Last C$0.21 CAD
Change Today -0.005 / -2.38%
Volume 42.0K
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avalon rare metals inc (AVL) Snapshot

Open
C$0.22
Previous Close
C$0.21
Day High
C$0.22
Day Low
C$0.20
52 Week High
03/5/14 - C$0.89
52 Week Low
12/16/14 - C$0.20
Market Cap
28.9M
Average Volume 10 Days
87.7K
EPS TTM
C$-0.03
Shares Outstanding
140.8M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
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 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. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended November 30, 2014; Announces Impairment Loss on Exploration and Evaluation Assets for the First Quarter Ended November 30, 2014

Avalon Rare Metals Inc. announced unaudited consolidated earnings results for the first quarter ended November 30, 2014. For the quarter, the company reported revenue of CAD 15,415 compared to CAD 27,993 a year ago. Net loss and total comprehensive loss for the period was CAD 618,872 compared to CAD 2,249,813 a year ago. Cash used by operating activities was CAD 1,055,133 compared to CAD 1,555,255 a year ago. Invest in exploration and evaluation assets was CAD 569,212 compared to CAD 567,041 a year ago. Investment in property, plant and equipment was CAD 1,259,436 compared to CAD 3,002,329 a year ago. Loss per basic and diluted share was CAD 0.00 against CAD 0.02 a year ago. For the quarter, the company reported impairment loss on exploration and evaluation assets of CAD 2,375 compared to CAD 21,309 a year ago.

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.

 

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