Nick Holthouse, the newly appointed CEO of Commerce Resources, shares his strategic vision for advancing the company’s flagship Ashram rare earth project in northern Quebec. Known for its exceptional metallurgical characteristics and ability to produce clean, high-grade concentrates, Ashram stands out as a globally significant deposit poised to meet the looming rare earth supply gap.
With a strong focus on Quebec-based development, Commerce has relocated its office to Montreal and is finalizing a Preliminary Economic Assessment (PEA) by year-end. Holthouse emphasizes the critical need for infrastructure, particularly road access, to unlock the full value of Ashram. The company also aims to capitalize on Australia's robust capital markets through a planned ASX listing—a move expected to accelerate funding and shareholder engagement.
Looking forward, Commerce is exploring downstream opportunities such as producing rare earth carbonates and even separation capabilities within Canada, the U.S., or Europe—bringing the company closer to its long-term magnet metals vision.
🔑 Key Takeaways:
Flagship Project: Ashram Rare Earth Deposit, Quebec
✓ Strong metallurgy – high-grade, clean concentrate
✓ Positioned to fill a global rare earth supply gap
✓ Upcoming PEA expected by year-endQuebec-Centric Strategy
✓ New office in Montreal
✓ CEO relocating to Quebec
✓ Strong local team development underwayInfrastructure Challenge & Roadmap
✓ Landlocked but technically advanced deposit
✓ Engaging with government & stakeholders on access road
✓ Environmental permitting set to follow PEACapital Markets Strategy
✓ Targeting ASX listing to access critical minerals investors
✓ Australian market seen as capital-rich and high-volume
✓ Strategic funding pathway to advance project buildoutDownstream Vision
✓ Rare earth carbonate production in Quebec
✓ Potential separation in North America or Europe
✓ Goal: integrated rare earth supply chain for magnet metals
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