- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Galan Lithium
International Graphite
Cardiex Limited
CVD Equipment Corporation
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Appointment Of Exploration Manager To Advance Gascoyne Projects
Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce the successful appointment of highly experienced geologist Steve Vallance to the position of Exploration Manager, effective immediately.
Mr. Vallance’s appointment follows the Company’s acquisition of two highly prospective projects in the emerging critical minerals Gascoyne region of Western Australia, including the successful capital raise of $2.0M from sophisticated and professional investors.
Mr. Vallance has over 35 years’ experience across a range of commodities including nickel, lithium, manganese and gold with a solid track record of building strong and cohesive exploration teams. He will also serve as the Company’s ongoing Competent Person.
Most notably Mr. Vallance was Chief Exploration Geologist with Jubilee Mines for almost 10 years and co-lead the discovery of several major Nickel Sulphide deposits which ultimately led to the $3.3B takeover by Xstrata Nickel. However, it is Mr. Vallance’s most recent work with lithium and manganese exploration that arms the Company with the technical exploration expertise it needs to interrogate its newly acquired Morrisey Hill Lithium and White Castles Manganese projects.
Mr. Vallance's immediate task will be to conduct a detailed review of the Targeting Report from expert geological consultants RSC which is due this week and which will provide the basis for the design and implementation of the optimal exploration programs for each of the Company’s Gascoyne projects.
CEO Jeremy Bower said,
“This appointment represents the next step in our strategic plan for the Company. We have recently completed transformative acquisitions to dramatically increase our land holding in arguably one of the country’s hottest emerging critical minerals regions and with Steve’s appointment we now have a highly experienced geologist to lead our exploration programs. I have no doubt that Steve will be a great fit for Reach and I look forward to working together with him and building a strong and focused team as we move towards our maiden drilling program in the Gascoyne.”
This announcement has been authorised by the Board of Reach Resources Limited
Click here for the full ASX Release
This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Odessa Minerals: Exploring for Lithium and Rare Earths in Western Australia's Resource-rich Gascoyne Region
Quarterly Activities/Appendix 5B Cash Flow Report
Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) provides its activities report for the quarter ended 30 June 2023.
High-Grade Lithium Results at Yinnetharra (15 May 2023)
- Lithium mineralisation confirmed with rock chip samples reporting highly encouraging assays of up to 2.3% Li2O (lithium oxide); 4295ppm Cs (caesium) and 705.8ppm Ta2O5 (tantalum oxide).
- Multiple large, strike extensive, lithium-bearing pegmatites of the Spodumene-Petalite Subtype (Featherstone, J.M, 2004) confirmed at the Company’s Yinnetharra tenements, directly adjoining Delta Lithium (ASX: DLI) and Minerals 260 (ASX: MI6).
- Results from the Bonzer include:
- 23RRRK0003 - 14,422ppm or 1.4% Li2O, 2873ppm Cs ,714.4ppm Ta2O5 and 4891ppm Rb.
- 23RRRK0002 - 12,832ppm or 1.3% Li2O, 2205ppm Cs, 243.4ppm Ta2O5 and 4108ppm Rb.
- Results from the Bonzer include:
Outcropping Copper Gossan Delivers 33% Cu Assays (18 May 2023)
- High grade copper-oxide mineralisation (malachite) confirmed at the Company’s Morrissey Hill Project, Yinnetharra with rock chip samples reporting highly encouraging assays of up to 33.2% Cu; 0.2 g/t Au and 141.8g/t Ag.
14.3% Niobium & 70.3% HREO-Rare Earth Element NYF Pegmatite (1 June 2023)
- Sensational high-grade results from surface eluvial samples at Wabli Creek, Yinnetharra
- 14.3 % Nb2O5, 6.7% Ta2O5, 3689 ppm TREO with 70.3% HREO
- Independent geological experts RSC have advised that the consistent high-grade niobium and HREO is associated with a ~2.5km long rare element pegmatite swarm identified from historical records at Wabli Creek
- Importantly the mineralisation likely extends under cover (Jacobson et al, 2007)
- Source of high-grade niobium and heavy rare earth oxide (HREO) results confirmed as a rare element pegmatite swarm with niobium, yttrium, fluorine (NYF) geochemical signature
- Rare element (NYF) pegmatites are characterised by their unusual enrichment of niobium and heavy rare earth elements (HREE), in contrast to clay hosted or carbonatite deposits which predominantly contain light rare earth elements (LREE)
- Confirmation of a rare element pegmatite system increases the likelihood of identifying additional high-grade niobium and HREE which are listed as critical minerals by governments worldwide
Latest Assay Results Return up to 10.3% Niobium (28 June 2023)
- Spectacular assay results received from the latest surface eluvial and rock samples taken at the Wabli Creek rare element (NYF) pegmatite field have returned high grade niobium of 10.3% Nb2O5 (23RRRK243) and 2.6% Nb2O5 (23RRRK244). Additional anomalous rare earth elements (REE) results returned of up to 7082 ppm TREO.
- Importantly, samples from the latest program were taken up to 400m east of the previously mapped north-west pegmatite trend spanning ~1.5km, which returned results up to 14.3% Nb2O5, 6.7% Ta2O5, 3689 ppm TREO
- Latest results indicate a potential stacked pegmatite sequence and/or a new niobium/REE mineralisation source.
Click here for the full ASX Release
This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Outcropping Copper Gossan Delivers 33% Cu Assays At Morrissey Hill Project, Yinnetharra
Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce that it has received high grade copper, gold and silver results up to 33% copper, 0.2g/t gold and 142g/t silver from its recently completed rock chip sampling program at the Company’s Morrissey Hill Project, Yinnetharra, W. A (Refer to Figure 4).
HIGHLIGHTS
- High grade copper‐oxide mineralisation (malachite) confirmed at the Company’s Morrissey Hill Project, Yinnetharra with rock chip samples reporting highly encouraging assays of up to 33.2% Cu; 0.2 g/t Au and 141.8g/t Ag. (Figure 1).
- Results follow Morrissey Hill assays of up to 2.3% Li2O (ASX Announcement 15 May 2023).
- Mineralisation at the Swallowtail Copper Prospect was mapped over a strike length of at least 150m and remains open in all directions.
- Significant results include:
- 33.2% Cu, 0.2g/t Au and 141.8g/t Ag (23RRRK0039).
- 14.7% Cu, 0.02g/t Au and 55.6g/t Ag (23RRRK0042).
- 4.2% Cu, 0.3g/t Au and 5.7g/t Ag (23RRRK0041).
- 2.3% Cu, 0. 2g/t Au and 5.0g/t Ag (23RRRK0043).
- Historical sampling 3.0km’s west of Swallowtail could potentially extend the strike with historical results returned:
- 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
- 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
- The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation.
- Morrissey has never been drilled & geochemical surveys planned to commence next week.
Commenting on the results CEO Jeremy Bower said:
“The Morrissey Hill tenement at our Yinnetharra Project continues to deliver. These are outstanding copper results and in conjunction with the 2.3% Li20 announced earlier this week, it is clear how prospective the ground is. We’re focused on sourcing the critical and battery minerals of the future and copper is an important part of our strategy. Despite several world class copper‐gold and polymetallic base metal deposits in the East Capricorn Orogen, the West Capricorn and Gascoyne has been massively under‐ explored. We see this as a huge opportunity.
Importantly, we are fully funded to complete our field programs and drilling campaigns earmarked for this year. Our focus remains on thorough geochemical assessment of each target and getting drill rigs out to Morrissey Hill as soon as possible. This will mean consistent news flow for our shareholders over the coming months.”
FIGURE 3: Morrissey Hill showing location of the Swallowtail Prospect along Stringer Fault line
FIGURE 4: Regional location of Reach Yinnetharra projects
The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation. Systematic surface geochemical surveys including soils, stream sediment and rock chip sampling are planned to commence immediately. Results from this work will guide follow up programs which if warranted may include electromagnetic geophysical surveys and drill testing of priority targets.
The results were reported from an outcropping quartz‐veined gossan, the Swallowtail Prospect, showing visible malachite (copper‐oxide) over a strike length of approximately 150m. The gossan strikes east‐ west, appears to dip steeply towards the south and remains open in both directions. A single historical sample located some 3.0km’s west of Swallowtail, and within the same structural corridor, also reported high grade copper, gold and silver assays indicating a potential strike length of the target zone in excess of 3km’s (Refer to Figure 3).
Click here for the full ASX Release
This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Reach Resources’ Strategic Position Between Two of WA’s Mining Heavyweights
Reach Resources’ (ASX:RR1) strategic position with its Morrissey Hill project has placed the critical mineral explorer on the radar of two of Western Australia’s mining giants Delta Lithium (ASX:DLI) and Minerals 260 (ASX:MI6), according to an article published in The West Australian.
“While Delta and Minerals 260 have between them wrapped up what appears to be the region’s prime ground, both of their maps show a glaring and curious anomaly. Closer inspection reveals that a reasonable chunk of ground, right in the middle of the two bigger players, is held by the $10m market-capped Reach Resources,” the article said.
Reach acquired the Morrissey Hill lithium project in February, at the same time that it acquired the Camel Hill and White Castles tenements prospective for rare earths and manganese, respectively, covering four tenements. Morrissey hosts historical, high-grade lithium, tantalum, rubidium, caesium and niobium, according to Reach.
Click here to connect with Reach Resources’ Limited (ASX:RR1) for an Investor Presentation.
Multiple New Lithium (LCT) Pegmatite Targets Confirmed
Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) engaged globally renowned geological consultants RSC Consultants Limited (RSC) to assess the potential of the Company’s Gascoyne projects for:
- Lithium (Li): hard rock, high grade LCT Pegmatites
- Rare Earth Elements, Heavy and Light (HREE; LREE): clay/hard rock hosted
- Manganese (Mn): high grade strata bound, supergene, and• Precious and base metals (Au; Ag; Cu-Pb-Zn)
HIGHLIGHTS
- Independent geological experts RSC consultants have identified four priority target areas for Lithium-Caesium-Tantalum (“LCT”) Pegmatites within the Company’s Critical Elements Projects, located in the centre of the rapidly developing Gascoyne “Battery Metals” Province, WA
- Each of the target areas are associated with confirmed fertile parental granites of the Thirty Three and Durlacher Supersuites and contain the same metasedimentary sequences which host Red Dirt Metals (ASX: RDT) Yinnetharra Lithium Project, less than 10 km’s to the NE of Reach Resources’ tenure
- All of the targets are defined by favourable geology, multi-element pathfinder geochemistry and the presence of mapped Geological Society of Western Australia (GSWA) Tin, Tantalum and Lithium pegmatites
- A helicopter supported field reconnaissance program has been initiated to assess the priority areas in more detail
- Drilling of priority targets is scheduled to commence in CY Q3/4 2023 once all regulatory approvals are received
CEO Jeremy Bower commented:
“RSC’s independent expert analysis confirms our belief that our landholding in the Gascoyne has the potential to host significant battery metal deposits.
Phase 1 of the assessment focused on the lithium potential at our Critical Elements Projects and has not only cemented Morrissey Hill as our primary lithium target but importantly has identified three new lithium target areas. Each of the areas are defined by the presence of a highly fertile parent granite and supported by key multi-element geochemistry including lithium, caesium, tantalum, tin and rubidium which are all well documented associations of lithium bearing “rare metal” LCT pegmatite mineral systems.
This is an exciting time for the Company and our shareholders, and we look forward to delivering updates to the market over the coming months. The Future is within Reach”.
Phase 1 of the assessment focused on the lithium potential of the Company’s Critical Elements Projects which includes the newly acquired Morrissey Hill and Camel Hill projects as well as the Wabli Creek project (Figure 1).
Figure 1: Critical Elements Projects
The assessment included a review of relevant deposit models and mineralisation styles of interest, regional and local geology, local mineral systems, academic papers, open file company and government reports and all available geochemical, geophysical and remote-sensed data sets.
Click here for the full ASX Release
This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Ionicre Raises $5.5 Million in a Placement
The Board of Ionic Rare Earths Limited (ASX: IXR) (“IonicRE” or “the Company”) announces it has received firm commitments to raise $5.5 million (before costs) by way of a share placement of approximately 423 million shares at $0.013 per share (“Placement”). The Placement was strongly supported by both key existing shareholders.
- IonicRE has received firm commitments to raise $5.5 million (before costs) in a Placement;
- Placement includes participation of $0.5 million from IonicRE Executive Chairman Mr Brett Lynch, further to his recent $1.5 million investment on joining the Company in January 2024;
- Funds raised will support:
- Advancing Ionic Technologies’ magnet recycling technology and enhancements to its Magnet Recycling Demonstration Plant, currently producing separated magnet rare earth oxides (REOs) in Belfast, UK, along with the completion of a Feasibility Study for a full-scale plant, expected mid 2024; and
- Advancing offtake and financing discussions presently underway at the Makuutu Ionic Adsorption Rare Earths Project, where the demonstration plant at site is producing mixed rare earth carbonate (MREC) which will be evaluated by several parties to advance offtake negotiations.
Managing Director Tim Harrison commented,“We have received such a significant amount of interest from various magnet manufacturers, alloy makers and OEM’s who are interested in utilising our world-class magnet rare-earth recycling technology for access to secure, sustainable, and traceable rare earth supply. Demand at our operational demonstration plant in Belfast is now full for the next 18 months with potential partner trials advancing to plan.”
“Further, our upstream project, the Makuutu Rare Earth Project, is also advancing well with several offtake negotiations with partners who will be evaluating our MREC being produced at the Makuutu demonstration plant. We are on the verge of a tangible increase in shareholder value. We greatly appreciate the support of existing shareholders with funding this placement.”
Placement Details
The Company has received binding commitments from existing sophisticated investors to raise $5.5 million (before costs) through the issue of 423,076,923 fully paid ordinary shares (“Shares”) at an issue price of $0.013 per Share (“Placement”). Participants will receive 3 free attaching unlisted options for every 4 shares issued with an exercise price of $0.02 (being a 54% premium to the issue price of Shares under the Placement) and a 4-year term which will see 317,307,690 unlisted options (“Options”). 216,967,454 free attaching unlisted Options will be issued utilising the Company’s existing placement capacity pursuant to Listing Rule 7.1, with the balance to be issued subject to shareholder approval.
The issue price under the Placement represents a 25.3% discount to the volume weighted average price ("VWAP") of IonicRE shares over the past 10 trading days. Shares issued under the Placement will be issued utilising the Company’s existing placement capacity pursuant to Listing Rule 7.1 and are expected to be issued on or about Wednesday, 1 May 2024. The Shares issued under the Placement will rank equally with IonicRE’s existing Shares quoted on the ASX.
Mr. Brett Lynch, IonicRE’s Executive Chairman, will subscribe for 38,461,539 Shares ($500,000) under the Placement plus 28,846,154 free attaching Options with an exercise price of $0.02 and a 4-year term, subject to receiving approval at a general meeting of shareholders to be held this quarter. This is in addition to Mr Lynch’s $1.5 million equity investment in January 2024 when he joined the Board of the Company.
Canaccord Genuity (Australia) Limited and MST Financial Services Pty Limited acted as Joint Lead Managers to the Placement, with Canaccord acting exclusively as Global Coordinator and Sole Bookrunner (Global Coordinator) to the offer.
Use of Funds
It is the intention of the Company to use the funds raised under the Placement to advance the commercial partnership negotiations, magnet recycling demonstration plant enhancements and the completion of the feasibility study at Ionic Technologies, plus activity at the Makuutu demonstration plant tied to offtake negotiations and working capital.
The Joint Lead Managers will be entitled to receive a fee equal to 6% of the Placement proceeds, excluding the amount subscribed by Mr. Brett Lynch. Subject to shareholder approval, the Company proposes to issue 20 million unlisted options to the Joint Lead Managers with an exercise price of $0.02 and expiring 4 years after the date the options are issued.
All amounts are in Australian dollars unless otherwise specified.
Nothing contained in this announcement constitutes investment, legal, tax or other advice. Investors should seek appropriate professional advice before making any investment decision.
Click here for the full ASX Release
This article includes content from Ionic Rare Earths, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
ChemX Materials: Developing Innovative Processing Technology to Produce High Purity Alumina
ChemX Materials (ASX:CMX) develops innovative processing technology to produce high purity alumina for advanced technology and clean energy applications. The company's 100 percent owned, Australian patented HiPurA® process technology offers a low cost and energy intensity production method to produce high purity alumina (HPA).
HPA is used in advanced technology and clean energy applications including lithium-ion batteries, LEDs, semiconductors and synthetic sapphires. Synthetic sapphires are critical in the production of applications such as smart watches, iPhones and laptop screens.ChemX Materials is also developing a high purity manganese project. The Jamieson Tank project is located on two exploration tenements, EL 5920 and EL 6634 in the Eyre Peninsula in South Australia. These tenements collectively cover an area of 718 km2.
ChemX Materials completed a 94-hole drill program at the Jamieson Tank project, totaling 6,164 metres and released its maiden Mineral Resource Estimate in September 2023. The Mineral Resource Estimate reported 13.1 Mt at 5.7 percent manganese, with 21 percent classified as Indicated and 79 percent classified as Inferred.
Company Highlights
- ChemX Materials Limited (ChemX Materials) is an Australian company developing an innovative, processing technology to produce high-purity alumina (HPA), this process is called HiPurA®.
- ChemX Materials owns 100 percent of HiPurA® and was granted an Australian patent for this technology in January 2024.
- High purity alumina is used in advanced technology and clean energy applications including lithium-ion batteries, LEDs, semiconductors, smart watches and iPhones.
- The HiPurA® process is modular, scalable and uses a readily available aluminous chemical as its feedstock, therefore is not reliant on mine production offtake, all of which enable the technology to be deployed close to end users' manufacturing operations.
- ChemX Materials has proven HiPurA® can produce above 4N (99.99 percent) high purity alumina at micro plant scale. This testwork indicates HiPurA® is low in cost and energy intensity.
- ChemX Materials is constructing a pilot plant to demonstrate HiPurA® can work at scale, which is the next step towards commercialisation. The pilot plant construction is underway and on track for commissioning in June 2024.
This ChemX Materials profile is part of a paid investor education campaign.*
Click here to connect with ChemX Materials (ASX:CMX) to receive an Investor Presentation
Massive Maiden Mineral Resource Estimate >1B Tonnes for EMA Rare Earth Project
Brazilian Critical Minerals Limited (ASX: BCM) (“BCM” or the “Company”) is pleased to announce a maiden Mineral Resource Estimate (MRE) for the Ema and Ema East projects (collectively Ema), forming part of the Company´s wholly owned REE projects, Apuí, Amazon, Brazil (Table 2) at a cut-off of 500ppm the Inferred Mineral Resource Estimate contains 1,017Mt @ 793 ppm TREO.
Highlights
- JORC 2012 compliant Inferred Mineral Resource Estimate (MRE) of 1.02Bt @ 793ppm TREO, including a higher-grade portion of 331Mt @ 977ppm TREO
- Places Ema as one of the largest1 tonnage fully ionic clay, rare earth deposits in the world
- High magnetic REO (Nd, Pr, Dy, Tb) element proportion of 27 – 31% of basket positioning it as one of Brazil’s most enriched MREO deposits
- MRE developed from only 46% of the available area at Ema, with 107km2 available for further exploration
- The mineralisation is close to surface, amenable to low-cost open pit mining methods and remains open at depth and to the east and west
- Drilling program is now being designed to convert MRE from Inferred to Indicated and Measured categories
MRE when coupled with previously announced1 world class metallurgical testwork recovery results of the magnetic rare earth oxides (MREO), as listed below, confirm the following:
- 10 metres @ 76% Nd, 74% Pr, 47% Dy and 54% Tb from 10m (EMA-TR-101)
- 6 metres @ 66% Nd, 61% Pr, 56% Dy and 83% Tb from 10m (EML-TR-059)
- 13 metres @ 71% Nd, 62% Pr, 45% Dy and 52% Tb from 5m (TR-071)
- 5 metres @ 66% Nd, 66% Pr, 52% Dy and 55% Tb from 12m (TR-059)
- 10 metres @ 65% Nd, 61% Pr, 43% Dy and 50% Tb from 10m (TR-110)
- Ema is a fully ionic clay rare earth deposit – there is currently zero drilling into fresh rock
- Is amenable to a low cost REE metal recovery process – low reagent usage, high impurity removal in final product
- Recoveries achieved using standard weak ammonium sulphate leaching solution, pH 4, at ambient temperatures over low leach times of only 30 minutes duration
- Results demonstrate mineralisation is suited to low-cost processing through conventional processing facilities commonly used in China
Andrew Reid, Managing Director, commented:
“Today’s announcement is very important for the Company and our shareholders as it now sets us on a path towards development. This result places Ema as one of the largest ionic rare earths deposits in the world. The team has done a tremendous job in getting such a large MRE defined in less than 1 year, which now confirms the immense potential of the Ema project in Brazil.
Not only do we have a massive mineral resource of >1 billion tonnes but also significantly we have >300 million tonnes at grades close to 1,000ppm which will assist in generating positive financial cash flow models.
Opportunities to increase both grade and tonnage remain high due to the extremely conservative global specific gravity (SG) of 1.34 which was applied to the estimated volumes. Additional deeper, less weathered samples from the higher-grade horizon is expected to result in significantly higher sg’s.
With only 46% of the total area drilled, the team is confident of increasing not only tonnages but believes the opportunities to also increase the grade are well founded and will be tested through the next round of drilling commencing over the coming months. BCM is now well on its way to establishing the Company as a global rare earths leader.”
Click here for the full ASX Release
This article includes content from Brazilian Critical Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
ChemX Materials
Overview
ChemX Materials (ASX:CMX) is a critical materials company developing innovative processing technology to produce high purity alumina for advanced technology and clean energy applications.
ChemX Materials’ 100 percent owned, Australian patented HiPurA® process technology offers a low cost and energy intensity production method to produce high purity alumina (HPA).
HPA is used in advanced technology and clean energy applications including lithium-ion batteries, LEDs, semiconductors and synthetic sapphires. Synthetic sapphires are critical in the production of applications such as smart watches, iPhones and laptop screens.Company Highlights
- ChemX Materials Limited (ChemX Materials) is an Australian company developing an innovative, processing technology to produce high-purity alumina (HPA), this process is called HiPurA®.
- ChemX Materials owns 100 percent of HiPurA® and was granted an Australian patent for this technology in January 2024.
- High purity alumina is used in advanced technology and clean energy applications including lithium-ion batteries, LEDs, semiconductors, smart watches and iPhones.
- The HiPurA® process is modular, scalable and uses a readily available aluminous chemical as its feedstock, therefore is not reliant on mine production offtake, all of which enable the technology to be deployed close to end users' manufacturing operations.
- ChemX Materials has proven HiPurA® can produce above 4N (99.99 percent) high purity alumina at micro plant scale. This testwork indicates HiPurA® is low in cost and energy intensity.
- ChemX Materials is constructing a pilot plant to demonstrate HiPurA® can work at scale, which is the next step towards commercialisation. The pilot plant construction is underway and on track for commissioning in June 2024.
Key Business Segments
High Purity Alumina Processing Technology - HiPurA®
ChemX Materials is developing an innovative processing technology to produce high-purity alumina (HPA). This process is called HiPurA®. ChemX Materials owns 100 percent and holds an Australian patent for HiPurA®. ChemX Materials has proven HiPurA® can produce above 4N (99.99 percent) pure HPA at micro plant scale. This test work has also demonstrated that HiPurA® is superior compared to alternative technologies, offering several advantages, including:
- Lower costs – both capital and operating.
- Independent feedstock - – process is not tied to mine production and uses a readily available aluminous industrial chemical.
- Easily scalable – production output can increase based on demand.
- Modular – can be built near end users’ manufacturing operations.
- Optionality – patented technology can be licenced to end users.
- Lower carbon footprint – technology is not energy intensive.
HPA has several applications, the most important being lithium-ion batteries used in electric vehicles (EVs) and energy storage applications. HPA is used in the coating of the battery separator to enhance safety and performance. The outlook for EVs is very promising. With the adoption of EVs growing rapidly year on year as governments across the globe deploy domestic incentives and regulations to reduce the use of internal combustion engines to meet net zero targets.
HPA is also a key in the production of synthetic sapphire, which is used in LEDs, semiconductors, lasers, optical lenses and medical devices.
ChemX Materials has proven its HiPurA® technology can achieve above 99.99 percent (4N) HPA purity at micro plant scale. Following the technical success of the micro plant, ChemX Materials is constructing a 24 tpa pilot plant in Western Australia. The pilot plant is expected to be operational in June 2024.
In January 2024, ChemX Materials was granted an Australian Patent for its innovative HiPurA® technology. Based on the success of the Australian patent, it is anticipated that ChemX Materials will be afforded similar protections in other international jurisdictions. The patent is important as it provides intellectual property protection as ChemX Materials seeks to commercialise the technology globally.
HPA production from the pilot plant will be used for customer qualification and marketing purposes. ChemX Materials is actively pursuing commercial opportunities globally. Commercialisation options include:
- Build, own, operate a commercial scale plant to sell high purity alumina to end users.
- Licence the HiPurA® technology for deployment at end users’ manufacturing locations.
High Purity Manganese Project
ChemX Materials is developing a high purity manganese project. The Jamieson Tank project is located on two exploration tenements, EL 5920 and EL 6634 in the Eyre Peninsula in South Australia. These tenements collectively cover an area of 718 km2.
ChemX Materials completed a 94-hole drill program at the Jamieson Tank project, totaling 6,164 metres and released its maiden Mineral Resource Estimate in September 2023. The Mineral Resource Estimate reported 13.1 Mt at 5.7 percent manganese, with 21 percent classified as Indicated and 79 percent classified as Inferred.
High purity manganese has essential applications in lithium-ion batteries as a cathode material. Manganese provides energy density, stability and lower costs and is a critical material for modern battery chemistries. As the world pursues decarbonisation it is forecasted that the demand for manganese will grow.
With the objective of the United States Inflation Reduction Act (IRA) to reduce its reliance on Chinese sources of critical minerals, by 2025, the Jamieson Tank project is an important prospect. China currently supplies around 95 percent of the global manganese sulphate.
The South Australian jurisdiction offers excellent infrastructure. The Jamieson Tank project is in a province that is characterised by rapidly growing renewable energy infrastructure (wind, solar and hydrogen) and access to a local skilled workforce. The Jamieson Tank project is accessible by road, approximately 160 kms from the port of Whyalla and near a major regional airport.
The tenements in which the Jamieson Tank project is located also host kaolin and rare earth elements (REE) deposits. The area has historically been well known and explored for its potential for kaolin. The Kelly Tank exploration target is estimated to be 55 - 130 Mt of extractable kaolin.
In 2022, ChemX Materials undertook a drilling program and identified REE hosted within the kaolin throughout the tenements. The drilling program intersected high-grade REE mineralisation with intervals of up to 5 metres @2,468 parts per million total rare earth oxides from 7 metres. Importantly, it remains open in various directions, providing potential exploration upside for future drill programs.
Management Team
Peter Lee – Chief Executive Officer
20+ years’ experience across mining, metals processing and chemical industries within Canada and Australia. Lee has held technical leadership roles with companies including Rio Tinto, BHP, Roy Hill and WSPGolder. He is an expert in refining and electrochemical processes and a registered P. Eng Engineers and Geoscientists of British Columbia, Canada, and a member of AusIMM and AICD.
Warrick Hazeldine – Non-executive Chair
Warrick Haseldine has more than 20 years of experience across capital markets and strategic communications with a focus on battery materials. He is the co-founder of advisory firm Cannings Purple, and former chair and non-executive director of Global Lithium Resources Ltd (ASX:GL1). Hazeldine is currently a director of Surfing WA, advisory board member of Curtin University, and a non-executive director of Purple.
Stephen Strubel – Executive Director and Company Secretary
Stephen Strubel is the company founder with 20 years’ experience in finance and corporate governance. Struber held a senior leadership role with Patersons Securities and has been a director and company secretary for ASX-listed companies. He holds a bachelor’s degree in banking and international trade from Victoria University and an MBA from the Australian Institute of Business.
Alwyn Vorster – Non-executive Director
Alwyn Vorster has 30+ years’ experience in the resources industry, spanning several commodities including rare earths, iron ore, bauxite, potash and salt. Vorster has several senior leadership positions including chief executive officer of Hastings (ASX:HAS) and managing director of BCI Minerals (ASX:BCI) and Iron Ore Holdings (ASX:IOH). Vorster is currently non-executive director of Lindian Resources (ASX:LIN) and Arrow Minerals (ASX:AMD).
Rock Chips of up to 3.22% TREO Identified in Newly Granted Machinga Licence
Heavy rare earths (HREE) and Niobium (Nb) explorer DY6 Metals Ltd (ASX: DY6) (“DY6”, “the Company”) is pleased to announce the receipt of the assay results for the second comprehensive reconnaissance rock chip and soil sampling program completed at Machinga Main Licence Area Anomaly (Figure 1).
HIGHLIGHTS
- Sampling program consisting of a total of 727 rock chips and soil samples recently completed into recently granted licence area at Machinga
- Full assay results received from soil and rock chip sampling program at Machinga:
- 305 soil samples were taken on a 200m x 100m grid
- Assays returned up to 0.49%TREO
- 21% of all soil samples returned >1000ppm (>0.1%) TREO
- 422 rock chip samples were taken on a nominal 50 x 50m grid
- Assays returned up to 3.22% TREO, with 5 samples returning 1%+ TREO
- Rock chips also returned up to 0.75% Nb2O5
- 305 soil samples were taken on a 200m x 100m grid
- Two anomalies west of the main road of the newly granted licence show a much more continuous character of higher TREO results - highlighting the scale potential of REE mineralisation in this new area of the licence
- Assays will assist in refining targets ahead of next phase of drilling at Machinga
Machinga Soil and Rock Chip Sampling Program
Following on from the DDH assays reported in December 2023, DY6 conducted a comprehensive geochemical sampling over the Machinga exploration licences (EL0705/EL0529) initially, targeting the western side of the maiden drilling in Area 1 and 2 in licence EL0529 before moving to the anomalous soil responses in the southern region of Machinga main (EL0705) (Figure 1). The program consisted of a total of 727 samples which included 422 rock chips and 305 soils. The full list of assay results is included in Table 1.
Geochemical sampling was extended into the new licence and over the anomalous southern region covering and area of approximately 3000m x 2000m along a NW-SE strike direction. A previously reported extensive uranium radiometric anomaly, which spans over 7km along the same geological unit (refer ASX release dated 6 July 2023) is being targeted by the Company.
Click here for the full ASX Release
This article includes content from DY6 Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Rare Earth Elements Prices 101 (Updated 2024)
From electric vehicles and wind turbines to water treatment and nuclear power, rare earth elements (REE) are critical for many of the technologies necessary for a cleaner, greener economy and world. However, understanding pricing for these commodities can be tricky.
There are 17 rare earth minerals in all, and each is classified under different groups — typically light rare earths and heavy rare earths. Prices are available for multiple individual and mixed products, including for the rare earths used in permanent rare earth magnets, so it can all seem a bit overwhelming.
“The supply chain for rare earth materials and permanent magnets is complex, regionally concentrated and marked by a lack of transparent pricing,” according to international price reporting agency Fastmarkets. “This can lead to unpredictable costs, budgeting difficulties and supply insecurity. Geopolitical tensions further add to this uncertainty.”
Read on for a short introduction to the rare earth elements market and prices.
What is China's role in rare earths pricing?
First and foremost, it’s important to know that China is the main driver when it comes to REE prices and the rare earths market as a whole. The country is the world’s leading rare earths producer by a wide margin, and despite efforts elsewhere also controls about 87 percent of global rare earths refining capacity.
China has such a monopoly on the sector that REE prices spiked in 2010 and 2011 when the country cut exports. That sparked a boom for rare earths companies and mining projects around the world, as they sought to create reliable sources of rare earths supply outside of China. However, many failed to thrive when REE prices fell again.
In 2014, the World Trade Organization ruled against Chinese export quotas for rare earths, and China removed its industry caps in January 2015. The country also eliminated its export tariffs for rare earths in May 2015, leading to a further fall in REE prices. More recently, it banned the export of technology to make rare earth magnets.
The ongoing trade war between the US and China adds a layer of complication to the rare earth metals sector. Recognizing China's key place in the market, the US is undertaking various efforts to build its own supply.
In February 2021, US President Joe Biden signed an executive order aimed at reviewing shortcomings in the nation's domestic supply chains for rare earths, medical devices, computer chips and other critical resources. The next month, the US Department of Energy announced a US$30 million initiative to research and secure domestic supply chains for rare earths, along with battery metals such as cobalt and lithium.
In June 2022, Biden went even further, invoking the Defense Product Act to increase the domestic production of critical minerals such as rare earths, as well as to fund feasibility studies and expand existing resources. Furthermore, in September 2022, the Biden government announced US$156 million in funding to support the creation of "first-of-a-kind facility to extract and separate REEs and critical minerals from unconventional sources like mining waste."
Later, in July 2023, the Department of Energy put up US$32 million to build facilities for the production of REEs and other critical minerals from domestic coal-based resources.
Even with these efforts, China remains the heavyweight for now, so it’s important that investors interested in the rare earths space keep track of what the country is up to in terms of production.
Where to find rare earths prices?
Unlike prices for gold and silver, rare earth elements prices are hard to come by, as there is no widely used public exchange for rare earths. Firms such as Fastmarkets put out regular price assessments based on surveys of traders, consumers and other market participants; this information is available for a fee.
Price forecasts and other information can also be found via analyst firms and pricing forums such as Adamas Intelligence, Argus Media, Technology Metals Research and Asian Metal.
Which rare earths are the most important?
Rare earths are used in a range of different technologies, and demand is higher for some than others. They can be divided into “heavy” and “light” categories based on atomic weight, with heavy often being more sought after.
That said, light rare earths can be important too. Neodymium and praseodymium, used in rare earth magnets, fall into the light category. These and other elements used in rare earth permanent magnets, such as dysprosium, can be quite expensive. Neodymium and praseodymium have also been in the spotlight due to electric vehicles.
The concentration of different rare earths varies within each given deposit, but usually a deposit is dominated by either heavy or light rare earths, with some elements being much more abundant. Cerium, for example, is the most abundant rare earth, and is more plentiful in the Earth’s crust than copper.
Both cerium and lanthanum, used in things such as alloys in steelmaking and industrial catalysts, are oversupplied. As a result, they are priced quite a bit lower than most rare earth magnet materials.
Another group of rare earths to consider is those used in phosphors, or phosphorescent materials, which are the active component that adds color in fluorescent light bulbs and other lighting applications. Yttrium is fairly inexpensive when compared to more rare and therefore more expensive metals such as europium and terbium.
Rare earth concentrates and pricing
Think rare earths are easy to separate? Think again.
As mentioned, rare earths deposits contain various types of rare earths, not to mention a range of other impurities such as uranium and thorium, which can be troublesome to dispose of. The separation process can be difficult and lengthy, and so far separators outside of China have not managed to undercut producers within the country.
The best-known producer of separated rare earths outside of China is Lynas Rare Earths (ASX:LYC,OTC Pink:LYSCF), which owns and operates the Mount Weld mine in Western Australia and a separation facility in Malaysia. In 2023, Lynas received a US$258 million contract from the US Department of Defense to build a rare earths separation facility in Texas.
At the moment, California's Mountain Pass operation, owned by MP Materials (NYSE:MP), is the only working US rare earths mine and processing facility. The facility, which has a storied history, produces high-purity separated rare earth oxides, including lanthanum, cerium and neodymium-praseodymium oxide.
Other big companies developing REE separation operations include Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU). In Utah, the firm is completing Phase 1 REE separation infrastructure at its White Mesa mill, which will result in separated neodymium-praseodymium capacity of 800 to 1,000 metric tons per year.
According to Adamas Intelligence, "Elsewhere, projects across Sweden, South Africa, Australia and other countries aim to extract rare earths from mine waste and byproducts that could supply 8% of global demand successful."
It’s important to keep in mind that rare earths within a mixed concentrate won’t fetch as high a price as those that are already separated. When looking at technical reports from junior miners, be sure to check that companies have accounted for this discount when calculating their rare earths basket price, which is the price for all the rare earths bundled into a single number based on the distribution of different rare earths within the deposit.
This is an updated version of an article originally published by the Investing News Network in 2015.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Energy Fuels is a client of the Investing News Network. This article is not paid-for content.
Latest News
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.