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Can you give me information on Avalon Rare Metals? Thanks.

Article Excerpt

Avalon Rare Metals, $2.25, symbol AVL on Toronto (Shares outstanding; 82.6 million; Market cap: $185.7 million), is a Canadian junior mineral exploration and development company. It is largely focused on industrial and rare metals with high-technology applications. Avalon’s main asset is its 100%-owned Nechalacho rare-earth element deposit. This project, which is in an advanced stage of development, is located at Thor Lake in the Northwest Territories. Avalon believes that Nechalacho is one of the highest quality undeveloped rare-earth element deposits in the world. The company also owns four other rare-metals and minerals projects in Canada. Three of these, including one at Separation Rapids, near Kenora, Ontario, are at advanced stages of development. Rare-earth elements are a group of metals with unique characteristics. They are used for 1) catalytic converters, 2) magnets in small and large motors, 3) glass additives and glass-polishing compounds, 4) rechargeable batteries and 5) TV and computer screens, lighting, x-ray machines and lasers. Demand for rare earths will likely…