Preliminary Economic Assessment Report Filed by Namibia Rare Earths

Namibia Rare Earths Incorporated (TSX:NRE) (OTCQX:NMREF) filed a National Instrument 43-101 technical report titled “Preliminary Economic Assessment on the Lofdal Rare Earths Project Namibia” (the “PEA”).

As quoted in the news release:

The PEA concludes that the Project currently has the potential to produce an average of 1,500 tonnes per annum of separated rare earth oxides (“REO”) which would generate after tax cumulative cash flow of US $259 million with a net present value 10% (“NPV”) of US$148 million and an internal rate of return (“IRR”) of 42%. The PEA indicates that there is considerable potential to expand the current mineral resource and recommends that additional drilling be carried out to provide for an extended mine life in conjunction with a six month Prefeasibility Study (“PFS”) program.

Click here to read the full news release.