Last C$0.24 CAD
Change Today 0.00 / 0.00%
Volume 178.4K
AVL On Other Exchanges
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As of 12:59 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

avalon rare metals inc (AVL) Snapshot

Open
C$0.25
Previous Close
C$0.24
Day High
C$0.25
Day Low
C$0.23
52 Week High
03/5/14 - C$0.89
52 Week Low
12/16/14 - C$0.20
Market Cap
32.6M
Average Volume 10 Days
284.3K
EPS TTM
C$-0.05
Shares Outstanding
135.8M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
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Current Stock Chart for AVALON RARE METALS INC (AVL)

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avalon rare metals inc (AVL) Details

Avalon Rare Metals Inc. explores and develops rare metals and minerals primarily in Canada. The company focuses on exploring rare earth elements, and other rare metals and minerals, including lithium, tantalum, niobium, cesium, indium, gallium, yttrium, and zirconium, as well as tin. It holds 100% interests in the Nechalacho project, which comprises 5 contiguous mining leases totaling 10,449 acres and 3 claims totaling 4,597 acres located at Thor Lake in the Mackenzie Mining District of the Northwest Territories. The company was formerly known as Avalon Ventures Ltd. and changed its name to Avalon Rare Metals Inc. in February 2009. Avalon Rare Metals Inc. was founded in 1991 and is headquartered in Toronto, Canada.

17 Employees
Last Reported Date: 12/1/14
Founded in 1991

avalon rare metals inc (AVL) Top Compensated Officers

President, Chief Executive Officer and Direct...
Total Annual Compensation: C$400.0K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$300.0K
Interim Chief Operating Officer and Senior Vi...
Total Annual Compensation: C$356.7K
Vice President of Exploration
Total Annual Compensation: C$256.7K
Vice President of Sustainability
Total Annual Compensation: C$151.6K
Compensation as of Fiscal Year 2014.

avalon rare metals inc (AVL) Key Developments

Avalon Rare Metals Inc. Auditor Raises 'Going Concern' Doubt

Avalon Rare Metals Inc. filed its 20-F on Dec 01, 2014 for the period ending Aug 31, 2014. In this report its auditor, Deloitte & Touche LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Avalon Rare Metals Provides Update on Progress on the Nechalacho Rare Earth Elements Project, Thor Lake, NWT

Avalon Rare Metals Inc. reported on recent progress at its 100% owned Nechalacho Rare Earth Elements Project located at Thor Lake in the Northwest Territories, Canada. Most of the technical work programs planned to optimize the 2013 Feasibility Study have been completed and an updated feasibility study is in preparation. Completion of this study awaits a decision on a location for the hydrometallurgical plant and revised cost estimates for this facility. The only significant technical work remaining is to carry out a pilot plant trial of the new hydrometallurgical process flowsheet to finalize engineering and plant design criteria. A bulk sample of Basal Zone material required for this work has been recovered and the trial will proceed once arrangements with a suitable facility are confirmed and the funding required (in the order of $4 million) is in place. Efforts to arrange Project financing and product off-take agreements continue along with Project implementation planning and permitting. Depressed commodity prices generally and reduced demand for rare earths in particular, have made accessing capital for large scale resource development projects like Nechalacho very challenging in recent months. However, the Company remains optimistic that rare earth demand will recover sufficiently in 2015 to attract Project financing and allow construction work to begin by next summer. A one-month drilling program was completed at the Nechalacho site in August to acquire further bulk sample for future metallurgical pilot plant purposes. Seven large diameter PQ drill holes totaling 1,773 meters were completed, resulting in 3 tonnes of Basal Zone ore material being collected. This brings the total bulk sample now in inventory to approximately 8 tonnes. The material is being stored in Yellowknife and Lakefield, ON. The drill core was also assayed for rare earths as usual and the data will be included in the resource model. The only other significant work done at the site in 2014 was a program of tree clearing to prepare several areas for initial construction work. These areas are for the planned fuel storage site and the accommodations, the ramp portal site and an area that will be used as a quarry. This will enable immediate start-up on the construction of a larger camp and the driving of the underground ramp once permits and financing are in place. The exploration camp is being closed for the winter as no further drilling or site development work is planned before next summer.

Avalon Reports Significant Progress on its Separation Rapids Lithium Minerals Project, Kenora, Ontario

Avalon Rare Metals Inc. reported on its progress at the 100% owned Separation Rapids Lithium Minerals Project located north of Kenora, Ontario. Most significantly, recent metallurgical process development work has successfully produced a very high purity lithium mineral (petalite) concentrate, notable in its exceptionally low iron content. Twenty kilograms of petalite concentrate has been produced by the company for evaluation by several potential customers in the glass and ceramics industry in North America, Europe and Asia who have expressed interest in a high-purity product. If this product meets the customers' performance requirements, it is anticipated that the company would (subject to financing) then proceed with bulk sampling and construction of a demonstration scale production facility to produce larger quantities of the product for full-scale trials by the customers. Petalite is a very rare lithium mineral that is preferred for the production of certain specialty glass-ceramic products, notable for their high durability and thermal shock resistance. The company anticipates producing a feldspar by-product also notable for its very low impurity levels. This material has potential application in other glass and ceramic products and trial samples are also being prepared for evaluation by potential customers.

 

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