Commerce Resources transitions to growth under new leadership of mining veteran Ross Carroll
Disseminated on behalf of Commerce Resources Corp. and Zimtu Capital Corp.With Chris Grove at the helm, Commerce Resources Corp. has developed Ashram into the largest rare earth and fluorspar deposit in the Western Hemisphere, setting it up to be one of the lowest-cost rare earth producers globally. After an extensive global search for a leader to guide the company‘s next growth phase, the highly experienced resources executive Ross Carroll was announced recently as the new President and CEO. He also joins the company‘s Board of Directors. Chris Grove has resigned as President, CEO and Director, and will become the company’s Director of Corporate Development, assisting Ross Carroll with his vast knowledge of the Ashram Project and critical minerals landscape in North America.
As Commerce Resources is gearing up to dual-list on the Australian Securities Exchange (ASX), Melbourne-based Ross Carroll will expand the company‘s horizons beyond the TSX Venture Exchange while simultaneously ramping up discussions with the Québec Government. Canadian-listed companies heading Down Under for a secondary listing on the ASX not only seek a possible uptick in value through an expanded shareholder base in “a more liquid, more highly-valued and more broadly-followed market“, but more importantly, to access larger pools of capital for financing mine development projects, particularly in energy transition metals like rare earths and lithium.
Commerce Resources is engaged in the business of acquiring, exploring, developing and evaluating mineral resource properties, and either joint venturing or developing these properties further or disposing of them when the evaluation is completed. Co. is in the exploration stage and has interests in properties located in British Columbia and Quebec, Canada. The recoverability of amounts shown for resource properties is dependent upon the discovery of economically recoverable reserves, continuation of Co.'s interest in the underlying mineral claims, the ability of Co. to obtain financing to complete their development, and future profitable production or disposition thereof.
Rockstone is a research house specialized in the analysis and valuation of capital markets and publicly listed companies. The focus is set on exploration, development and production of resource deposits as well as marcoeconomic analysis of commodity and currency markets. Our international team of five analysts bring our German and English speaking readership a wealth of experience from the commodity markets: Stephan Bogner (mining analyst), John P. Barry (professional geologist), Chris Berry (macroeconomist), Prof. Dr. Hans Bocker (award-winning book author), and Boris Gerjovic (fundamental analyst).
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