Godolphin Resources Limited (ASX: GRL) Achieves Major Milestone in Rare Earth Project
Production Highlights
Godolphin Resources Limited (ASX: GRL) has successfully produced a second Mixed Rare Earth Carbonate (MREC-2) at its Narraburra Rare Earth Element Project. This milestone follows the company’s ongoing metallurgical testwork, which revealed that MREC-2 exhibits similar Magnet Rare Earth Oxide (MREO) contents while significantly reducing impurities compared to the initial MREC-1 sample. The innovative addition of an Ion Exchange (IX) step in the processing improved uranium removal to only 7ppm, which is substantially lower than previous outputs.
Operational Achievements
MREC-2 demonstrates a notable 67% overall recovery rate of MREO from the feed, with the gravimetric efficiency surpassing competitors in the clay-hosted REE sector. The consistency in the total Rare Earth Oxide (TREO) content has been maintained, with MREC-2 showing 57.8 wt% compared to 57.6 wt% in MREC-1. GRL’s results highlight the potential for creating cleaner, saleable products, setting the company apart in the competitive landscape.
Executive Commentary
Managing Director Jeneta Owens remarked, “This latest development highlights the considerable potential of the Narraburra REE project. We are pleased to have produced a significantly cleaner product, which removes 98% of the uranium content with minimal loss of rare earth elements.” She emphasised that the quality and low impurities of MREC-2 are expected to bolster discussions with potential off-take partners, aiding the project’s future economic potential.
Future Outlook
The positive results from MREC-2 are anticipated to facilitate engagement with potential off-take partners in early 2025. Godolphin Resources is strategic in its approach, pausing the Scoping Study until REE pricing improves while focusing on its drill program at the Lewis Ponds Project, which has yielded promising results.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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