Canada Rare Earth – In the Business of Rare Earths – February 2019 Corporate Update
28 Februar 2019 - 2:45PM
Canada Rare Earth Corp. (“Canada Rare Earth” or the
“Company”) (TSX.V: LL) is developing an international
supply chain business based on our commodity-trading platform and
existing, developing and planned processing facilities.
Tracy A. Moore, Chief Executive Officer of Canada Rare Earth
explained, “We are achieving great strides in our international
supply chain business. Our proprietary sources of supply are
forming through joint ventures and partnerships while we are
expanding and diversifying sources from independents and agents.
With increased security of supply we are placing even greater
emphasis on processing facilities and operations particularly in
South America and Southeast Asia. The facilities increase our
options of selling supply on an as is basis or selling value-added
products for greater returns. Our customer base is solid and
expanding and is encouraging us to accomplish more, faster.”
Peter Shearing, Chief Operating Officer of Canada Rare Earth
continued, “With our expanding supply base and with our ability to
deliver appropriate processing systems and know-how we are
presented with an increasing number of additional opportunities to
purchase supply and to participate in value-add processing. Our
team is focusing on an expansion track to take advantage of the
momentum we have created.”
Highlights of our recent focused, high priority activities
include:
- $2.5 million of revenues during the two years ended December
31, 2018;
- Revenues in the current quarter expected to exceed average
levels by a substantial margin;
- Our customer base requesting much greater volumes from us;
- Our product supply is increasing from an expanding base of
independent and agent sources;
- We are developing our own proprietary sources through
arrangements such as the two announced in February 2019;
- We are securing value-add processing facilities through
acquisitions, joint ventures and development; and
- Gross profits averaging 12.5% of revenues during the two years
ended December 31, 2018 before considering finder’s fees, royalties
and amortization.
Other recent activities include:
- Considering complementary supply sources in Asia, Southeast
Asia, North and South America, and Africa;
- Continuing to work on the final operating permit for the Laos
refinery; and
- Discussing participation in a refinery currently under
construction.
About Canada Rare Earth Corp.
Canada Rare Earth is generating revenues and gross profits as we
develop our integrated supply chain business based on the rare
earth industry and with increasing attention directed to valuable
by-products. Our business involves sourcing, adding value and
selling rare earths and other mineral products in all stages and
forms utilizing proprietary, affiliated and third party sources and
facilities.
On behalf of the Board
Tracy A. Moore, CEO and Peter Shearing, COO
Neither 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. Forward-looking statements in this
release are made pursuant to the ‘safe harbour’ provisions of the
Private Securities Litigation Reform act of 1995. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tracy A. MooreChief Executive
Officertmoore@canadarareearth.com |
Peter ShearingChief Operating
Officer pshearing@canadarareearth.com |
|
Tel: (604)
638-8886Website: www.canadarareearth.com |
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