Matamec Explorations: Kipawa Rare Earths JV Update

Matamex Explorations (TSXV:MAT) announced that it is on track to complete all 2015-2017 objectives for its Kipawa rare earths joint venture project. Matamec owns 72 percent of the project.
As quoted in the press release:

At the formation of the JV in January 2015, the joint venture held funds of $ 4M CAD. As of March 31^st 2016, the JV has invested $1,970,000 CAD in reaching the objectives. The joint venture plans to invest the remaining $2,030,000 CAD over the next year in pursuit of its 2015-2017 objectives.
In the context of sustainable development, the success of the Kipawa rare earth project is contingent upon the completion of the following four undertakings: developing a technically robust metallurgical process flowsheet; achieving economic viability for the project; reaching environmental objectives; and obtaining social acceptability. The 2015-2017 objectives were established accordingly as follows:

1. Optimize metallurgical flowsheet;
2. Demonstrate the recovery of rare earths from silicate minerals on an industrial scale;
3. Evaluate opportunities to reduce the environmental footprint of the project;
4. Update Feasibility Study, previously published in October 2013;
5. Continue the social acceptance process with indigenous communities and local populations involved in the project;
6. Continue discussions with strategic financial and industrial partners.

Click here for the full press release.