Shares in Commerce Resources Corp. almost doubled from six cents to more than 11 cents on Dec. 23 but its management didn't know why.
A media release issued by the company on that day stated:“Commerce Resources Corp., at the request of the TSX Venture Exchange, wishes to confirm that its management is not aware of any corporate development or undisclosed material change to the company or its operations that would account for the recent increase in market activity.”
Shares in the company peaked at nearly $1.70 in 2007, recovered to over $1.00 in 2011, and have been gradually declining in value since then.
Commerce is investigating a 7,500 tonne per day underground tantalum-niobium mine for its Upper Fir property north of Blue River.
Tantalum is a metal that is used in electronics, medicine, engineering and energy generation. Niobium is also a metal and is used mostly to make stainless steel and high-strength, low-alloy steels.
A mineral exploration and development company based in Vancouver, Commerce Resources also owns several other tantalum-niobium claims north of Blue River plus its Eldor rare earth project in Quebec.