COMMERCE RESHAPES MANAGEMENT TEAM IN PREPARATION FOR RENEWED DEVELOPMENT FOCUS OF ASHRAM RARE EARTHS PROJECT
As part of the changes, Joel Ives has been appointed Chief Financial Officer and Company Secretary while Cindy Valence has been promoted to the role of VP Government Relations and Sustainability.
Mr. Ives is a highly experienced finance and business advisory executive who has worked in senior roles for a range of publicly listed companies. Mr Ives is a member of Chartered Accountants Australia and New Zealand.
Commerce also advises that Jody Bellefleur will step down as Chief Financial Officer and Company Secretary. Commerce Chief Executive Nicholas Holthouse thanked Ms Bellefleur for her contribution to the Company and Ashram's development.
Cindy Valence will be promoted from her current role of GM Sustainability to VP Government Relations and Sustainability. Ms Valence has more than 20 years of management experience in her field, most recently as Vice-President of Sustainable Development. Based in Québec, her experience and her applied knowledge of the energy transition and connections to Government and First Nations will ensure she is an invaluable member of the Commerce team.
Patrik Schmidt will step down from his role as VP Exploration but will continue to support the project as a consultant with Dahrouge Geological Consulting.
Tariq Safi has resigned from his role as Investor Relations and Corporate Communications.
Commerce CEO & President, Nicholas Holthouse, said:
"A good first step in the rebuild of a first-class team with a clear development focus to help ensure we can maximise the huge opportunity we have at Ashram.
A multigenerational resource combined with exceptional grades, outstanding metallurgical characteristics and a tier-one mining jurisdiction all bode well for building industry and government support. When these key attributes are combined with the team we are assembling, the economic and strategic fundamentals for this project becomes very clear".
For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.
COMMERCE RESOURCES CORP. Nicholas Holthouse President and CEO Phone: + 61 428 964 276 Email: info@commmerceresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this news release include statements regarding the expected listing on the Australian Securities Exchange thereafter; the continued advancement of the Ashram project to development; that Ashram's fluorspar component which makes it one of the largest potential sources of fluorspar in the world and could be a long-term supplier to the met-spar and acid-spar markets; that the Company is positioning to be one of the lowest cost rare earth element producers globally, with a focus on being a long-term global supplier of mixed rare earth carbonate and/or NdPr oxide; and that the Company may explore the potential of other high-value commodities on the Ashram Property. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these events, activities or developments from coming to fruition include: that the Company may not complete a listing on the Australian Securities Exchange; that the Company may not be able to fully finance any additional exploration on the Ashram Project; that even if the Company is able raise capital, costs for exploration activities may increase such that the Company may not have sufficient funds to pay for such exploration or processing activities; the timing and content of the proposed drill program and any future work programs may not be completed as proposed or at all; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumptions based on limited test work and by comparison to what are considered analogous deposits that, with further test work, may not be comparable; testing of our process may not prove successful or samples derived from the Ashram Project may not yield positive results, and even if such tests are successful or initial sample results are positive, the economic and other outcomes may not be as expected; the anticipated market demand for rare earth elements and other minerals may not be as expected; the availability of labour and equipment to undertake future exploration work and testing activities; geopolitical risks which may result in market and economic instability; and despite the current expected viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered on the Ashram Project, the project may not be commercially viable. The forward-looking statements contained in this news release are made as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
SOURCE Commerce Resources Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/10/c8355.html
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
Republicans look to make a U-turn on federal commitment to electric vehicles for the Postal Service
WASHINGTON (AP) — A year after being lauded for its plan to replace thousands of aging, gas-powered mail trucks with a mostly electric fleet, the U.S. Postal Service is facing congressional attempts to strip billions in federal EV funding. In June, the Senate parliamentarian blocked a Republican proposal in a major tax-and-spending bill to sell off the agency's new electric vehicles and infrastructure and revoke remaining federal money. But efforts to halt the fleet's shift to clean energy continue in the name of cost savings. Donald Maston, president of the National Rural Letter Carriers' Association, said canceling the program now would have the opposite effect, squandering millions of dollars. 'I think it would be shortsighted for Congress to now suddenly decide they're going to try to go backwards and take the money away for the EVs or stop that process because that's just going to be a bunch of money on infrastructure that's been wasted," he said. Beyond that, many in the scientific community fear the government could pass on an opportunity to reduce carbon emissions that contribute to global warming when urgent action is needed. Electrified vehicles reduce emissions A 2022 University of Michigan study found the new electric postal vehicles could cut total greenhouse gas emissions by up to 20 million tons over the predicted, cumulative 20-year lifetime of the trucks. That's a fraction of the more than 6,000 million metric tons emitted annually in the United States, said professor Gregory A. Keoleian, co-director of the university's Center for Sustainable Systems. But he said the push toward electric vehicles is critical and needs to accelerate, given the intensifying impacts of climate change. 'We're already falling short of goals for reducing emissions,' Keoleian said. 'We've been making progress, but the actions being taken or proposed will really reverse decarbonization progress that has been made to date.' Many GOP lawmakers share President Donald Trump's criticism of the Biden-era green energy push and say the Postal Service should stick to delivering mail. Sen. Joni Ernst, R-Iowa, said 'it didn't make sense for the Postal Service to invest so heavily in an all-electric force." She said she will pursue legislation to rescind what is left of the $3 billion from the Inflation Reduction Act allocated to help cover the $10 billion cost of new postal vehicles. Ernst has called the EV initiative a 'boondoggle' and "a textbook example of waste,' citing delays, high costs and concerns over cold-weather performance. 'You always evaluate the programs, see if they are working. But the rate at which the company that's providing those vehicles is able to produce them, they are so far behind schedule, they will never be able to fulfill that contract," Ernst said during a recent appearance at the Iowa State Fair, referring to Wisconsin-based Oshkosh Defense. 'For now,' she added, "gas-powered vehicles — use some ethanol in them — I think is wonderful.' Corn-based ethanol is a boon to Iowa's farmers, but the effort to reverse course has other Republican support. Rep. Michael Cloud, R-Texas, a co-sponsor of the rollback effort, has said the EV order should be canceled because the project "has delivered nothing but delays, defective trucks, and skyrocketing costs.' The Postal Service maintains that the production delay of the Next Generation Delivery Vehicles, or NGDVs, was 'very modest" and not unexpected. 'The production quantity ramp-up was planned for and intended to be very gradual in the early months to allow time for potential modest production or supplier issues to be successfully resolved,' spokesperson Kim Frum said. EVs help in modernization effort The independent, self-funded federal agency, which is paid for mostly by postage and product sales, is in the middle of a $40 billion, 10-year modernization and financial stabilization plan. The EV effort had the full backing of Democratic President Joe Biden, who pledged to move toward an all-electric federal fleet of car and trucks. The 'Deliver for America' plan calls for modernizing the ground fleet, notably the Grumman Long Life Vehicle, which dates back to 1987 and is fuel-inefficient at 9 mpg. The vehicles are well past their projected 24-year lifespan and are prone to breakdowns and even fires. 'Our mechanics are miracle workers,' said Mark Dimondstein, president of the American Postal Workers Union. 'The parts are not available. They fabricate them. They do the best they can.' The Postal Service announced in 2022 it would deploy at least 66,000 electric vehicles by 2028, including commercial off-the-shelf models, after years of deliberation and criticism it was moving too slowly to reduce emissions. By 2024, the agency was awarded a Presidential Sustainability Award for its efforts to electrify the largest fleet in the federal government. Building new postal trucks In 2021, Oshkosh Defense was awarded a contract for up to 165,000 battery electric and internal combustion engine Next Generation vehicles over 10 years. The first of the odd-looking trucks, with hoods resembling a duck's bill, began service in Georgia last year. Designed for greater package capacity, the trucks are equipped with airbags, blind-spot monitoring, collision sensors, 360-degree cameras and antilock brakes. There's also a new creature comfort: air conditioning. Douglas Lape, special assistant to the president of the National Association of Letter Carriers and a former carrier, is among numerous postal employees who have had a say in the new design. He marvels at how Oshkosh designed and built a new vehicle, transforming an old North Carolina warehouse into a factory along the way. 'I was in that building when it was nothing but shelving,' he said. 'And now, being a completely functioning plant where everything is built in-house — they press the bodies in there, they do all of the assembly — it's really amazing in my opinion.' Where things stand now The agency has so far ordered 51,500 NGDVs, including 35,000 battery-powered vehicles. To date, it has received 300 battery vehicles and 1,000 gas-powered ones. Former Postmaster General Louis DeJoy said in 2022 the agency expected to purchase chiefly zero-emissions delivery vehicles by 2026. It still needs some internal combustion engine vehicles that travel longer distances. Frum, the Postal Service spokesperson, said the planned NGDV purchases were "carefully considered from a business perspective' and are being deployed to routes and facilities where they will save money. The agency has also received more than 8,200 of 9,250 Ford E-Transit electric vehicles it has ordered, she said. Ernst said it's fine for the Postal Service to use EVs already purchased. 'But you know what? We need to be smart about the way we are providing services through the federal government,' she said. 'And that was not a smart move.' Maxwell Woody, lead author of the University of Michigan study, made the opposite case. Postal vehicles, he said, have low average speeds and a high number of stops and starts that enable regenerative braking. Routes average under 30 miles and are known in advance, making planning easier. 'It's the perfect application for an electric vehicle," he said, 'and it's a particularly inefficient application for an internal combustion engine vehicle.' ____ Associated Press writer Hannah Fingerhut in Des Moines, Iowa, contributed to this report. Susan Haigh, The Associated Press Effettua l'accesso per consultare il tuo portafoglio
Yahoo
21 minutes ago
- Yahoo
Air Canada to resume flights after govt directive ends strike
Air Canada said it will resume flying on Sunday after the country's industrial relations board ordered an end to a strike by 10,000 flight attendants that effectively shut down the airline and snarled summer travel. The Canada Industrial Relations Board (CIRB) "directed Air Canada to resume airline operations and for all Air Canada and Air Canada Rouge flight attendants to resume their duties by 14:00 EDT on August 17, 2025," the airline said in a statement. While it plans to resume flights on Sunday evening, Canada's flag carrier warned it would take "several days before its operations return to normal." Some flights are still set to be cancelled over the next seven to 10 days, it added. Air Canada cabin crew walked off the job early Saturday over a wage dispute. Hours later, Canada's labor policy minister, Patty Hajdu, invoked a legal provision to halt the strike and force both sides into binding arbitration. "The directive, under section 107 of the Canada Labour Code, and the CIRB's order, ends the strike at Air Canada that resulted in the suspension of more than 700 flights," the Montreal-based carrier said. The Canadian Union of Public Employees (CUPE), which is representing the workers, sought wage increases as well as to address uncompensated ground work, including during the boarding process. It had previously said its members would remain on strike until the government formally issued an order that they return to work. It had urged passengers not to go to the airport if they had a ticket for Air Canada or its lower-cost subsidiary Air Canada Rouge. While it did not immediately issue a response to the back-to-work directive, the CUPE earlier slammed the Canadian government's intervention as "rewarding Air Canada's refusal to negotiate fairly by giving them exactly what they wanted." "This sets a terrible precedent," it said. The union also pointed out that the chairwoman of CIRB, Maryse Tremblay, previously worked as legal counsel for Air Canada. Tremblay's ruling on whether to end the strike was "an almost unthinkable display of conflict-of-interest," the union posted on Facebook. On Thursday, Air Canada detailed the terms offered to cabin crew, indicating a senior flight attendant would on average make CAN$87,000 ($65,000) by 2027. CUPE has described Air Canada's offers as "below inflation (and) below market value." In a statement issued before the strike began, the Business Council of Canada warned an Air Canada work stoppage would exacerbate the economic pinch already being felt from US President Donald Trump's tariffs. Canada's flag carrier counts around 130,000 daily passengers and flies directly to 180 cities worldwide. bur-lb/rsc
Associated Press
23 minutes ago
- Associated Press
Republicans look to make a U-turn on federal commitment to electric vehicles for the Postal Service
WASHINGTON (AP) — A year after being lauded for its plan to replace thousands of aging, gas-powered mail trucks with a mostly electric fleet, the U.S. Postal Service is facing congressional attempts to strip billions in federal EV funding. In June, the Senate parliamentarian blocked a Republican proposal in a major tax-and-spending bill to sell off the agency's new electric vehicles and infrastructure and revoke remaining federal money. But efforts to halt the fleet's shift to clean energy continue in the name of cost savings. Donald Maston, president of the National Rural Letter Carriers' Association, said canceling the program now would have the opposite effect, squandering millions of dollars. 'I think it would be shortsighted for Congress to now suddenly decide they're going to try to go backwards and take the money away for the EVs or stop that process because that's just going to be a bunch of money on infrastructure that's been wasted,' he said. Beyond that, many in the scientific community fear the government could pass on an opportunity to reduce carbon emissions that contribute to global warming when urgent action is needed. Electrified vehicles reduce emissions A 2022 University of Michigan study found the new electric postal vehicles could cut total greenhouse gas emissions by up to 20 million tons over the predicted, cumulative 20-year lifetime of the trucks. That's a fraction of the more than 6,000 million metric tons emitted annually in the United States, said professor Gregory A. Keoleian, co-director of the university's Center for Sustainable Systems. But he said the push toward electric vehicles is critical and needs to accelerate, given the intensifying impacts of climate change. 'We're already falling short of goals for reducing emissions,' Keoleian said. 'We've been making progress, but the actions being taken or proposed will really reverse decarbonization progress that has been made to date.' Many GOP lawmakers share President Donald Trump's criticism of the Biden-era green energy push and say the Postal Service should stick to delivering mail. Sen. Joni Ernst, R-Iowa, said 'it didn't make sense for the Postal Service to invest so heavily in an all-electric force.' She said she will pursue legislation to rescind what is left of the $3 billion from the Inflation Reduction Act allocated to help cover the $10 billion cost of new postal vehicles. Ernst has called the EV initiative a 'boondoggle' and 'a textbook example of waste,' citing delays, high costs and concerns over cold-weather performance. 'You always evaluate the programs, see if they are working. But the rate at which the company that's providing those vehicles is able to produce them, they are so far behind schedule, they will never be able to fulfill that contract,' Ernst said during a recent appearance at the Iowa State Fair, referring to Wisconsin-based Oshkosh Defense. 'For now,' she added, 'gas-powered vehicles — use some ethanol in them — I think is wonderful.' Corn-based ethanol is a boon to Iowa's farmers, but the effort to reverse course has other Republican support. Rep. Michael Cloud, R-Texas, a co-sponsor of the rollback effort, has said the EV order should be canceled because the project 'has delivered nothing but delays, defective trucks, and skyrocketing costs.' The Postal Service maintains that the production delay of the Next Generation Delivery Vehicles, or NGDVs, was 'very modest' and not unexpected. 'The production quantity ramp-up was planned for and intended to be very gradual in the early months to allow time for potential modest production or supplier issues to be successfully resolved,' spokesperson Kim Frum said. EVs help in modernization effort The independent, self-funded federal agency, which is paid for mostly by postage and product sales, is in the middle of a $40 billion, 10-year modernization and financial stabilization plan. The EV effort had the full backing of Democratic President Joe Biden, who pledged to move toward an all-electric federal fleet of car and trucks. The 'Deliver for America' plan calls for modernizing the ground fleet, notably the Grumman Long Life Vehicle, which dates back to 1987 and is fuel-inefficient at 9 mpg. The vehicles are well past their projected 24-year lifespan and are prone to breakdowns and even fires. 'Our mechanics are miracle workers,' said Mark Dimondstein, president of the American Postal Workers Union. 'The parts are not available. They fabricate them. They do the best they can.' The Postal Service announced in 2022 it would deploy at least 66,000 electric vehicles by 2028, including commercial off-the-shelf models, after years of deliberation and criticism it was moving too slowly to reduce emissions. By 2024, the agency was awarded a Presidential Sustainability Award for its efforts to electrify the largest fleet in the federal government. Building new postal trucks In 2021, Oshkosh Defense was awarded a contract for up to 165,000 battery electric and internal combustion engine Next Generation vehicles over 10 years. The first of the odd-looking trucks, with hoods resembling a duck's bill, began service in Georgia last year. Designed for greater package capacity, the trucks are equipped with airbags, blind-spot monitoring, collision sensors, 360-degree cameras and antilock brakes. There's also a new creature comfort: air conditioning. Douglas Lape, special assistant to the president of the National Association of Letter Carriers and a former carrier, is among numerous postal employees who have had a say in the new design. He marvels at how Oshkosh designed and built a new vehicle, transforming an old North Carolina warehouse into a factory along the way. 'I was in that building when it was nothing but shelving,' he said. 'And now, being a completely functioning plant where everything is built in-house — they press the bodies in there, they do all of the assembly — it's really amazing in my opinion.' Where things stand now The agency has so far ordered 51,500 NGDVs, including 35,000 battery-powered vehicles. To date, it has received 300 battery vehicles and 1,000 gas-powered ones. Former Postmaster General Louis DeJoy said in 2022 the agency expected to purchase chiefly zero-emissions delivery vehicles by 2026. It still needs some internal combustion engine vehicles that travel longer distances. Frum, the Postal Service spokesperson, said the planned NGDV purchases were 'carefully considered from a business perspective' and are being deployed to routes and facilities where they will save money. The agency has also received more than 8,200 of 9,250 Ford E-Transit electric vehicles it has ordered, she said. Ernst said it's fine for the Postal Service to use EVs already purchased. 'But you know what? We need to be smart about the way we are providing services through the federal government,' she said. 'And that was not a smart move.' Maxwell Woody, lead author of the University of Michigan study, made the opposite case. Postal vehicles, he said, have low average speeds and a high number of stops and starts that enable regenerative braking. Routes average under 30 miles and are known in advance, making planning easier. 'It's the perfect application for an electric vehicle,' he said, 'and it's a particularly inefficient application for an internal combustion engine vehicle.' ____ Associated Press writer Hannah Fingerhut in Des Moines, Iowa, contributed to this report.
