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15/12/2011

Avalon Rare Metals CEO says feasibility study on target for late 2012

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Additional Information
Market: TSX
Sector: General Mining - Rare Earth Minerals
EPIC: AVL
Latest Price: C$1.50  (-0.33% Descending)
52-week High: C$7.56
52-week Low: C$1.44
Market Cap: C$154.26M
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Avalon Rare Metals
www.avalonraremetals.com

Avalon Rare Metals Inc. (TSX & NYSE Amex: AVL) is a mineral exploration and development company focused on rare metals deposits in Canada. Its flagship project, the 100%-owned Nechalacho Deposit, Thor Lake, NWT, is emerging as one of the largest undeveloped rare earth elements resources in the world. Its exceptional enrichment in the more valuable 'heavy' rare earth elements, which are key to enabling advances in green energy technology and other growing high-tech applications, is one of the few potential sources of these critical elements outside of China, currently the source of 95% of world supply. Avalon is well funded, has no debt and its work programs are progressing steadily. Social responsibility and environmental stewardship are corporate cornerstones. Avalon's performance on community engagement in the north earned it the 2010 PDAC Environmental and Social Responsibility Award.

 

Full Avalon Rare Metals profile here
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Avalon enters negotiations with First Nations group on Thor Lake

17th Jun 2011, 8:05 pm by Brad Lemaire

Rare metals-focused mining and exploration company, Avalon Rare Metals (TSE:AVL) (AMEX:AVL) announced Friday it has entered into negotiations with the Lutsel K’e Dene First Nations community regarding developments on the company’s Thor Lake property.

The Lutsel K’e Dene First Nation resides 100 kilometres east of Thor Lake, in the Northwest Territories, which is within Lutsel K’e traditional territory. Avalon’s discussions with the community are regarding the development of the Nechalacho rare earth elements deposit, which is known for its enrichment in the more valuable heavy rare earths, at the company’s wholly owned Thor Lake site.

The negotiations will outline broad principles for co-operation, Avalon said, and will provide a structure for the Accommodation Agreement, which outlines the adverse impacts of project development and defines the benefits to both parties involved, among other things.

Avalon said it hopes to conclude the agreement by the end of the year.

“We have already established strong business relationships with the Lutsel K’e Dene First Nation and we are very pleased to have reached initial agreement on how we can further build and strengthen these relationships,” said Avalon president and CEO, Don Bubar.

Based in Toronto, Ontario, Avalon saw its stock jump 0.66% on the NYSE Amex Exchange, trading at $6.13.

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