Perpetual Resources keeps on keeping on \u2013 up today after kicking off its Raptor REE project exploration in Brazil
\nG11 meanwhile has shared some high-grade copper results from its Koonenberry Belt project in NSW
\nAnd NTU is also surging after yesterday\u2019s note from Treasurer Chalmers regarding Chinese shareholder divestment<\/p>\n
\u00a0<\/p>\n
Here are some of the biggest resources winners in early trade, Tuesday June 4.<\/em><\/p>\n \u00a0<\/p>\n Fresh from crushing it in May (it didn\u2019t walk away \u2013 read > here<\/a>) thanks to its WA silica sand and Brazilian Lithium Valley operations, PEC is flexing\u00a0hard again today.<\/p>\n [Ed: That\u2019s the THIRD time you\u2019ve used that PEC flexing gag lately. You\u2019re officially gagged from using it again. Probably.]<\/em><\/p>\n The share price is up more than 20% so far today, and about 112% over the past month.<\/p>\n The reason? It\u2019s rare earths this time. Talk about diversifying your sick gainz.<\/p>\n The company has announced the commencement of its exploration program at the Raptor REE project, which is situated in the prolific Caldeira REE complex in Minas Gerais, Brazil.<\/p>\n Specifically, this very initial stage of the operation represents the due diligence exploration phase.<\/p>\n Raptor covers a strategic area of 380 hectares, and has some nearology chops as reason for the company to be excited. It\u2019s located close to Meteoric Resources\u2019 (ASX:MEI)<\/strong><\/a> Tier 1 Caldeira ionic clay REE project, which boasts a JORC Mineral Resource Estimate of 545 million tonnes at 2,561ppm TREO comprising 24.1% MREO.<\/p>\n So, what happens in a due diligence op? In this instance, the company aims to: foster good relations with local landowners, identify anomalous REE occurrences via sampling and rock chipping, and possibly execute an auger drilling program to test potential REE grades.<\/p>\n Initial results are expected some time in July, with deeper auger drill results more likely to come in August.<\/p>\n Source: PEC<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Formerly known as Odin Metals, G11 is focused on copper and gold exploration, specifically at its Koonenberry Belt project in far western NSW.<\/p>\n The share price is double digits to the good so far today after G11 announced strong\u00a0new assay and down hole geophysics results from a recent reverse circulation (RC) drilling program at Wilandra Central.<\/p>\n That\u2019s a key target area within the 30km-long Wilandra Copper Corridor of the company\u2019s wholly owned Koonenberry project.<\/p>\n Some of the strongest results included:<\/p>\n \u2022 9m at 2.68% copper from 310m, including 6m at 3.46% copper from 311m; The company says that the\u00a0results have successfully extended the Peveril prospect mineralisation an additional 140m down-plunge, to +400m down-plunge (330m below surface). And drilling has also identified a mineralised link between the Peveril and Grasmere prospects, which extends the defined mineralised strike length to 4km.<\/p>\n What next?<\/p>\n Follow-up diamond and RC drilling will \u201ccommence immediately\u201d, with 4,000 metres planned. They\u2019re not messing about.<\/p>\n Source: G11<\/p>\n G11 MD and CEO Simon Peters said:<\/p>\n \u201cThis is a highly encouraging set of RC drilling results and clearly demonstrates the merit of focusing our exploration activities on Wilandra Central in 2024.<\/p>\n \u201cWilandra Central now has a 4km strike extent of mineralised structure, which remains open in all directions. This includes higher grade shoots with immediate and substantial mineral resource potential.\u201d<\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> Astron and a US-based critical minerals company \u2013 Energy Fuels \u2013 have executed a binding farm in\/JV agreement for the development of the Donald rare earths and mineral sands project in Victoria.<\/p>\n For a 49% stake, Energy Fuels will contribute $183m to development and issue ATR with US$17.5m in shares.<\/p>\n ATR says the new JV highlights the development of the Donald project as a major new long-life, source of critical minerals, \u201cestablishing a Western rare earth value chain that is aligned with the Australian Government\u2019s critical minerals strategy\u201d.<\/p>\n The JV also includes an offtake agreement with Energy Fuels for 100% of rare earths production from Phases 1 & 2 of the project (indicatively 58 years).<\/p>\n Astron MD Tiger Brown believes the JV is a \u201ctransformational moment\u201d in the company\u2019s history, adding:<\/p>\n \u201cIn Energy Fuels, we have found a joint venture partner that shares our values, our goals and focus, one that strongly complements our mineral sands experience and aspirations with their own rare earth experience and strategy.\u201d<\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> NTU is up about 20% so far today after the news hit yesterday that Federal Treasurer Jim Chalmers has urged five Chinese shareholders to divest a total of 10.4% in rare earths stock Northern Minerals.<\/p>\n Reuben covered this yesterday afternoon\/evening in Monsters of Rock, but to paraphrase\/steal\/recap\u2026<\/p>\n Chalmers has essentially told five Chinese shareholders to divest a total of 613,573,632 shares in NTU.<\/p>\n That\u2019s 10.4% of the entire issued stock to be sold within 60 days, according to the Treasurer\u2019s notice, which, as Reuben points out, indicates a desire to keep local critical minerals out of China\u2019s grasp.<\/p>\n China dominates the rare earths space, controlling 65% of the world\u2019s mining, 85% of the processing, and 92% of rare earth magnet production.<\/p>\n \u201cNow the West, belatedly realising that minerals are critical when you don\u2019t control them, is moving to protect its assets,\u201d wrote our Reubs, adding:<\/p>\n $200m capped NTU has been plugging away at its Browns Range rare earths project in the East Kimberley region of WA since late 2009.<\/em><\/p>\n The focus for the company is on producing dysprosium and terbium, which are critical to the manufacturing of permanent magnets used in things like electric vehicles and wind turbines.<\/em><\/p>\n There were a few bumps in the road for NTU, but Argonaut says Northern Minerals now has a lower risk development pathway having inked a partnership for Iluka Resources to process its xenotime ore at a new rare earths refinery at Eneabba in WA.<\/em><\/p>\n That will avoid development costs and risks associated with a previous strategy to deliver a more expensive integrated mine and refinery for Browns Range.<\/em><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n \u00a0<\/p>\n <\/span><\/p>\n The post Resources Top 4: PEC keeps up the gains with Brazilian REE hunt kick-off<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Perpetual Resources (ASX:PEC)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nG11 Resources (ASX:G11)<\/strong><\/a><\/h2>\n
\n\u2022 6m at 1.06% copper from 361m, including 3m at 1.83% copper from 363m
\n\u2022 5m at 2.48% copper from 327m; and
\n\u2022 4m at 1.33% copper from 264m, including 1m at 3.55% copper from 265m<\/p>\n
\n\u00a0<\/p>\nAstron Resources (ASX:ATR)<\/a><\/h2>\n
\n\u00a0<\/p>\nNorthern Minerals (ASX:NTU)<\/strong><\/a><\/h2>\n