This is a brief update on ASX rare earth stocks. Read an overview of rare earths here and a brief summary of 8 ASX REE stocks here. This update covers 4 more advanced ASX REE stocks.

Company ASX Code Share Price (c) Shares on Issue (M) Market Cap (M) Project
American Rare Earth ARR 8.2 330 27 La Paz, Arizona
Ionic Rare Earths IXR 2.4 2760 66 Makuutu, Uganda
Pensana Rare Earths PM8 198 124 246 Longonjo, Angola
Rarex REE 12.5 409 51 Cummins Range, WA

American Rare Earths Ltd

The La Paz project is located 200km west of Phoenix in Arizona and is well located in terms of infrastructure. It hosts an indicated resource of 16.2Mt @ 373ppm REE and an inferred resource of 112Mt @ 372ppm REE. The elements in the resource are cerium, lanthanum, neodymium, praseodymium, scandium, yttrium and dysprosium.

The company is completing further drilling to identify higher grades and expects to complete a preliminary economic assessment in 2021.

Ionic Rare Earths Ltd

The company currently holds 51% of the Makuutu project and can earn up to 60%. The project is located about 120km east of Kampala and has excellent infrastructure. It hosts a resource of 78.6Mt @ 840ppm total rare earth oxide with an exploration target up to 500Mt. The mineralisation is of ionic adsorption clay type, similar to many deposits in southern China.

Ionic adsorption clay is a much more valuable product than REE produced from hard rock as it has low Ce and La which are low value REE’s. In addition, there are no radioactivity issues, unlike many hard rock deposits. The company intends to heap leach the resource using salt, such as ammonium sulphate and sulfuric acid. An updated scoping study is expected early in 2021.

Pensana Rare Earths PLC

The company holds the Longonjo project located in Angola. It hosts a resource of 313Mt @ 1.43% REO. It is situated 315Km from the nearest port and connected by rail. There is low cost hydropower readily available. The company intends to ship a concentrate from Africa to the Saltend Chemicals Park in England. Here it plans to produce up to 4,500tpa of high grade NdPr oxides.

The company expects BFS details within the next six months and to arrange financing. Site works are expected to commence at both locations during the same timeframe.

Rarex Ltd – (ASX: REE)

The company holds the Cummins Range project in the Kimbereley region of WA. It hosts a resource of 13Mt @1.13% TREO with significant exploration potential. About 22% of the resource is NdPr and it is very low in radioactivity.

The company is still drilling and getting some excellent results. Metallurgical testwork and a PFS will commence in 2021.

12 January 2021 Uncategorized