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texas rare earth resources c (TRER) Snapshot

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07/16/14 - $0.48
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texas rare earth resources c (TRER) Details

Texas Rare Earth Resources Corp., an exploration stage mining company, acquires, explores, and develops mineral properties in the United States. The company holds interests in the Round Top rare earths project covering 950 acres in Hudspeth County, Texas; and prospecting permits covering 9,345 acres adjacent to the Round Top project, as well as owns unpatented mining claims in New Mexico. The company was formerly known as Standard Silver Corporation and changed its name to Texas Rare Earth Resources Corp. in September 2010. Texas Rare Earth Resources Corp. was incorporated in 1970 and is headquartered in Sierra Blanca, Texas.

3 Employees
Last Reported Date: 12/12/14
Founded in 1970

texas rare earth resources c (TRER) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $120.0K
Chief Financial Officer and Principal Account...
Total Annual Compensation: --
Total Annual Compensation: $53.3K
Compensation as of Fiscal Year 2014.

texas rare earth resources c (TRER) Key Developments

Texas Rare Earth Resources Corp. Appoints Eric Noyrez as Member of the Board of Directors

On October 1, 2013, Texas Rare Earth Resources Corp. appointed Mr. Eric Noyrez to serve as a member of the company's Board of Directors. Mr. Noyrez served as the Chief Executive Officer of Lynas Corporation Limited, a company engaged in integrated extraction and processing of rare earth minerals, primarily in Australia and Malaysia from March 31, 2013 to June 5, 2014 and served as an Executive Director until June 5, 2014.

Texas Rare Earth Resources Signs Agreements with the Texas General Land Office to Purchase the Surface Rights

Texas Rare Earth Resources Corp. announced that it has executed agreements with the Texas General Land Office securing the option to purchase the surface rights covering the potential Round Top project mine and plant areas and, separately, a lease to develop the water necessary for the potential Round Top project mine operations. The option to purchase the surface rights covers approximately 5,670 acres over the mining lease and the additional acreage adequate to site all potential heap leaching and processing operations as currently anticipated by the Company. TRER may exercise the option for all or part of the option acreage at any time during the sixteen year primary term of the mineral lease. The option can be kept current by an annual payment of $10,000. The purchase price will be the appraised value of the surface at the time of exercising the option. The ground water lease secures TRER's right to develop the ground water within a 13,120 acre lease area located approximately 4 miles from the Round Top deposit. The lease area contains five existing water wells. It is anticipated that all potential water needs for the Round Top project mine operations would be satisfied by the existing wells covered by this water lease. This lease has an annual minimum production payment of $5,000 prior to production of water for the operation. After initiation of production TRER will pay $0.95 per thousand gallons or $20,000 annually, whichever is greater. This lease remains effective as long as the mineral lease is in effect.

Texas Rare Earth Mulls Acquisitions

Texas Rare Earth Resources Corp. (OTCPK:TRER) intends to pursue acquisitions. Texas Rare Earth has filed a Shelf Registration to raise $6.79 million. The company will use the proceeds for the acquisition of other material properties or discoveries on currently immaterial properties.


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