Ionic Rare Earths Ltd (IXR) Core Investment Case UPDATE 15082023
Ionic Rare Earths Ltd (ASX:IXR) is a rare earths mining explorer (Uganda) and REO magnet recycling company (Belfast, UK). Rare earth elements primary use is in the production of permanent magnets – key components of clean energy applications (wind turbines and electric vehicles). IXR’s flagship Makuutu Rare Earths project is significant given its ionic adsorption clayhosted geology - similar to that found in projects in Southern China, main global supplier of Heavy Rare Earths. IXR currently holds 60% interest in the Makuutu project. Makuutu has a mineral resource estimate of 532 Mt @ 640 ppm Total Rare Earth Oxide (TREO) and Indicated Resource of 404 Mt @ 670 ppm TREO. In Sep22 IXR received a £1.72m grant from the UK government to develop its demonstration magnet recycling plant in Belfast, UK.
Oro Verde is engaged in the investment in the mining and resource sector. Co. is conducting exploration activities in Chile and continues reviewing opportunities for direct and indirect investment in the resources sector.
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