Business
Avalon Continues to Progress its Advanced Critical Materials Projects Towards Development
Toronto, Ontario--(Newsfile Corp. - April 2, 2019) - Avalon Advanced Materials Inc. (TSX...
About this update from Avalon Advanced Materials Inc.
[{"type":"text","content":"Avalon Continues to Progress its Advanced Critical Materials Projects Towards DevelopmentToronto, Ontario--(Newsfile Corp. - April 2, 2019) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) (\"Avalon\" or the \"Company\") is pleased to report on progress made over the past quarter on all three of its advanced critical materials development projects in Canada. Significant progress, as described below, has been made towards the goal of achieving near-term, small-scale production on each of the Nechalacho Rare Earth Elements Project, East Kemptville Tin-Indium Project, and Separation Rapids Lithium Project. Demand for rare earth elements, lithium minerals, tin and other critical materials are all growing at rates exceeding the rate of growth in new supply, creating opportunities for new producers to emerge and fill looming supply deficits. The ability to bring these new supplies to emerging markets quickly is key to taking advantage of the opportunities. Small-scale initial development facilitates achieving that goal, while also accommodating future growth in production capacity. Nechalacho Rare Earth Elements Project, Thor Lake, NWTAs disclosed in the Company's news release dated January 30, 2019, Avalon signed a binding Terms Sheet with Cheetah Resources Pty Ltd. (\"Cheetah\") under which Cheetah will acquire ownership of the near-surface rare earth resources in the T-Zone and Tardiff Zones for a total cash consideration of C$5 million. Avalon President & CEO, Don Bubar recently visited Yellowknife and the Nechalacho site with Cheetah's Managing Director, Geoff Atkins, in order to meet with local government officials, Indigenous leaders, businesses and the media. Considerable interest was expressed by these parties in the Company's small-scale rare earth development model for its minimal environmental impact and for the commercial opportunities it will provide for local Indigenous business.Mr. Bubar commented: \"I was pleased with the positive reaction we received in the local community for our innovative, new small-scale development model that we plan to implement with Cheetah. Cheetah shares our values on sustainability in mineral development and our vision for this model representing the future of critical materials mineral production globally. This will provide an opportunity for the Northwest Territories and Can...