Avalon Rare Metals Inc. has collected gross proceeds of approximately $2.425 million by closing a non-brokered private placement of 8,981,781 flow-through common shares at a price of $0.27 per share, according to Rare Earth Investing News.
The company will use the proceeds for exploration work on its East Kemptville tin-indium project in Nova Scotia, its Separation Rapids lithium project in Ontario and its Nechalacho rare earths project in the Northwest Territories.
After drifting 5.7%, europium oxide dropped to CNY 1,650 ($265.27) per kilogram making it the biggest mover on the weekly Rare Earths MMI® this week. The price of terbium metal increased by a slight 2.6% over the past week to CNY 4,000 ($643.09) per kilogram. Neodymium oxide rose 1.9% over the past week to CNY 275,000 ($44,212) per metric ton.
Following a 1.8% increase, praseodymium neodymium oxide finished the week at CNY 285,000 ($45,820) per metric ton. The price of terbium oxide rose 1.7% this week, closing out the third week at CNY 3,050 ($490.35) per kilogram. At CNY 3,050 ($490.35) per kilogram, the price of terbium oxide finished the week 1.7% higher. Following a steady week, prices for cerium oxide closed flat at CNY 12,500 ($2,010) per metric ton.
Lanthanum oxide prices held steady from the previous week at CNY 13,000 ($2,090) per metric ton. Prices for neodymium remained constant, closing the week at CNY 346,000 ($55,627) per metric ton. At CNY 420,000 ($67,524) per metric ton, the week finished with no movement for praseodymium oxide. Rare earth carbonate remained essentially flat from the previous week at CNY 25,000 ($4,019) per metric ton.
Closing at CNY 17,000 ($2,733) per metric ton, samarium oxide remained unchanged for the week. At CNY 34,000 ($5,466) per metric ton, the price of yttria did not change since the previous week. Yttrium traded sideways last week, hovering around CNY 270.00 ($43.41) per kilogram.
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The Rare Earths MMI® collects and weights 14 global rare earth metal price points to provide a unique view into rare earth metal price trends. For more information on the Rare Earths MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.