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Namibia Rare Earths Inc. (TSX:NRE,OTCQX:NMREF) announced that it has started a preliminary economic assessment (PEA) on the Area 4 heavy rare earths deposit at its Lofdal asset, located in Northwestern Namibia.
Namibia Rare Earths Inc. (TSX:NRE,OTCQX:NMREF) announced that it has started a preliminary economic assessment (PEA) on the Area 4 heavy rare earths deposit at its Lofdal asset, located in Northwestern Namibia.
The company also said it has engaged Cutfield Freeman & Co. Ltd. as a financial advisor in order to explore strategic options and maximize shareholder value.
As quoted in the press release:
MDM Engineering of South Africa has been engaged as the principal consultant for the report which will provide an economic analysis of the potential viability of the current resources at Lofdal. Ongoing metallurgical test work has achieved increased recoveries and upgrades, indicating that the targeted mineral concentrate grade of 20% total rare earth oxides (‘TREO’) can be attained from low grade feed of 0.3% TREO. Lofdal represents a unique opportunity for the development of a significant heavy rare earth supply outside of China.
Click here to read the full Namibia Rare Earths Inc. (TSX:NRE,OTCQX:NMREF) press release.