Australian Rare Earths Limited (ASX:AR3) Quarterly Activities Report
Grant Secured for Koppamurra Project
Australian Rare Earths Limited (ASX: AR3) secured a $5 million grant from the Australian Government’s International Partnerships in Critical Minerals Program. This funding will support the Koppamurra Rare Earths Project by advancing additional metallurgical testwork, completing a Pre-Feasibility Study (PFS), and constructing a demonstration plant. The project is aimed at establishing a diversified supply chain as part of the clean energy transition.
The company stated that grant funding validates the Koppamurra Project as a potential future source of rare earths, helping to create diversified supply chains vital to the world’s clean energy transition. The total planned expenditure for the project is projected to reach $10 million over the next two years, with matched funding from AR3.
Overland Uranium Project Developments
The Overland Uranium Project has expanded to approximately 4,000 km² after a recent Farm-In Agreement. Initial drilling commenced in October 2024, confirming AR3’s geological model for sedimentary-hosted uranium deposits. The drilling results showed thick sequences of Murray group stratigraphy, indicating potential pathways for uranium mineralisation.
The company reported encouraging results from the first drilling phase, including anomalous downhole natural gamma readings, which support the region’s exploration potential. Follow-up drilling and geophysical research work with CSIRO Minerals will contribute further insights into the uranium deposits.
Financial Position and Corporate Highlights
As of 31 December 2024, AR3 maintained a strong cash position of $5.5 million, bolstered by the initial grant payment of $750,000 and an R&D cash refund of $708,000. This financial stability positions AR3 to continue making advancements across its portfolio of clean energy transition metals projects.
The company conducted its Annual General Meeting on 27 November 2024 and participated in various mining conferences to showcase its projects and strategies. Upcoming activities for the next quarter include laboratory testwork, PFS planning, and resumption of drilling at the Overland Uranium Project.
Motley Fool contributor Lianne Eastty 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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