TMR is an exploration company targeting the heavy-rare earths and a variety of other high-value elements and industrial minerals (U, Sc, and Li), announces that the Company will change its corporate name to Texas Mineral Resources Corp.Their increasing confidence in the ion exchange and ion chromatography process in separating and purifying the strategically vital heavy rare-earth elements present in the Round Top ore now permits them to begin to examine the production and marketing of the variety of other elements that are leached from the rhyolite host rock.
The name change to Texas Mineral Resources Corp. will help them better communicate this significant broadening of the base of the company that they feel will significantly add to the value of their Round Top Project to potential partners and investors, said Dan Gorski, CEO.
In addition to the heavy rare-earth minerals potentially produced, TMRC has reported, in prior press releases, the following potentially recoverable quantities of minerals ...
Mineral Potential Annual Recovery ...*
Current Pricing
Uranium 307,000 lbs..$32.15 lb.**
Scandium..5,400 kgs...$1,600-2,000 kg. ***
Lithium 9,000 tons ...$6,000 ton ****
* Potential recovery amounts are estimates only based on preliminary assessments and are not derived from an SEC Industry Guide 7 compliant feasibility study and do not represent a proven or probable mineral reserve.
** UxC Spot Price
*** Confidential discussions with industrial users
**** September 2015 price. FMC has announced a 15% price increase effective January 2016.
It should be noted that in April 2015, TRER signed a uranium off-take agreement with UG USA, a wholly owned subsidiary of AREVA.
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