Avalon’s Nechalacho Rare Earths Project to Remain Inactive in 2016, While the Company Focuses on Lithium and Tin
TORONTO, Feb. 10, 2016 (GLOBE NEWSWIRE) -- Avalon Rare Metals Inc. (TSX:AVL) (OTCQX:AVLNF) (“Avalon” or the “Company”) provides the following update on activities on the Nechalacho Rare Earth Elements Project (“Nechalacho Project”), Thor Lake, NWT. Project work in calendar 2015 consisted mainly of concluding the ongoing metallurgical research, disposal of process waste materials and storage of bulk samples for future use.
Rare Earths Markets
Status of Toll-refining Agreement
Potential for Production of Zirconium Chemicals
Avalon is planning to evaluate the economics of producing zirconium chemicals from the Nechalacho deposit as a primary product when funding becomes available.
Status of Nechalacho Project Permitting
About Avalon Rare Metals Inc.
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements that expenditures on Avalon’s Nechalacho Project will remain minimal in 2016 as the Company re-focuses its efforts on the Separation Rapids Lithium Project and East Kemptville Tin-Indium Project, that Avalon and Solvay have agreed to consider entering into a new agreement, that looks forward to renewing this cooperation when the market for rare earths recovers, that Nechalacho project could satisfy the bulk of zirconium demand once brought into production, that Avalon is planning to evaluate the economics of producing zirconium chemicals from the Nechalacho deposit as a primary product when funding becomes available, that Avalon is considering completing the permitting process under the Mackenzie Valley Resource Management Act, and that improvements could significantly reduce the current high level of uncertainty around costs and timelines to complete the permitting process. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “potential”, “scheduled”, “anticipates”, “continues”, “expects” or “does not expect”, “is expected”, “scheduled”, “targeted”, “planned”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be” or “will not be” taken, reached or result, “will occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Avalon to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. Although Avalon has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to market conditions, and the possibility of cost overruns or unanticipated costs and expenses as well as those risk factors set out in the Company’s current Annual Information Form, Management’s Discussion and Analysis and other disclosure documents available under the Company’s profile at www.SEDAR.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements have been provided for the purpose of assisting investors in understanding the Company’s plans and objectives and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking statements. Avalon does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.
For questions and feedback, please e-mail the Company at firstname.lastname@example.org, or phone Don Bubar, President & CEO at 416-364-4938.