Marchese of Texas Mineral Resources on the ‘extremely lucrative returns’ to extract scandium from coal
August 11, 2016 — Texas Mineral Resources Corp. (OTCQX: TMRC) is an exploration-stage mining company with its flagship property, Round Top Mountain, near Sierra Blanca in Hudspeth County, Texas. The Texas Bureau of Economic Geology first recognized the unique geology of Round Top Mountain some 25 years ago. But few uses existed then for the rare earth elements found in the mountain. Now times have changed and one example of the grave security importance of rare earth elements is the 920lbs of rare earths used in each F-35 Joint Strike Fighter jet.
In recent developments, Texas Mineral Resources Corp. has announced
- That it has successfully completed a demonstration-of-concept project to separate and refine specific high-purity rare earth elements for the United States Defense Logistics Agency’s Strategic Materials Division in conjunction with its joint venture partner K-Technologies, Inc.
- That it had signed a memorandum of understanding with a well-established privately-held Pennsylvania coal company. The MOU gives TMRC a six-month period of time to further evaluate the potential to finance, recover and produce scandium and other rare earth byproducts from their properties.
In this interview with InvestorIntel reporter Fred Cowans, Texas Mineral Resources Chairman Anthony Marchese discusses:
- His company’s new strategies.
- How the plan to extract scandium from the overburden of a coal project, as well as the fly ash after the coal is burned, could provide extremely lucrative returns.
- How Round Top Mountain offers the lowest capex rare earths project in the world.
- Why a big mistake is being made by the U.S. in not developing own rare earth supply. (He believes such development is only a question of time.)
Disclaimer: Texas Minerals Resources Corp. is an advertorial member of InvestorIntel.