RareX Investor Presentation
Released
Released
Announcement PDF
RareX
Rare Earths
Cummins Range Project
Magnet RE and Battery P
James Durrant
March 2024
RE
57-71
Magnets
Strong Internal Team
Exploration, Engineering, BD
ASX: REE
rarex.com.au
Disclaimer &
Competent Persons’ Statements
Investor Relations
James Durrant
Chief Executive Officer
P: +61 8 6383 6593
E: info@rarex.com.au
Investor Hub
ree.investorhub.com/welcome
Media Enquiries
Nicholas Read
Read Corporate
P: +61 8 9388 1474
RareX HQ
L1, 338 Barker Rd,
Subiaco WA 6008
E: info@rarex.com.au
This presentation contains summary information about RareX Limited (REE) and is current as
of 26 March 2024 and is authorised for release by the Board. The information in this
presentation is of a general background and does not purport to be complete. This
presentation is not investment or financial product advice (nor tax, accounting or legal advice)
and is not intended to be used for the basis of making an investment decision. The information
contained in this presentation has been prepared without taking into account the objectives,
financial situation or needs of individuals. Investors should obtain their own advice before
making any investment decision. REE has prepared this document based on information
available to it at the time of preparation. No representation or warranty, express or implied, is
made as to the fairness, accuracy or completeness of the information, opinions and
conclusions contained in this presentation. For further information, please contact Chief
Executive Officer, James Durrant.
This presentation contains certain “forward-looking statements”. Forward looking statements
can generally be identified by the use of forward looking words such as, “expect”, “should”,
“could”, “may”, “predict”, “plan”, “will”, “believe”, “forecast”, “estimate”, “target” and other
similar expressions. Indications of, and guidance on, future earnings and financial position and
performance are also forward-looking statements. Forward-looking statements, opinions and
estimates provided in this presentation are based on assumptions and contingencies which
are subject to change without notice, as are statements about market and industry trends,
which are based on interpretations of current market conditions.
Forward-looking statements including projections, guidance on future earnings and estimates
are provided as a general guide only and should not be relied upon as an indication or
guarantee of future performance. This presentation contains statements that are subject to
risk factors associated with REE and the mining exploration industry. It is believed that the
expectations reflected in these statements are reasonable, but they may be affected by a
range of variables which could cause actual results or trends to differ materially. REE
disclaims any intent or obligation to publicly update any forward-looking statements, whether
as a result of new information, future events or results or otherwise.
To the maximum extent permitted by law, REE, their related bodies corporate (as that term is
defined in the Corporations Act 2001 (Cth)) and the officers, directors, employees, advisers
and agents of those entities do not accept any responsibility or liability including, without
limitation, any liability arising from fault or negligence on the part of any person, for any loss
arising from the use of the presentation or its contents or otherwise arising in connection with
it.
Competent Person’s Statement - Geology: The information in this presentation relating to the
Mineral Resource Estimate for the Cummins Range Rare Earths Project is extracted from the
Company’s ASX announcement dated 25 January 2024 which was reported in accordance with
Listing Rule 5.8. REE confirms that it is not aware of any new information or data that materially
affects the information included in the original announcement and that all material assumptions
and technical parameters underpinning the Mineral Resource Estimate continue to apply. The
Company confirms there have been no material changes to exploration results since first reported
in accordance with Listing Rule 5.8.
Competent Person’s Statement – Metallurgy: The information in this presentation relating to
metallurgy was first reported in accordance with Listing Rule 5.7 on 11 July 2023. REE confirms
that it is not aware of any new information or data that materially affects the information included
in the original announcement.
Competent Person’s Statement – Production Target and Forecast Financial Information: The
information in this presentation relating to production targets and forecast financial information
(FFI) was first reported on 22 August 2023. REE confirms that the material assumptions
underpinning the production target and FFI continue to apply and have not materially changed.
The production target is based on a portion of inferred resource. There is a low level of geological
confidence associated with Inferred Mineral Resources and there is no certainty that further
exploration work will result in the determination of Indicated Mineral Resources or that the
production target itself will be realized.
Global Resource (JORC 2012)
2.5% P2O5
Grade Cut
Tonnes
Mt
TREO
ppm
P2O5
%
NdPr
ppm
Nb2O5
ppm
HREO
ppm
Indicated
77.4
4,650
6.7
1,020
780
280
Inferred
446.9
2,860
4.2
620
550
170
Total
524.3
3,120
4.6
670
580
190
Drivers Behind RareX
Fundamental Belief in the Electrification of Things
and the Green Energy Revolution
Global net-zero ambitions
EU Net zero by 2050 – $3.8T by
20501
US net zero by 2050 - $30T by
20502
Australian critical minerals key
to the decarbonization of supply
chain3
Massive EV and wind
turbine investments
The generation and use of clean
energy involve key technologies
driving the critical metals boom for
RE magnets
Wind turbines
$1T surpassed in EV investment
by automotive manufacturers
$1.7T invested in clean energy
generation in 2023
$4T required annually – IEA5
Growing use in defence
applications: subs, planes, UAVs8
9% growth in defence spending
to a record $2.2T in 20237
Strategic, secure supply
required:
NAIF will not fund if using a
Chinese value chain
China’s labs mandated not to
help foreign RE projects
NdPr Demand Outlook6 to 2025
200,000
180,000
Electric Vehicles
Rare Earths in Defence
“If you believe in an increasingly digital world using
clean energy – then you have to believe in the growth
of rare earths.”
Sources:
1: https://www.weforum.org/agenda/2022/04/bnefeuropean-energy-transition-2022/
2: https://about.bnef.com/blog/report-shows-thatinflation-reduction-act-alone-wont-set-united-stateson-track-for-netzero/#:~:text=To%20get%20on%20track%20for,rapidl
y%20cut%20down%20on%20emissions.
3: https://www.globalaustralia.gov.au/industries/netzero/critical-minerals
5: https://www.canarymedia.com/articles/cleanenergy/chart-clean-energy-investment-to-hit-1-7twidening-lead-on-fossil-fuels
6: Project Blue Energy Transition Outlook to 2025,
November 2023
7: https://www.aljazeera.com/news
8: https://www.defense.gov/News
Rapid NdPr supply growth
required to meet NdPr
demand forecast:
2 folds by 2035
3 folds by 2050
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
2010
2015
2020
2023
2025
2030
NdPr Demand [tpa]
2035
2040
2045
2050
Corporate Snapshot
Leveraged to:
Rare earth price improvement
Increasing portfolio project definition
Growing value of investments
Capital Structure
ASX Code
Share Price (22.03.2024)
Shares on Issue
Market Capitalisation
REE
A$0.017
683M
A$11.6M
Cash (December Qtr)
Investments (December Qtr)
A$2.9M2
A$5.02M
Key people
Chairman
CEO
Jeremy Robinson
James Durrant
Note:
1: Plus project level royalty
2: Includes R&D rebate of $1.97M
~37%
~5,200
Simon Lee AO (c.5.2%)
Jeremy Robinson (c.4.3%)
Top 50 Shareholders
Number of Shareholders
Major Shareholders
NdPr Oxide Pricing
Asian Metals, EXW China (USD/kg)
Share Price Information
ASX: REE
Adamas 2027
Price Forecast
U$120/kg
0.08
140
0.07
120
0.06
Major Assets
Cummins Range Project
RareXploration tenements
Kincora Copper
Cosmos Exploration Limited
Canada Rare Earths Corp
Various rare earth exploration projects
Shareholders
100%
100%
45M shares1
10M shares
25M shares
100%
100
0.05
20 Mar 2024
U$48.27/kg
0.04
60
0.03
22 Mar 2024
Prev Close:
0.017
0.02
0.01
Nov 2022
80
Mar 2023
Jul 2023
Nov 2023
40
20
Mar 2024
RareX Value Proposition
Maximum exposure to a return in the sentiment
1
2
Cummins Range Project
Magnet RE and Battery P
Australia’s largest undeveloped rare
earths project
24Mt – Contained P2O5
1.6Mt – Contained rare earths
Near mine exploration targets
Carbonatite cluster theory
All within 5km radius
Drill testing in 2024
Strong financials with scale driven
upside
IRR – 39% pre-tax, 27% post-tax
NPV– $549M pre-tax, $333M post-tax
Supply-chain bulk ready - under contract
Australia
Red Dragon
Mt Mansbridge
Maude Creek
Canada
Proximate to domestic and
N-American end markets
Reliable low-cost energy
Undervalued advanced
projects
Kingdom of Saudi Arabia
Proximate to domestic and
European end market
Reliable low-cost energy
Under explored; first mover
advantage
3
Team able to discover, engineer,
approve, fund and deliver
Action orientated board
Cameron Henry – Process plant construction
Danny Goeman – Marketing, sales & shipping
Jeremy Robinson – Corporate finance
John Young – Mine developer
Shaun Hardcastle – Corporate Lawyer
Strong internal capability & IP
James Durrant – Mining ops & projects
Kay Hofmann – Mining ops & approvals
Guy Moulang – Exploration & Discovery
Greg Wynne – Mine and exploration geology
Lu Zhang – Metallurgy & Process
Al Harvey – Exploration geology
Tier 1 experience
BHP, Rio Tinto, FMG, MinRes, Pilbara Lithium,
Primero, Mets Engineering
Cummins
Range
Project
Critical Minerals
for the Electric
Revolution
* https://www.fortunebusinessinsights.com/lithium-ionli-ion-phosphate-batteries-market-102152
57-71
15
Rare Earths
Phosphorus
RE P
“Cummins Range offers a poetic
discovery beyond rare earths, in
complementary phosphate for
the LFP battery sector – a sector
growing from $10 billion in 2021
to $50 billion by 2028*”
2024 JORC Resource
44Mt @ 1.0% TREO core + P2O5
In total: Australia’s largest undeveloped rare earths project
Total of 524.3Mt @ 4.6% P2O5, 0.31% TREO
1.6M tonnes contained TREO; 24Mt contained phosphate
Comparable resource to peer group and growing:
Australia’s 3rd largest undeveloped rare earths project
Significant upside in scale from nearby anomalies
Cummins Range High Grade Resource vs. Peers
BFS
500
$462M
Tonnes, Mt
Tonnes Contained, Mt
70
Market Cap, AUD (22.03.2024)
60
BFS
50
40
300
Exploration
BFS
30
$195M
250
200
150
20
$63M
10
0
400
350
PFS
$232M
450
Market Cap, AUD
80
$80M
BFS
50
$12M
Dubbo
0.9% TREO
Nolans Bore
2.6% TREO
Cummins Range
1.0% TREO
Sources:
See slide: List Of Sources For Grade And Resource Graphs
100
Yin & C3
1.0% TREO
Yangibana
0.9% TREO
Browns Range
0.8% TREO
0
“Geophysics surveys show potential to
expand the regional resource base”
Offtake – Rare Earths
Pending product samples
Offtake - Phosphate
MOU complete
Bulk Loading Facility
Infrastructure sharing Term Sheet
Wyndham
Port
4 Ha strategic industrial land
Held under Option
Kununurra
Bulk Haulage JV Agreement
Term-sheet agreed
Ord River
Hydro Plant
Mineral
Corridor
535km
Halls Creek
Access Road
Seeking government funding
RareX Project
Cummins Range
Local training agreement with EKJP
In final negotiation
Tanami Road
Being sealed to Alice Springs
Jaru Mining Heritage Agreement
In final negotiation
Cummins Range
Flagship Snapshot
Financial
NPV8 post-tax:
IRR post-tax:
Initial Capex:
Stage 2 Capex:
EBITDA:
Asia-Pacific offtake focus
AU$ 333M
27%
AU$ 45M
AU$ 304M
AU$ 1.5B
Conservative cost inputs
20% capital contingency
5% pa deployed capital sus-cap
Government taxes and royalties
Native title contributions and
royalties
Mine closure $41M
Pricing aligned to conservative
forecasts
US $110/kg NdPr oxide
US $250/t 32% P2O5
Discounted for incentivisation and
value chain position:
REO: 80% basket discount
P2O5: 10% discount
Multiple monazite refineries
Emerging domestic capability
Government support for sovereign
value chain
Dual mineral concentrate
Single bulk product offering from
Wyndham port, north WA
High NdPr, Low UTH grading
monazite
Clean apatite phosphate mineral
able to be leached
Alternative monazite
single mineral concentrate
Feed potential for domestic
refineries
Phosphate by-product
20x ROM upgrade demonstrated
Sources:
ASX Announcement 22 August 2023. The information in this presentation relating to production targets and forecast financial
information (FFI) was first reported on 22 August 2023. REE confirms that the material assumptions underpinning the production
target and FFI continue to apply and have not materially changed. The production target is based on a portion of inferred resource.
There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further
exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised.
Favourable Project Metrics
Radionuclides Comparison
Total LOM Production Forecasts
3.5%
2.9%
31.7
2.8%
29.5
24
2.1%
20.9
16
8
0
18.9
0.9%
0.7%
1.4%
0.9%
0.7%
3.3
Cummins Range
Nolans Bore
Yangibana
Tonnage, Mt
Dubbo
Browns Range
0.7%
TREO Grade, %
Total Forecast Production, Mt
32
0.0%
TREO Output, ktpa
1,200
659
800
400
153
Nolans Bore
527
254
25
Mt Weld
Yangibana
375
120
Dubbo
48
28
30
24
Cummins Range Browns Range
Scoping study modelled 31.7Mt @ 0.7% TREO from Cummins Range1
1.08B
1.20
0.90
8
0.60
0.42B
0.29B
0.22B
0.30
Nolans Bore
Dubbo
“simpler, faster, staged”
TREO Output, ktpa
CAPEX, USD Billion
Browns Range
Low capital intensity
CAPEX, USD
1.14B
12
Yangibana
1,600
Cummins Range comparable with peers
1.50
Cummins Range
Th, ppm
2,000
0
Annual TREO Output vs. Development CAPEX
0
U, ppm
TREO Grade, %
16
4
2,373
2,400
Radionuclide Level, ppm
40
Efficiency of capex deployment2 - AU$ 350M capex 12 ktpa TREO and 169 ktpa
of P2O51
One of the lowest radionuclide deposits
Mineral concentrate well below DG limit, safer operation and product transport.
0.00
Note:
1: ASX 22 August 2023: inventory estimated based on 2023 scoping study, further evaluation work and appropriate studies are
required for RareX to estimate any Ore Reserves or to provide any assurance of an economic development case.
2: Cummins Range is projected to deliver a mineral concentrate. Peer group have various value chain positions.
Sources:
See slide: List Of Sources For Production Forecasts and Grade, Economics And Radionuclides
Developing Cummins Range
into a Critical Minerals Mine
YEAR*
Orebody Knowledge
2023
MRE update
2024 H1
Offtake specific Met
Offtake
Offtake MOUs
Supply Chain
MOUs
Geotech
Baseline data prerequisites collected**
Reserves
Funding
Submission
Assessment Period
Prove-up achievable product specs across
wider orebody
Collect further data to support detailed
engineering studies
Pre-mining grade definition
Key milestone gate
Grade control
License
Secure Project
Funding
Port and Access Road Support
FID
Pre-Strip &
Construction
$1,450M
EBITDA
*The timetable is indicative and subject to change
Grade
definition
External studies
Execution
Orebody Knowledge
2026
Construction &
Operational contracts
Term sheets
PreEngagement
2025
Term sheets & strategic
partnerships
Internal engineering assessments
Engineering
Approvals
2024 H2
$695M
Tax, Government
title contributions
Offtake & Supply Chain
Agreements and native
Engineering,
Approvals & Operations
Potential off-takers provided
product samples
PFS/DFS driven by offtake milestone $41M
Mine closure
for testing
Submit for environmental approvals with
$549M / $333M
NPV
(pre
/
post-tax)
Term-sheets with key supply
regulator
8 chain providers
being developed to feed into detailed studies
IRR (pre
post-tax)
Preparation for construction
and /ops
contracts
Advance funding for logical government
39% / 27%
support project aspects
Defining the best exploration projects
in the current portfolio: Red Dragon
Portfolio growth in known jurisdiction
proximal to N-American supply chains
Ensuring maximum exposure to the
emerging mining sector of Saudi
Red Dragon, Eastern Yilgarn
Multiple Surface Rare Earth Anomalies with Large Magmatic
Intrusion To Test
Rationale
Exploration Plan
Located 130km south-west of Mt
Weld deposit
Joint ground gravity and passive
seismic survey over mag anomaly
Known carbonatite district
3D inversion with additional
geophysics data
A massive anomaly in an interesting
area within our control
Numerous rare earths surface
geochemical anomalies
Large untested strong
magnetic/gravity target undercover
Poorly explored area
• Nb-REE carbonatite
• Cu-PGE-Ni magmatic
intrusion
• Au-Cu IOCG
Find another Mt Weld in the Yilgarn
or a new Olympic Dam
Drill 1,200m diamond hole to test
magnetic anomaly
Funding supported though
Exploration Incentive Scheme
Potential farm-in to define further
“A massive anomaly in a very prospective
region – we must drill into it”
Goldray Carbonatite Project
New To The Portfolio
Ontario
Ontario and Quebec – Tier 1 provinces of choice
Argor Carbonatite (NioBay Metals)
63Mt @ 0.52% Nb2O5
Multiple undervalued, advanced target projects proximal to infrastructure
Domestic and regional support for critical minerals
Near to massive emerging end markets in N-America
Justification
Junction of major regional structures
and terrains with carbonatites and
multiple untested anomalies pegged
by RareX
Mag High on Structural
Junction (RareX)
Hecla-Kilmer Carbonatite
(VR Resources)
67m @ 1.57% TREO
Goldray Carbonatite (RareX)
Forgotten for 50 years with the last
drilling from the 60s constrained to
one anomaly
Circular Mag Low/Grav High
(RareX)
Niobium and rare earth district
with signatures of the Luni deposit
Cluster of geophysical responses
for target generation
Proximal to infrastructure with
train lines and utilities within 30km
Exploration Plan
Apply modern exploration
techniques to find new mineralised
systems
Magnetic and gravity remote
sensing surveys to assess drill
targets
Integrate new and historical
data to inform a geological model
and target generation
Campaign drilling on multiple
anomalies for efficiency in an
expensive region
“Whilst evaluating more advanced projects,
we became aware of a forgotten carbonatite
in the right formations available for pegging”
KSA – Emerging Minerals
and Mining Powerhouse
“Giga Projects are Infrastructure or Capital Project
investments of such scale and ambition that they
can be considered 'once in a generation’” – Deloitte
Rationale for Saudi
Progress so far
Geology
Under explored Arabian Shield
Tier 1 critical mineral potential
1
US$2.5T in mineral potential
Geology
Digitising, interrogating and
interpreting 60 years of
exploration reports
Compiling regions and areas of
priority exploration interest
Local and regional markets
Domestic EV manufacture
US$1.1T planned technology
heavy mega projects
Proximal to Europe
Mature industrial base
Processing capability
Chemical supply
Experienced operators
Good and growing infrastructure
Roads
Ports
Reliable, low-cost power
2
Sources:
1:https://www.forbes.com/sites/zengernews/
2024/01/28/doubling-the-critical-mineralpotential-of-saudi-arabia/?sh=4808c4b02005
2:https://www.spglobal.com/commodityinsig
hts/en/market-insights/latestnews/metals/011124-saudi-arabia-fasttracks-efforts-to-become-leader-of-mineralssuper-region
Underpinned by Vision 2030
Significant financial incentives
for exploration and development
Specific encouragement for
junior mining ecosystems
Business establishment
Registered business in the KSA
Registered Entity in the Auction
process
Stakeholder engagement
Austrade
Australian-Saudi Business Forum
Ministry for Investment
Invest Saudi
Ministry of Industry and mineral
resources
Potential local partners
Bidding preparation for next round
Learn the process
Increase profile
Acquire
In-house
Team
To Deliver
A Board Of
Company-Building Directors
Danny Goeman
John Young
Ex FMG director of sales and
marketing and advisor to the CEO,
following 20 years with Rio Tinto in
management, sales and marketing,
strategy development and high level
commercial negotiations
Co-founder and executive director of
successful ASX200 lithium producer
Pilbara Minerals Limited (ASX: PLS)
Non-Executive Director
Geology, Development,
Growth
Non-Executive Director
Offtake, Marketing,
Shipping
Jeremy Robinson
Chairman
Fund raising, Strategy,
Corporate Development
As Head of Marketing, then CEO;
responsible for the 2018, 10-year
binding take-or-pay offtake deal for
junior SOP developer Danakali (ASX:
DNK)
Founder of RareX and Managing
Director for 5 years leading the
Company through massive resource
expansion
Holds a Masters in Business
Administration and Postgraduate
Diploma in leadership &
Management from Curtin University
18 years in corporate finance both
in investment firms and in-house
Bachelor of Commerce from the
University of Western Australia
majoring in Corporate Finance,
Investment Finance and Marketing
Cameron Henry
Non-Executive Director
Engineering,
Construction, Operations
Founding managing director of
EPCM engineering firm, Primero
Group Limited
Over 20 years' experience in
development and delivery of global
minerals processing, energy and
NPI projects
Holds a Masters in Project
Management from Curtin University
and is a Member of the Australian
Institute of Company Directors
(MAICD)
Led the growth of Pilbara from a
junior ASX-listed company to a
globally significant $2 billion lithium
producer in the Pilbara region of
Western Australia
Holds a Bachelor of Geology from
Curtin University and is a director
on a number of ASX listed
companies
Shaun Hardcastle
Non-Executive Director
Corporate Law, Finance
Law, Governance
Partner at Hamilton Locke law firm
covering corporate and finance law,
corporate governance, risk
management and compliance
Involved in a broad range of crossborder and domestic transactions
including joint ventures, corporate
restructuring, project finance,
resources and asset/equity sales
and acquisitions
Bachelor of Law from UWA and
currently a non-executive director of
a number of ASX listed companies
Strong In-House Capability
Explore, Engineer, Develop
James Durrant
Chief Executive Officer
Mining and Mechanical
Engineer with nearly 20 years
across Tier 1 operations and
junior company project
development in Africa and
Australia
Competencies
Exploration
Resource modelling
Mine Scheduling
Metallurgy
Process design
Estimation
Economic modelling
Graphics & website
Guy Moulang
Head of Geology
Geologist and AIG Member
with 20 years experience in
technology metals, base
metals and gold exploration.
5 years with RareX on
Cummins Range
Kay Hofmann
Study & Approvals
Manager
Ex Mineral Resources Limited
and BHP. Lead engineering
and operational teams across
mine planning, production,
drill & blast, A&I,
hydrogeology and
environmental baselines
Greg Wynne
Senior Geologist and
KSA lead
Geologist, project manager
and mines rescue qualified
Lu Zhang
Process & Product
Engineer
Metallurgist and process
engineer. Ex Mets Group
Gavin Beer
Consultant Metallurgist
Rare Earth process designer
and metallurgist
“Maintaining and nurturing strong inhouse competencies is especially
important for specialty projects”
Investor Milestones 2024
Using in-house capability to efficiently run parallel, synergistic projects
Cummins Range
Focussing on offtake as a
catalyst to final definition and
development
Mining Heritage agreement
Product samples
RE Offtake
P Offtake
PFS
Environmental submissions
“Near Mine” growth
Notes
Some milestones dependent upon prior milestones
Red Dragon (Priority)
Exploration Target
Gravity and passive seismic
EIS Funding
Red Dragon drilling
Farm-in partner
Mt Mansbridge (Heavy RE)
Mapping
Target generation
Maude Creek (Heavy RE)
Soils
Target generation
Goldray complex
Remote sensing surveys
Multi-target generation
Flow through funding
Efficient, campaign drilling
Potential expansion
Analysis
Targeting
Potential acquisition
Early mover in emerging
region
Collaboration Agreement / JV
partner
Bid on projects through the
formal process
Acquire
Farm-in partner
Board of Directors
Jeremy Robinson – Non-Executive Chairman
John Young – Non-Executive Director
Danny Goeman – Non-Executive Director
Shaun Hardcastle – Non-Executive Director
Cameron Henry – Non-Executive Director
Company Secretary
Oonagh Malone
Chief Executive Officer
James Durrant
RareX HQ
L1, 338 Barker Rd,
Subiaco WA 6008
ABN 65 105 578 756
T: (08) 6383 6593
E: info@rarex.com.au
Follow us
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rarex.com.au
ASX: REE
Thank
you
References
List Of Sources For
Grade And Resource Graphs
Resource
Source of data
Source of data
Source of data
Source of data
Measured Resource, Mt
0
https://investors.rarex.com.au/announcements/6173995
5
https://wcsecure.weblink.com.au/pdf/ARU/02651944.pdf
43
https://asm-au.com/dubbo-project/resources-and-reserves/
0
https://wcsecure.weblink.com.au/pdf/REE/02660886.pdf
Indicated Resource, Mt
77.4
https://investors.rarex.com.au/announcements/6173995
30
https://wcsecure.weblink.com.au/pdf/ARU/02651944.pdf
0
https://asm-au.com/dubbo-project/resources-and-reserves/
14
https://wcsecure.weblink.com.au/pdf/REE/02660886.pdf
Inferred Resource, Mt
446.9
https://investors.rarex.com.au/announcements/6173995
21
https://wcsecure.weblink.com.au/pdf/ARU/02651944.pdf
32
https://asm-au.com/dubbo-project/resources-and-reserves/
38
https://wcsecure.weblink.com.au/pdf/REE/02660886.pdf
Measured TREO Grade, %
0.00%
https://investors.rarex.com.au/announcements/6173995
3.20%
https://wcsecure.weblink.com.au/pdf/ARU/02651944.pdf
0.88%
https://asm-au.com/dubbo-project/resources-and-reserves/
0.00%
https://wcsecure.weblink.com.au/pdf/REE/02660886.pdf
Indicated TREO Grade, %
0.47%
https://investors.rarex.com.au/announcements/6173995
2.70%
https://wcsecure.weblink.com.au/pdf/ARU/02651944.pdf
0.00%
https://asm-au.com/dubbo-project/resources-and-reserves/
1.25%
https://wcsecure.weblink.com.au/pdf/REE/02660886.pdf
Inferred TREO Grade, %
0.29%
https://investors.rarex.com.au/announcements/6173995
2.30%
https://wcsecure.weblink.com.au/pdf/ARU/02651944.pdf
0.88%
https://asm-au.com/dubbo-project/resources-and-reserves/
0.94%
https://wcsecure.weblink.com.au/pdf/REE/02660886.pdf
Measured TREO Contained, Mt
0.00
Calculation
0.16
Calculation
0.38
Calculation
0.00
Calculation
Indicated TREO Contained, Mt
0.36
Calculation
0.81
Calculation
0.00
Calculation
0.17
Calculation
Inferred TREO Contained, Mt
1.28
Calculation
0.48
Calculation
0.28
Calculation
0.36
Calculation
Market Capitalisation, AUD Billion (22.03.2024)
0.012
https://www2.asx.com.au/markets/company/ree
0.462
https://www2.asx.com.au/markets/company/aru
0.232
https://www2.asx.com.au/markets/company/asm
0.012
https://www2.asx.com.au/markets/company/ree
Resource
Source of data
Source of data
Source of data
Measured Resource, Mt
4.97
https://www.investi.com.au/api/announcements/ha
5.17
s/befee282-f7d.pdf
https://webservices.weblink.com.au/article.aspx?articleID=n
0.14
KKbPP9PtUXO6BDF6bSJiUk/yZN1iwVqxc19p9XAPJU=
https://wcsecure.weblink.com.au/pdf/NTU/02649250.pdf
Indicated Resource, Mt
20
https://www.investi.com.au/api/announcements/ha
21.13
s/befee282-f7d.pdf
https://webservices.weblink.com.au/article.aspx?articleID=n
5
KKbPP9PtUXO6BDF6bSJiUk/yZN1iwVqxc19p9XAPJU=
https://wcsecure.weblink.com.au/pdf/NTU/02649250.pdf
Inferred Resource, Mt
5
https://www.investi.com.au/api/announcements/ha
14.52
s/befee282-f7d.pdf
https://webservices.weblink.com.au/article.aspx?articleID=n
6
KKbPP9PtUXO6BDF6bSJiUk/yZN1iwVqxc19p9XAPJU=
https://wcsecure.weblink.com.au/pdf/NTU/02649250.pdf
Measured TREO Grade, %
0.96%
https://www.investi.com.au/api/announcements/ha
1.34%
s/befee282-f7d.pdf
https://webservices.weblink.com.au/article.aspx?articleID=n
0.70%
KKbPP9PtUXO6BDF6bSJiUk/yZN1iwVqxc19p9XAPJU=
https://wcsecure.weblink.com.au/pdf/NTU/02649250.pdf
Indicated TREO Grade, %
0.88%
https://www.investi.com.au/api/announcements/ha
1.02%
s/befee282-f7d.pdf
https://webservices.weblink.com.au/article.aspx?articleID=n
0.78%
KKbPP9PtUXO6BDF6bSJiUk/yZN1iwVqxc19p9XAPJU=
https://wcsecure.weblink.com.au/pdf/NTU/02649250.pdf
Inferred TREO Grade, %
1.05%
https://www.investi.com.au/api/announcements/ha
0.94%
s/befee282-f7d.pdf
https://webservices.weblink.com.au/article.aspx?articleID=n
0.73%
KKbPP9PtUXO6BDF6bSJiUk/yZN1iwVqxc19p9XAPJU=
https://wcsecure.weblink.com.au/pdf/NTU/02649250.pdf
Measured TREO Contained, Mt
0.05
Calculation
0.07
Calculation
0.00
Calculation
Indicated TREO Contained, Mt
0.17
Calculation
0.22
Calculation
0.04
Calculation
Inferred TREO Contained, Mt
0.06
Calculation
0.14
Calculation
0.04
Calculation
Market Capitalisation, AUD Billion (22.03.2024)
0.08
https://www2.asx.com.au/markets/company/has
0.063
https://www2.asx.com.au/markets/company/dre
0.195
https://www2.asx.com.au/markets/company/ntu
List Of Sources For
Production Forecasts And Grade, Economics And Radionuclides
Parameter
Source of data
Source of data
Source of data
Total LOM Production Forecast
Tonnag
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