02:08:17 EDT Fri 14 Jun 2024
Enter Symbol
or Name

Login ID:
Commerce Resources Corp (2)
Symbol CCE
Shares Issued 168,021,555
Close 2024-01-19 C$ 0.105
Market Cap C$ 17,642,263
Recent Sedar Documents

Commerce Resources appoints Ritchie as a director

2024-01-23 09:36 ET - News Release

Mr. Chris Grove reports


Commerce Resources Corp. has appointed Adam Ritchie as a new director. Mr. Ritchie brings with him a wealth of experience in the mining industry, with a focus on major project development. His expertise and vision align well with Commerce's goals, and the company looks forward to benefiting from his guidance in the coming years.

Chris Grove, president of Commerce Resources, states: "I am excited to have Adam join the Commerce Resources board. His significant experience in project development and integrity in providing shareholder value will be a significant benefit to the company as we advance both the Ashram REE [rare earth element]/fluorspar deposit and our niobium claim group this year."

Mr. Ritchie has over 20 years of experience in the resources industry and has been focused on project delivery in senior positions for many of Australia's best-performing companies in the mining and minerals sector, including Pilbara Minerals, FMG, Rio Tinto and BHP.

Mr. Ritchie is known for delivering complex projects with a particular focus on high-value mineral assets. He is recognized for his contributions to major Australian lithium and iron ore projects, across all project stages.

He is the managing director of Loyal Lithium, an Australian Stock Exchange-listed battery minerals company with hard rock lithium assets in Quebec, Canada. He holds a bachelor in engineering and a masters degree in utility engineering. He is committed to a sustainable future and harbours a long-term personal passion for technology and innovation.

Mr. Ritchie states: "It's a genuine honour to join the Commerce board of directors, overseeing a project that holds such global significance. I am excited about contributing my project development experience and leveraging my intimate knowledge of Quebec to help advance the asset. The Ashram project boasts substantial untapped potential, deserving serious consideration from both government and investors. The road ahead looks promising as we guide one of the largest undeveloped rare earth deposits to the next level."

Additionally, David Ian Hodge has resigned as a director of the company. The company would like to express its sincere gratitude to Mr. Hodge for his long-standing and dedicated service during his tenure, dating from 1999. His insight and leadership have been instrumental in guiding the company through various strategic decisions, including the staking of the Eldor claims in Quebec in 2007.

About Commerce Resources Corp.

Commerce Resources is a junior mineral resource company focused on the development of the Ashram rare earth and fluorspar deposit located in Quebec, Canada. The company is positioning to be one of the lowest-cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr (neodymium and praseodymium) oxide to the global market. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

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