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Avalon Rare Metals Inc.
Type Public (TSXAVL)
Headquarters Toronto, Ontario, Canada
Key people Donald S. Bubar
(President & CEO)

Dr. Bill Mercer
(VP, Exploration)
Ian London
(VP, Market Development)
Industry Metals & Mining
Products rare earth elements, lithium, tantalum, cesium, calcium feldspar, indium, tin
Revenue CAN$ 0.033 million (FY 2007-08)
Operating income CAN$ (1.463) million (FY 2007-08)
Net income CAN$ (0.896) million (FY 2007-08)
Total assets CAN$ 9.067 million (FY 2007-08)
Total equity CAN$ 8.513 million (FY 2007-08)
Website www.avalonraremetals.com


Avalon Rare Metals Inc. is a mineral exploration and development company focused on rare metal deposits in Canada. Its flagship project, the 100%-owned Nechalacho Deposit, Thor Lake, Northwest Territories, is emerging as one of the largest undeveloped rare earth elements resources in the world. Its exceptional enrichment in the more valuable ‘heavy’ rare earths, 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 is committed to meeting its developmental milestones. Avalon’s strategy for growth is to develop its rare metals projects to production and cash flow, expand the markets for rare earth minerals, while also operating in an environmentally and socially responsible manner.

Avalon is listed on the Toronto Stock Exchange (TSX) and the OTCQX (AVARF).

Avalon’s principal assets, all located in Canada, are its 100% owned Thor Lake, Separation Rapids, East Kemptville and Warren Township rare metals and minerals projects

Projects

Avalon’s top priority is the Nechalacho deposit at its Thor Lake rare metals project, located near Yellowknife, Northwest Territories. The Nechalacho deposit is a world class resource of rare metals and minerals now being evaluated primarily for its potential to produce ‘heavy’ rare earth elements (HREE). Demand for HREE is growing rapidly because of their critical application in high strength permanent magnets which are vital to hybrid car technology and many popular consumer electronic products, yet there is virtually no primary production of HREE outside of China.

The Nechalacho deposit is unusual in its enrichment in the more valuable HREE such as europium, terbium, and dysprosium along with neodymium. Avalon is currently focusing its efforts on defining high-grade, HREE-rich resources in the very large Basal Zone of the deposit, which contains inferred resources of 64.2 million tonnes grading 1.96% TREO (total rare earth oxides). Nechalacho is also enriched in tantalum, niobium, zirconium, hafnium and gallium, which all represent potential valuable by-products. In September 2009, the Lake Zone deposit at Thor Lake was renamed to Nechalacho by the Yellowknives Dene First Nation.

A $6.5 million work program was carried out in 2008, involving 14,129 meters of diamond drilling to delineate indicated and inferred resources, metallurgical and mineralogical studies to define a process flowsheet to recover the REE, community consultation and environmental studies. A minimum $3.5 million program is underway in 2009 involving additional drilling, market studies and metallurgical work with the overall objective of completing a pre-feasibility study early in 2010. This would be followed by bulk sampling and a final feasibility study in 2010-2012, with initial production possible by 2013.

At Separation Rapids, located near Kenora, Ontario, Avalon is developing a world-class lithium minerals deposit. The lithium mineralization is being evaluated both for direct use in the glass and ceramics industry and as a chemical feedstock for lithium ion re-chargeable batteries. Demand for these batteries is growing rapidly and, because of lithium’s powerful fluxing properties, it represents an inexpensive way to reduce energy consumption and greenhouse gas emissions from glass furnaces.

At East Kemptville, located in Yarmouth Country, Nova Scotia, Avalon is evaluating the potential for re-developing a past producing tin mining operation as a new producer of tin plus the rare metals indium, gallium and germanium, and plans to generate a new 43-101 compliant resource estimate and preliminary economic assessment in 2009.

At Warren Township, located near Timmins, Ontario, Avalon is evaluating a large resource of high purity calcium feldspar which like lithium, offers potential cost-reducing efficiencies to glass manufacturers and environmental benefits through reduced greenhouse gas emissions. Furnace trials carried out on a bulk sample in 2007 by a major U.S. glass manufacturer produced positive results but the project has been put on hold due to permitting delays and reduced demand related to the economic recession.

References

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