Mont Royal Resources Re Lists on ASX to Advance Major North American Rare Earth Project

Highlights:

• Following its merger with Commerce Resources, Mont Royal Resources Limited (ASX: MRZ) has resumed trading on the ASX, establishing a dual-listed critical minerals entity with a strategic focus on North American supply security.
• The combined company now holds full ownership of the Ashram rare earth and fluorspar project in Québec, which is considered one of the largest neodymium-praseodymium (NdPr) enriched deposits in North America.
• An updated Preliminary Economic Assessment will begin immediately to support development planning, government funding applications and future offtake agreements in the EV and clean-energy sectors.

At the time of writing, Mont Royal Resources Limited (ASX: MRZ) has returned to trading on the Australian Securities Exchange following its merger with Canadian-listed Commerce Resources Corp, forming a dual-listed critical minerals company focused on supplying strategic rare earth materials to North American markets.

Strategic Merger Creates Tier-1 Critical Minerals Developer

The merged company now holds full ownership of the Ashram rare earth and fluorspar project located in Québec, Canada. Ashram is regarded as one of North America’s largest known monazite-dominant rare earth deposits, with significant Indicated and Inferred resources that position it as a long-life development opportunity. The merger brings together Mont Royal’s corporate and exploration expertise with Commerce Resources’ established asset base and technical history.

Managing Director Nicholas Holthouse described the re-listing as the launch of “a new Canadian-focused critical minerals company on the ASX and TSX-V,” highlighting Ashram’s potential to become a key component of the North American critical minerals supply chain, particularly for electric vehicle (EV) motors and renewable energy technologies.

Rare Earths and Fluorspar Supply Opportunity

The project’s rare earth profile includes high proportions of neodymium and praseodymium (NdPr) — essential inputs for permanent magnet production used in EVs and wind turbines. Alongside rare earths, Ashram contains a substantial fluorspar by-product resource, providing additional market exposure to materials required in steelmaking, chemicals, and high-tech manufacturing.

Development Pathway and Next Steps

Mont Royal will now commence an updated Preliminary Economic Assessment (PEA) to refine development scenarios, confirm processing routes, and support government funding initiatives and offtake discussions. The initial development strategy is expected to involve the production of high-grade mineral concentrate followed by staged downstream processing. Mont Royal views the transaction as a milestone in its evolution into a vertically integrated critical minerals supplier aligned with North America’s push for secure, non-China dependent supply chains.

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