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RareX

ASX:REE

Advancing the Cummins Range Rare Earths in Western Australia

Company Highlights


  • RareX aims to become a leading producer and supplier of key rare earth elements such as neodymium-praseodymium which are needed for the manufacturing of Rare Earth Permanent Magnets (REPM).
  • The company's fully-owned flagship Cummins Range Rare Earths project is a globally-significant, potentially low CAPEX and advanced rare earth project. The project has a significant maiden JORC 2012 inferred and indicated mineral resource of 18.8Mt at 1.15% TREO (inc. 0.23% NdPr) + 0.14% Nb2O5 including a high-grade resource of .5Mt at 1.98% TREO (inc. 0.38% NdPr) + 0.21% Nb2O5
  • RareX is currently completing a significant exploration and resource expansion program targeting primary mineralisation for the first time at Cummins Range
  • RareX provides shareholders access to high-potential copper and gold projects in the Lachlan Fold Belt with its NSW Copper Gold projects
  • RareX's Cummins Range Rare Earths project is near prospective and productive mines including Browns Range Rare Earth owned by Northern Minerals (ASX:NTU) and the operating Nicholson Gold mine owned by Pantoro (ASX:PNR).
  • RareX hold significant equity investments in Kincora Copper Limited, Canada Rare Earths Company and Cosmos Exploration
  • The company boasts a strong management team with more than 30 years of experience in rare earth metal discovery. RareX is led by the current management of EAU Mining and Met-Chem Consulting and former management of Primero Group (ASX:PGX), Peak Resources (ASX:PEK), Arafura Resources (ASX:ARU) and Titan Minerals (ASX:TTM).
Press Releases


Overview

As governments and companies in Europe, Australia and the United States commit towards the clean energy movement, the demand for rare earths is projected to increase at a CAGR of seven percent through 2030. Rare earths are a group of 17 elements essential to the new world economy –– used in everything from electric vehicles and wind turbines to advanced weapons systems.

Among the most valuable applications of rare earths is its use in Rare Earth Permanent Magnets (REPMs) that account for 90 percent of the sector's value. REPMs are used largely for electric vehicles and wind turbines. Demand for REPMs are expected to increase at a CAGR of 10 percent through 2030, which is even higher than the demand projection for the rare earth industry. As a result, companies with rare earth elements used in the production of REPMs may present an exciting opportunity for investors seeking to capitalize on the market's projected growth.

RareX (ASX:REE) is an exploration company focused on developing rare earths deposits in Australia. The company aims to become a leading producer and supplier of key rare earth elements such as neodymium-praseodymium which are needed for the manufacturing of Rare Earth Permanent Magnets (REPM).

RareX's project portfolio includes its flagship Cummins Range Rare Earths and its NSW Copper Gold JV with Kincora Copper Limited. The company's fully-owned flagship Cummins Range Rare Earths project is a globally-significant advanced rare earth and niobium project located in the tier 1 mining jurisdiction of Western Australia. The company recently published a significant maiden JORC 2012 inferred and indicated mineral resource of 18.8Mt at 1.15% TREO (inc. 0.23% NdPr) + 0.14% Nb2O5 including a high-grade resource of .5Mt at 1.98% TREO (inc. 0.38% NdPr) + 0.21% Nb2O5. RareX is currently completing a significant exploration and resource expansion program targeting primary mineralisation for the first time at Cummins Range

RareX's NSW Copper Gold JV projects provide shareholders with access to high-potential copper and gold projects in the Lachlan Fold Belt in New South Wales.

The Cummins Range project is strategically located in the East Kimberley region on Western Australia near the prospective Browns Range Rare Earth mine owned by Northern Minerals (ASX:NTU) and the operating Nicholson Gold mine owned by Pantoro (ASX:PNR).

The company has developed a low CAPEX development strategy for the Cummins Range Rare Earths project. The low CAPEX strategy involves producing an economically-valuable monazite concentrate and marketing it to refineries in Australia, Southeast Asia and China. RareX is already in the process of proposing facilities that can produce its monazite. Additionally, the project may provide a potential open-pit mining scenario which will further lower its CAPEX.

RareX is committed to an ESG framework that adopts the World Economic Forum (WEF) guidelines for sustainably supplying critical and rare earth metals needed for decarbonization of the global economy and technical applications. The company's ESG framework includes developing the Cummins Range project in a responsible and balanced manner, with due regard for safety, corporate governance, the environment, Indigenous relationships and other important ESG factors.

The company boasts a strong management team with more than 30 years of experience in rare earth metal discovery. RareX is led by the current management of EAU Mining and Met-Chem Consulting Pty Ltd. and former management of Primero Group (ASX:PGX), Peak Resources (ASX:PEK), Arafura Resources Ltd. (ASX:ARU) and Titan Minerals (ASX:TTM). The company's team also features members on the boards of AAEMEG and the Australian Institute of Company Directors.

Company Highlights


  • RareX aims to become a leading producer and supplier of key rare earth elements such as neodymium-praseodymium which are needed for the manufacturing of Rare Earth Permanent Magnets (REPM).
  • The company's fully-owned flagship Cummins Range Rare Earths project is a globally-significant, potentially low CAPEX and advanced rare earth project. The project has a significant maiden JORC 2012 inferred and indicated mineral resource of 18.8Mt at 1.15% TREO (inc. 0.23% NdPr) + 0.14% Nb2O5 including a high-grade resource of .5Mt at 1.98% TREO (inc. 0.38% NdPr) + 0.21% Nb2O5
  • RareX is currently completing a significant exploration and resource expansion program targeting primary mineralisation for the first time at Cummins Range
  • RareX provides shareholders access to high-potential copper and gold projects in the Lachlan Fold Belt with its NSW Copper Gold projects
  • RareX's Cummins Range Rare Earths project is near prospective and productive mines including Browns Range Rare Earth owned by Northern Minerals (ASX:NTU) and the operating Nicholson Gold mine owned by Pantoro (ASX:PNR).
  • RareX hold significant equity investments in Kincora Copper Limited, Canada Rare Earths Company and Cosmos Exploration
  • The company boasts a strong management team with more than 30 years of experience in rare earth metal discovery. RareX is led by the current management of EAU Mining and Met-Chem Consulting and former management of Primero Group (ASX:PGX), Peak Resources (ASX:PEK), Arafura Resources (ASX:ARU) and Titan Minerals (ASX:TTM).

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