane Dion who discussed the Refinery, among other topics, with Laotian government officials in September 2016.
The Canadian Ambassador, Donica Pottie, and other senior representatives of the Canadian Embassy responsible for the Lao People’s Democratic Republic were also in attendance at the session, as was the independent environmental consultant who has studied the Refinery over a period of two years and performed the project’s Environmental and Social Impact Assessment.
The seminar was part of Canada Rare Earth’s collaboration with the Lao government for the development of the rare earth industry within their country. Participants engaged in a wide reaching and detailed discussion of the rare earth industry and the Refinery, in particular.
Importantly, the Company emphasized three key aspects of its permitting strategy:
informing and providing insights to the Laotian government regarding rare earths and related processing;
branding the Lao Refinery in a “Canadian manner” from environmental, social license and transparency perspectives; and
emphasizing the use of pre-treated, enhanced concentrate for the Lao Refinery.
The three key aspects of our strategy were well received by the participants.
The session also specifically provided a detailed view of the Refinery, its production processes and its significant and unique advantage of being the most recently constructed refinery capable of producing both heavy and light rare earth oxides (“REOs”) outside of China.
Other topics included an introduction to the global market for rare earths including rare earth applications; the technical and efficiency benefits derived from rare earths; global market demand and future growth; the various mineral sources of rare earths; the production process of rare earth oxides; and associated environmental protection measures.
A large part of the discussion focused on the recently introduced plan of using a pre-treated, enhanced, concentrate from which both thorium and uranium are removed at a different location. Peter Shearing, Canada Rare Earth COO said, “With the newly introduced plan of using a concentrate pre-treated to remove thorium and uranium the Refinery is generally similar to other chemical processing facilities in Lao which are fully permitted, operational and expanding. Therefore we believe there are no technical barriers to successful permitting.” The use of enhanced concentrate addresses the most difficult issues confronting the Lao government.
Canada Rare Earth’s CEO, Tracy A. Moore, explained, “the depth of the questioning and interaction at the seminar was very impressive and reinforced our confidence in the permitting process. We found the engagement was very encouraging and provided a very positive sign that attendees from the Lao government are enthusiastic to learn about rare earths and the significant economic benefits that the Refinery can bring to Lao.”
The Refinery is based on the design of other successful operating facilities and is therefore capable of separating concentrate into the entire spectrum of commercially traded, light and heavy rare earth elements to high levels of purity. The Refinery is intended to become a core aspect in the Canada Rare Earth’s vertical integration strategy and operations. Significant and sincere interest has been generated from prospective purchasers for the Refinery’s products. Once operational the Refinery will produce approximately 2.5% of the global supply of rare earth oxides.
A follow-up session is being planned for March 2017 involving Canada Rare Earth, key members of the relevant Lao Ministries, including the Ministry of Energy and Mines, and the Canadian Embassy. Both Canada Rare Earth and current Refinery owner consider the rare earth working session a successful step in the permitting process and are presently revising the purchase agreement to fit with a revised schedule for receiving the final operating permit.
On behalf of the Board
Tracy A. Moore, CEO and Peter Shearing, COO
ABOUT CANADA RARE EARTH CORP.
Canada Rare Earth is developing an international integrated business within the global rare earth industry. Our key focus is to generate revenues and positive cash flow from a variety of profit centres in the rare earth production and sales chain by sourcing, adding value and selling rare earths in all stages and forms. We are in the process of establishing our own mining, concentrating and refinery capabilities in addition to working with affiliated and third party organizations.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tracy A. Moore
Chief Executive Officer
tmoore@canadarareearth.com
Peter Shearing
Chief Operating Officer
pshearing@canadarareearth.com
Tel: (604) 638-8886
Website: www.canadarareearth.com
BottomBounce
7 years ago
$RAREF Canada Rare Earth Corp., a development stage company, engages in the exploration, development, processing, and sale of rare earth elements. The company holds various exploration properties located in Canada, as well as has optioned a prospective rare earth property situated in Brazil. Its products include high-purity rare earth oxides, rare earth fluorides, larger particle/nano rare earth oxides, and other products. The company was formerly known as Rare Earth Metals Inc. and changed its name to Canada Rare Earth Corp. in February 2013. Canada Rare Earth Corp. was incorporated in 1987 and is headquartered in Vancouver, Canada. http://finance.yahoo.com/quote/RAREF/profile?p=RAREF
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