Updated Resource and significant change in project scale provides catalyst for staged development approach commencing with initial DSO phosphate fertiliser phase.
Highlights
- Recent Mineral Resource update confirms scale and significance of the Cummins Range Rare Earths Phosphate Project.
- New development concept highlights potential for a fast-tracked DSO phosphate fertiliser stage (Stage 1), as a catalyst for the rare earth stage.
- Stage 1 would be followed by phosphate, and subsequently rare earth, beneficiation (Stages 2 & 3).
- Stage 1 studies are being fast tracked whilst Stages 2 & 3 are following a more traditional PFS>DFS approach.
- RareX will continue to assess the development of a large and strategic, domestic, rare earth value chain as part of Stage 3.
- RareX’s leadership team restructured to progress this simplified development plan.
- Updated global Mineral Resource due in late April 2023, to be followed shortly by a revised Scoping Study encompassing the new 3-Stage, DSO-catalysed development approach.
RareX limited (ASX: REE, RareX or the Company) is pleased to provide an update on the development strategy for its 100%-owned Cummins Range Phosphate-Rare Earths Project (Cummins Range, the Project), located just south of Halls Creek in the Kimberley region of Western Australia following the recent Mineral Resource update and key director and management changes.
The recent Mineral Resource update, to be followed by a further significant Resource update due by late April 2023, underpins a re-framing of the Project as a highly significant phosphate-hosted rare earths deposit commencing from surface.
