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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  (0,00%)
52-week High: C$7.56
52-week Low: C$1.44
Market Cap: C$154.78M
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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 closes public offering, raises $44 million

5th Aug 2011, 5:19 pm by Olivia D'Orazio

Avalon Rare Metals (TSE:AVL) reported on Wednesday it has closed its previously announced public offering, raising $44 million.

Toronto-based Avalon Rare Metals sold 7.69 million shares for US$6.15 per share, or C$5.81 per share, which includes 592,000 shares issued pursuant to the partial exercise of the underwriters’ option to buy an extra one million shares at the offering price to cover over-allotments.

The initial offering, which Avalon announced on July 26, was set at seven million shares. The offer was increased to 7.1 million shares on July 27, set at a price of US$6.15 per share, or C$5.81 per share. 

The company, whose peers include Molycorp, Inc. (NYSE: MCP), said it intends to use profits to complete a bankable feasibility study on the Thor Lake Rare Metals Project, working capital and general corporate purposes. 

Avalon Rare Metals is a mineral explorer and developer focused on rare metals deposits in Canada. Its flagship project, the 100%-owned Nechalacho Deposit, Thor Lake, in the Northwest Territories, is emerging as one of the largest undeveloped rare earth elements resources in the world.

 

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