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Last C$0.12 CAD
Change Today +0.005 / 4.35%
Volume 1.7M
AVL On Other Exchanges
As of 3:57 PM 10/9/15 All times are local (Market data is delayed by at least 15 minutes).

avalon rare metals inc (AVL) Snapshot

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04/28/15 - C$0.48
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10/6/15 - C$0.11
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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

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$400.0K
Chief Financial Officer, Vice President of Fi...
Total Annual Compensation: C$300.0K
Senior Vice President of Metallurgy and Techn...
Total Annual Compensation: C$356.7K
Vice President of Exploration
Total Annual Compensation: C$256.7K
Vice President of Sales & Marketing
Total Annual Compensation: C$256.7K
Compensation as of Fiscal Year 2014.

avalon rare metals inc (AVL) Key Developments

Avalon Rare Metals Inc. to Provide an Update on $750,000 Pilot Plant Program on its Separation Rapids Lithium Project

Avalon Rare Metals Inc. to provide an update on its $750,000 pilot plant program on the Company's Separation Rapids Lithium Project located near Kenora, Ontario. The 30 tonne bulk sample of crushed ore that was shipped this summer has arrived at its destination in Germany and process work is now underway. The sample will be processed using the Company's proven flow sheet to produce a high purity lithium mineral (petalite) concentrate for the following purposes: 1) to deliver further product samples to potential customers in the glassceramics industry who have already tested and approved smaller samples; 2) to provide initial test samples to a number of new potential customers; and 3) to generate concentrate for additional process development work with the objective of producing high purity lithium chemical products for the lithium ion battery manufacturing business. The pilot plant program will be completed, and concentrate available for distribution, in first quarter of 2016. Lithium chemicals process optimization work continues at the laboratories of the Saskatchewan Research Council ("SRC") in Saskatoon, Saskatchewan. Laboratory test work performed earlier this year at SRC provided encouraging results with a battery-grade lithium carbonate (>99.5% pure) being readily produced. Progress is being made toward the production of an enhanced grade product with a target purity of 99.9%. The potential for production of high grade lithium hydroxide was also demonstrated previously and optimization of this flowsheet is currently in progress. These programs are being conducted under the direction of David Marsh, Senior Vice-President, Metallurgy and Technology Development. Rehabilitation work on the access road to the site initiated in September has now been completed. This road will provide ready access to the deposit for large scale bulk sampling in 2016. Several hundred tonnes of petalite concentrate is expected to be produced from this bulk sample and will be used for full-scale production trials in the glass-ceramics industry and for piloting the lithium chemical production processes. Growing demand for rechargeable batteries in electric vehicles and home energy storage is expected to result in continued growth in consumption of lithium. Critical materials consulting firm Stormcrow Capital estimates that demand could reach 410,000 tonnes of lithium carbonate equivalent per year in 2025, compared to 200,000 tonnes in 2015. This translates into a compounded annual growth rate of a 7.8%. In their May 2015 Industry Report, Stormcrow further predicts that a supply deficit will emerge in the market as existing producers struggle to meet the rapidly growing demand. This sentiment was echoed at The Battery Show in Novi, Michigan September 15-17, attended by Vice-President, Sales and Marketing, Pierre Neatby, where some 5,000 industry participants gathered to discuss the current and future state of rechargeable batteries. The consensus was that lithium ion battery demand would grow significantly over the next decade in electric and hybrid vehicles and energy storage applications. The technical information included in this news release has been reviewed and approved by the company's Senior Vice President Metallurgy and Technology Development, Mr. David Marsh, FAusIMM (CP), who is a Qualified Person under NI 43-101.

Avalon Rare Metals Announces Start of 2015 Pilot Plant Program on Its Separation Rapids Lithium Project, Kenora, Ontario

Avalon Rare Metals Inc. announced that a $750,000 pilot plant program has commenced on the company's Separation Rapids Lithium Project located near Kenora, Ontario. The 2015 pilot plant program will provide a trial of the new lithium minerals process flow sheet developed at the bench scale over the past year under the direction of SVP, Metallurgy and Technology Development, David Marsh. A total of 30 tonnes of crushed ore will be shipped to a laboratory in Germany for processing to produce a minimum of 1 tonne of pure lithium mineral (petalite) concentrate. This petalite concentrate will be used for two purposes: 1) to provide product samples to potential customers in the glass-ceramics industry who have expressed interest in evaluating these samples and 2) to provide concentrate for additional process development toward producing a high purity lithium chemical product for use by customers in the lithium ion rechargeable battery manufacturing business. The lithium chemicals work will be done at the laboratories of the Saskatchewan Research Council (SRC) in Saskatoon. The entire program is expected to be completed over the next 6-8 months.

Avalon Rare Metals Inc. Receives Non-Compliance Notice From NYSE

Avalon Rare Metals Inc. has received a letter from NYSE MKT LLC dated July 30, 2015 which states that due to the company's recent low selling share price, it has been deemed to be not in compliance with the continued listing standards of the Exchange. Pursuant to Section 1003(f)(v) of the Exchange's Company Guide, the company's continued listing is contingent upon the company effecting a share consolidation within a reasonable period of time or upon a sustained increase in its share price. A potential share consolidation, if required, will need to be approved by the company's shareholders at the company's next annual general meeting currently planned for February, 2016.


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