Shares of Avalon Rare Metals Inc. (AMEX: AVL) soared more than 5% on Thursday on speculation that the could be a takeover target. Avalon Rare Metals Inc. engages in the development and exploration of rare metals and minerals in Canada. The company primarily explores for lithium, beryllium, indium, gallium, and rare earth elements, such as neodymium and terbium; and rare minerals, including calcium feldspar. It holds interests primarily in the Thor Lake rare metals project located in the Mackenzie mining district of the Northwest Territories; Separation Rapids rare metals project and Warren Township Anorthosite project located in Ontario; and East Kemptville rare metals project located in Nova Scotia.
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